Saracen Mineral Holdings has exited the ASX on a high after merging with fellow Super Pit operator Northern Star Resources, today reporting gold production records from its Western Australian operations.
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Is Aussie M&A set to rise?
Northern Star Resources and Saracen Mineral Holdings’ announcement of a $16 billion merger has brought anticipation for the rise of a new top 10 global gold producer, with signs there may be more mergers and acquisitions (M&A) in the gold sector.
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Super merger: Northern Star and Saracen to join forces
Super Pit joint owners Northern Star and Saracen Mineral Holdings are set to combine, having agreed to a merger-of-equals worth $16 billion.
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Super Pit future secured by major extension
The iconic Super Pit mine in Kalgoorlie, Western Australia is set for another 15 years of production with an updated gold resource of 19 million ounces.
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Saracen’s golden reserves to propel production
Saracen Mineral Holdings plans to ramp up gold production to 450,000 ounces a year starting from the 2023 financial year.
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Saracen restarts Carosue Dam operations following accident
Saracen Mineral Holdings will resume processing operations at the Carosue Dam gold operations in Western Australia today, with underground and open pit activities to follow imminently.
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Saracen brushes virus aside with record production
Saracen Mineral Holdings has finished the 2020 financial year with record production of 520,414 ounces of gold, beating its guidance of 500,000 ounces.
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Saracen maintains 2020 guidance despite coronavirus
Saracen Mineral Holdings is on track to produce a record 150,000 to 155,000 ounces of gold across its operations during the March quarter, seeing minimal impact from the coronavirus pandemic.
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Super Pit leads Saracen to record production
Saracen Mineral Holdings is on course to meet its 2020 financial year production guidance of more than 500,000 ounces of gold.
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Saracen thunders to record December production
Saracen Mineral Holdings has “entered the next league of Australian gold miners” after a record December 2019 quarter, according to company managing director Raleigh Finlayson.
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Saracen finalises Super Pit takeover
Saracen Mineral Holdings has successfully completed its acquisition of 50 per cent interest in the Kalgoorlie Super Pit from Barrick Gold Corporation.
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Saracen cashed up for Super Pit buy
Saracen Mineral Holdings has secured funding that it needs to acquire Barrick Gold's 50 per cent interest in the Super Pit gold mine in Western Australia for $US750 million ($1.1 billion).
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Saracen hits higher ground with record-breaking quarter
Saracen Mineral Holdings has enjoyed a record-breaking quarter with gold production and costs running ahead of guidance.
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Saracen on track to ramp up annual production to 400,000oz
Saracen has posted a new gold production target on the back of sustained record production, ending the quarter strong with 88,940 ounces (oz) of gold.
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Saracen Mineral on track to achieve growth plans with strong profits
Saracen experienced a 166 per cent surge in its net profit after tax, which climbed to $75.6 million during the financial year 2018. This is a record figure to Saracen, even after excluding the profit on its King of the Hills sale.
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Saracen Mineral hits record 2.5Moz gold reserves
Saracen Mineral managing director Raleigh Finlayson is confident the company will reach its goal of becoming a 400,000oz a year gold producer following its recent progress.
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