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SAR, SARACEN MINERAL HOLDINGS LIMITED
blacksheep
post Posted: Sep 28 2019, 03:35 PM
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Saracen continues bolt-on strategy with acquisition of Sinclair Project for A$10m Deal delivers highly prospective gold tenure with extensive
infrastructure just 25km from Thunderbox

27 September 2019
QUOTE
HIGHLIGHTS
 Saracen has entered into a binding agreement to acquire the Sinclair project from Talisman Mining (ASX: TLM)
 The Sinclair project is located 25km south-west of Thunderbox and includes:
 Highly prospective yet underexplored gold tenure immediately along strike from Saracen’s Bannockburn
project area* (1.04Moz Resource¹), where recent air core drilling has highlighted additional significant anomalism
 Extensive infrastructure including a 200-person camp, mine buildings and workshops, core yard, 2km sealed airstrip,
and abundant good quality water (bore field and pipeline)
 Extensive underground mining assets including primary and secondary ventilation fans, electrical starter boxes and
refuge chambers, readily available for installation at the growing Thunderbox underground mine
 +350ktpa nickel processing plant and Mineral Resources² of 720,000t @ 2.3% Ni for 16,200t of contained nickel,
enabling value to be unlocked at the Saracen-owned Waterloo / Amorac deposits
 Key infrastructure and assets are presented in Appendix A
 Consideration is A$10m cash payable at completion and a 2.0% NSR payable on metal production from the Sinclair
tenements and non-precious metals production from the Saracen-owned Waterloo tenement (M36/473)
 The transaction is conditional upon the items listed on page 3, completion expected to occur prior to the end of October
2019
 Saracen will conduct a strategic review of its nickel assets, which will include >30,000t ¹ ² of contained nickel in Resources
within 50km of a nickel processing plant, with a view to maximising their value via a transaction at the right time


Market not that excited - SAR's SP down 2.81%. TLM's SP up 11.11%. TLM acquired Sinclair from Xstrata back in 2014 in what was then described as "a company making acquisition" The purchase price was $8 million plus a deferred $2 million payment on recommencement of mine production. Not sure what further funds TLM ploughed into Sinclair.



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
nipper
post Posted: Aug 20 2019, 02:27 AM
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In Reply To: blacksheep's post @ Aug 19 2019, 11:08 PM

Ah, hedging. Can spoil the best intentions.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
blacksheep
post Posted: Aug 19 2019, 11:08 PM
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In Reply To: nipper's post @ Aug 19 2019, 03:11 PM

Hasn't done much for the SP which was down 5.14% @ $3.71. I think it's probably something to do with their hedging - locked in at lower than current gold prices as noted in their recent quarterly

QUOTE
Hedging
During the quarter 142,000oz of hedging was added at A$1,908/oz. 81,500oz of hedging was delivered at A$1,747/oz (including
9,000oz of A$1,615/oz contracts pre-delivered ahead of schedule).

At 30 June 2019, the hedge book comprised 419,000oz at an average delivery price of A$1,840/oz.


Shortman recorded a notable short alert for Friday 16/8/19

QUOTE
Fri 16th Aug, 2019 6,622,334 822,038,896 0.80% 10,090,586 65.63%

https://www.shortman.com.au/stock?q=sar
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: nipper  
 
nipper
post Posted: Aug 19 2019, 03:11 PM
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KEY POINTS
Revenue ............ ($m) 556 , up 8.7%
Pre-tax profit ..... ($m) 131 , up 16.0%
Net profit ........... ($m) 92 , up 22.4%

QUOTE
Not content with a 35-fold increase in the value of its shares, Saracen Mineral Holdings has announced plans to start paying dividends.

The new dividend policy was announced on Monday as Saracen reported a 22 per cent rise in profits to $92.5 million - slightly lower than the $101 million analyst consensus published by Bloomberg, but the sixth consecutive year that Saracen has grown its earnings.




--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
blacksheep
post Posted: Jan 15 2019, 09:50 AM
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In Reply To: blacksheep's post @ Apr 17 2018, 01:51 PM

Kerry Stokes' private investment coy - Wroxby Pty Ltd - sold down its subholding between 7/1/2019 - 10/1/2019. Nicely done and pretty much at the 52 week high

Note - seems there is another issue with uploading charts? Keep getting this message - "Error Upload failed. Please ask the administrator to ensure the uploads directory is writeable"



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Apr 17 2018, 01:51 PM
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In Reply To: blacksheep's post @ Oct 24 2017, 11:44 AM

Another solid quarterly

QUOTE
Production
 Record quarterly mine production of 98,886oz contained (Carosue Dam 44,329oz; Thunderbox 54,557oz)
 Quarterly mill production of 79,727oz (Carosue Dam 43,167oz;Thunderbox 36,560oz)
 Quarterly all-in sustaining cash costs (AISC) of A$1,181/oz
 Milling of high-grade Kailis ore (Thunderbox) continued with grade and ounces exceeding expectations
 Closing ore stockpile (gold inventory awaiting processing) of 57,026oz (up 34% from 37,834oz at December 31)
 FY18 guidance increased to 310-315,000oz at an AISC of A$1,100 - 1,150/oz (previously 300,000oz at A$1,150/oz)

Financial
 Cash and equivalents of A$101.5m at March 31 (up from A$82.9m at December 31, after spending A$11.5m on growth
capital and exploration and despite a 34% increase in ore stockpiles)
 Gold sales for the quarter of 81,351oz at an average sale price of A$1,584/oz, generating revenue of A$128.8m
 82,700oz of hedging added at A$1,771/oz; 59,300oz of hedging delivered at A$1,550/oz, average remaining hedge price A$1,696/oz

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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 


blacksheep
post Posted: Oct 24 2017, 11:44 AM
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In Reply To: blacksheep's post @ Oct 23 2017, 06:52 PM

Market responds - SP up currently 11.9% @ $1.505/share
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Oct 23 2017, 06:52 PM
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Posts: 6,345
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In Reply To: blacksheep's post @ Aug 11 2017, 07:48 PM

Solid quarterly report

QUOTE
Outstanding start to FY18
Record production, lower costs, significant increase in cash
and 40% increase in Reserves
Production
 Record quarterly gold production of 80,274oz (Thunderbox record
37,191oz; Carosue Dam 43,083oz)
 Quarterly all-in sustaining cash costs (AISC) of A$1,008/oz, an 11%
fall from the June quarter
 FY18 guidance maintained at ~300,000oz at an AISC of A$1,150/oz
Development
 Pre-strip mining continues at Thunderbox C Zone pit, with
~A$11m of pre-strip costs included in Thunderbox’s AISC of A$923/oz
(~A$638/oz excluding pre-strip)
 Development continues at the Kailis pit (Thunderbox) with milling
of this ore to commence in the current December 2017 quarter
Financial
 Cash and equivalents of A$60.5m at quarter-end (up from
A$45.2m despite spending A$22m on growth capital and exploration),
this excludes any proceeds from non-core assets
 Gold sales for the quarter of 79,799oz at an average sale price of
A$1,583/oz for revenue of A$126.3m
 During the quarter 48,000oz of hedging was added at A$1,704/oz,
while 43,200oz of hedging was delivered at A$1,555/oz
Exploration and growth
 Record group Ore Reserves of 2.1Moz at 30 June 2017 (1.5Moz at
30 June 2016) - an increase of 40% despite depletion of 293,000oz
 Drill results point to further increases in mine life at Carosue Dam,
impressive extensional results at Karari include: 40.2m @ 4.2g/t, 26.0m
@ 4.1g/t and 11.1m @ 9.0g/t
Sale of non-core assets
 King of the Hills sold to Red 5 Limited (ASX: RED) for A$7.0m upfront
cash (settlement in the current December quarter), 90 million Red 5
shares, and A$4.5m in cash or Red 5 shares (at Saracen’s election) 12
months after completion
 Binding agreement to sell Red October to Matsa Resources Limited
(ASX: MAT) for A$1 million cash and 4.545 million Matsa shares
Corporate
Experienced mining executive Simon Jessop appointed Chief
Operating Officer, effective 3 January 2018

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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 11 2017, 07:48 PM
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Gets a mention here

QUOTE
Steve Thomas, Katana: Northern Star (ASX:NST) and Saracen Minerals (ASX:SAR)

Northern Star's exploration budget of $150million over the last few years has been more than rewarded with a leap in reserves to 3.5 million ounces of gold (up from 2.3Moz). This firmly addresses any concerns about longevity to the current bumper 500-600koz production rate - taking mine lives out towards 10 years. The commitment to exploration has been rewarded with a substantial high grade gold discovery at Zodiac just below the current Jundee workings. The discovery hole at Zodiac has a spectacular 200m (down hole depth) of mineralisation; which should convert to another meaningful addition to reserves in due course.

Following up closely is the success that Saracen Minerals (ASX:SAR) has had with the drill bit at their Carosue Dam operations not to far from Kalgoorlie. The deeper drilling below the Karari underground mine has had some terrific results and underpinned a leap in reserves to 2.1Moz for the group (up 40%). With a 2Moz resource between the Karari and Whirling Dervish deposits and an increase in endowment at depth (up to a eye catching 3,000 ounces per vertical metre) looks like underground mining will be continuing for a long time into the future.

https://www.livewiremarkets.com/wires/the-g...il-from-diggers
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 4 2017, 03:10 PM
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Posts: 6,345
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In Reply To: blacksheep's post @ Jul 26 2017, 02:40 PM

SAR down 1.33% currently @ $1.30 on this divestment news - was heavily shorted leading up to the ann.
https://www.shortman.com.au/stock?q=sar

QUOTE
Key Points
 Binding agreement to sell the King of the Hills (KoTH) gold mine to a
wholly owned subsidiary of ASX-listed gold company Red 5 Limited (ASX:
RED)
 The consideration for King of the Hills comprises:
 A$7 million upfront cash;
 90 million Red 5 shares; escrowed for 12 months;
 A$4.5 million in cash or Red 5 shares* (at Saracen’s election) 12
months after completion;
 Red 5 to assume all environmental liabilities
 The sale is consistent with Saracen's strategic focus on its core
production and exploration assets at Carosue Dam and Thunderbox,
located close to existing processing facilities
 As part of this strategy, Saracen is realising value from non-core assets
located further away from its key processing facilities


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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
 


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