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Business Description: Saracen Mineral Holdings Limited (SAR) is a mineral exploration and development company focusing on gold. The company's main operation is its Carosue Dam processing plant in Western Australia.
Strategy Analysis: The company is focusing on tenement holdings and gold deposits located north-east of Kalgoorlie. This location will serve as basis for building future long-term strategic infrastructure and resources positions. Operations are in the midst of transformation from explorer to gold miner, with a project debt financing facility and associated equity raising expected to fund the program.
Saracen Mineral Holdings reported a net loss of $29.57m for the half-year ended 31 December 2012. Revenues from ordinary activities were $97.68m, up 3% from the same period last year. Diluted EPS was (3.84) cents compared to 1.75 cents last year. Net operating cash flow was $30.79m compared to $27.05m last year. No dividend was declared.
The Age 24/05/2013 |
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The Age 24/05/2013 |
James Hardie expects no big improvement in the housing market this year but says the sector has stabilised after interest rate cuts.
The Age 24/05/2013 |
Foster's owner SABMiller reported a 5 per cent drop in sales volumes in Australia over the past year but notched up 3 per cent growth in the fourth quarter, boosted in particular by the relaunch of Victoria Bitter.
The Age 24/05/2013 |
The ASX took more than three hours to tell stockbrokers and investors a computer failure had knocked out its critical market announcements feed in October last year, according to a new investigation into the incident.
The Age 24/05/2013 |
The Australian dollar plunged to its lowest level in a year, shedding over US2¢ in a session, as traders reacted to contradictory comments from the head of the US Federal Reserve on Thursday.
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