Saracen Mineral Holdings Limited (ASX:SAR) stated that its performance was overshadowed by the recent tragic fatality at Carosue Dam. It also released its quarterly report for June which showed:
- At 30 June, SAR has 1.7-million-ounce ore stockpile for protection against the impact of COVID-19 or other impacts
- June quarterly production of 145,830 ounces of gold at an AISC of $1,152 per ounce
- Gold sales for the quarter stood at 148,011 ounces at an average price of $2,280 per ounce generating sales receipts of $338 million
Saracen’s production guidance for the 2021 financial year stays at more than 600,000 ounces.
There is no one left untouched by the charm of the multibillion-dollar global boom in cannabis. Its glorious journey from a criminalized drug to being used in over 20 countries for treating medical conditions.
No wonder the cannabis stocks are on the edge of a green rush. Don’t miss out on the happenings in the cannabis sector and take advantage of the growth phase of this sector by subscribing to our report on Marijuana stocks in Australia.
Find out the drivers for the rise in cannabis stock rates Even though the cannabis sector is in its growing phase, Australian cannabis stocks have already started to rise actively due to a hastily increasing patient base, and a legislative landscape that is gradually beginning to liberalise.
Outreach and future of cannabis stocks As countries liberalise regulation for medical and recreational use of cannabis, it is predicted that the industry would grow sharply in upcoming years The global cannabis market stands currently at around $8 billion and it is expected that the hemp derived CBD market to hit approximately $22 billion by 2022.
Key Players in the sector Althea Group Holdings Limited (ASX: AGH) and Cann Group Limited (ASX: CAN) are amongst the top players. Other Australia cannabis market players are- MGC Pharmaceuticals Ltd (ASX: MXC), Elixinol Global Limited (ASX: EXL), THC Global Group Limited (ASX: THC), AusCann Group Holdings Limited (ASX: AC8)