The Saracen Mineral Holdings Limited (ASX: SAR) share price is one to watch today after the gold miner's latest quarterly update.
Why could the Saracen Minerals share price be on the move?
Saracen reported record quarterly gold production of 120,127 ounces (oz) for the period ended 31 December 2019.
The group's Thunderbox operations yielded 46,594 oz as the C Zone open-pit mine delivered higher grade and lower strip ratio ore.
The Saracen share price will one to watch after the record production at an all-in sustaining cost (AISC) of A$1,098 per ounce.
The ASX gold miner reported a record closing ore stockpile at Carosue Dam and Thunderbox.
During the quarter, Saracen purchased a 50% stake in the Super Pit gold mine in Kalgoorlie-Boulder, Western Australia for US$750 million.
The other 50% stake was subsequently purchased by Northern Star Resources Ltd (ASX: NST) with a joint operatorship agreed by the 2 miners.
The Super Pit mine produced 730,000 oz in FY18. For context, Saracen's pre-acquisition guidance was for 350,000 to 370,000 oz.
The acquisition has pushed Saracen's gold production numbers higher and it is now a leading ASX 200 gold miner.
Saracen's production outlook for FY20 and FY21 is more than 500,000 oz and 600,000 oz, respectively.
How has the Saracen Minerals share price performed?
The Saracen share price is up 21.43% since the start of December after a solid end to 2019.
Acquiring the Super Pit stake was a big step forward for the Aussie gold miner that could pay huge dividends for the company and its shareholders.
Saracen shares have been performing well, even while other ASX 200 mining shares have struggled this year.
The Evolution Mining Ltd (ASX: EVN) share price is up 2.72% in January while Regis Resources Limited (ASX: RRL) shares are up just 1.14% this year.
Foolish takeaway
Saracen shares have opened flat this morning, but it will be worth keeping an eye on the Saracen share price following today's record quarterly production result.
