Saracen Mineral Holdings Limited (ASX: SAR) has reported an exceptional performance for the June 2017 quarter which saw it post record gold production, achieve its goal of doubling annualized production to 300,000oz, and deliver a host of impressive exploration results. Production for the June quarter was up 23% on the previous quarter at 79,985 ounces, a record for the company which is above the run-rate required to achieve its 300,000oz pa production target. Robust performance was largely driven by rising mine grades, and 25% reduction in all-in sustaining costs to A$1,127/oz, aided to drive a strong financial performance for the quarter. Gold sales of 78,534oz underpinned revenues of $127.3 million, allowing Saracen to grow its cash and equivalents position to $45.2 million at quarter-end (up from $30.6 million last quarter). This was after making significant investments in the company’s future growth, including $24.6 million on growth capital and exploration, $4.3 million to repay all finance leases and $2.7 million reflecting the early payment to St Barbara Ltd of the final instalment for the Kailis acquisition.