Serabi Gold Provides AGM Update on Production Growth and Exploration Plans
Why we think this is neutral
This RNS announcement provides a general business update from Serabi Gold, covering production, exploration, and licensing progress. While the company reports positive operational developments, such as increased production and successful ore sorting, the announcement does not contain any specific financial figures or news that would warrant a more positive or negative sentiment score. The information provided is informative but does not appear to have a significant immediate impact on the company's outlook.
Key Points
- 17% increase in production in 2024 compared to 2023
- Successful commissioning of ore sorting at Palito and Coringa
- New Preliminary Economic Assessment completed for Coringa project
- $9 million brownfield exploration program underway
- 3-year renewal of GU Mining license for Coringa, ongoing permitting discussions
Summary
The gold mining company reports production growth, successful ore sorting, and progress on exploration and licensing, providing an update ahead of its Annual General Meeting.
Serabi Gold plc (AIM:SRB, TSX:SBI, OTCQX:SRBIF), the Brazilian focused gold mining and development company, has provided an update ahead of its Annual General Meeting. Key highlights include:
- 17% increase in production in 2024 compared to 2023, with further growth expected in 2025 and 2026.
- Successful commissioning of ore sorting at both the Palito and Coringa operations, improving grade and recovery.
- Completion of a new Preliminary Economic Assessment for the Coringa project, outlining plans to pre-concentrate ore on-site before trucking to the Palito plant.
- Commencement of a $9 million brownfield exploration program across both Palito and Coringa, targeting resource growth.
- Progress on permitting for the Coringa project, with a 3-year renewal of the GU Mining license and ongoing discussions with government agencies.
Key Dates
Mid 2025
Targeting over 44,000 ounces of production
2026
Targeting approximately 55,000 ounces of production
2027
Potential receipt of Installation License (LI) for Coringa
GENERAL UPDATE