Serabi Gold (SRB)

Sector:

Mining

Index:

FTSE AIM All-Share

86.00p
   
  • Change Today:
    -5.00p
  • 52 Week High: 93.50p
  • 52 Week Low: 30.10p
  • Currency: UK Pounds
  • Shares Issued: 75.73m
  • Volume: 721,281
  • Market Cap: £65.13m
  • RiskGrade: 196

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Serabi Gold makes good progress in northern Brazil

By Josh White

Date: Tuesday 30 Oct 2018

LONDON (ShareCast) - (Sharecast News) - Brazil-focussed gold mining and development company Serabi Gold updated the market on its operational and exploration activities from its Palito Complex in the Tapajos region of Para State in northern Brazil on Tuesday, reporting third quarter production of 8,101 ounces of gold, with production for the year to date totalling 26,852 ounces.
The AIM-traded firm said it saw the highest level of mined tonnage for the year during the quarter, with a total of 42,725 tonnes at 6.23 grams per tonne of gold.

A total of 41,405 tonnes of run of mine ore was processed through the plant from the combined Palito and Sao Chico orebodies, with an average grade of 6.11 g/t of gold - a 9% improvement in throughput rates compared with the second quarter.

The company said an additional 6,825 tonnes of historical tailings were processed through the leaching circuit at a grade of 3.5 g/t of gold.

It also reported the highest quarterly total of horizontal mine development in 2018, with 2,814 metres completed.

On the exploration and development front, the firm completed a 4,343 line kilometre airborne HeliTEM electromagnetic (EM) and magnetic survey.

It also reported the completion of 80 line kilometres of a terrestrial induced polarisation (IP) geophysical survey.

A total of 4,237 metres of surface exploration drilling was completed over the Sao Chico deposit, which successfully intersected the strike extension of the Sao Chico orebody up to 300 metres west of the current mine limit.

The firm also reported 1,520 metres of surface drilling at the Palito deposit, targeting the north extension of the main G3 vein, with the most significant intersection recording 19 g/t of gold over a width of 0.55 metres.

Serabi began surface drilling at Coringa during the period, in preparation for a new mineral resource update to be issued in the first quarter of 2019.

It also confirmed the start-up of portal development and underground access at Coringa.

"This third quarter has been very encouraging," said chief executive officer Mike Hodgson.

"We have had some excellent exploration success at Sao Chico and Palito, completed the excavation of the mine portal at the recently acquired Coringa project, and enjoyed a solid third quarter of production from our Palito Complex mining operations, with 8,101 ounces of gold produced and total gold production for the year to date totalling 26,852 ounces."

Hodgson said the exploration results to date had been "excellent", and that - alongside steady gold production - meant that the company had another positive quarter.

"With the rigs turning at Sao Chico and Coringa, and the imminent results from our airborne geophysics survey I anticipate that Serabi will continue to make significant progress and I look forward to providing further updates in the coming months."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Serabi Gold Market Data

Currency UK Pounds
Share Price 86.00p
Change Today -5.00p
% Change -5.49 %
52 Week High 93.50p
52 Week Low 30.10p
Volume 721,281
Shares Issued 75.73m
Market Cap £65.13m
RiskGrade 196

Serabi Gold Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
92.58% above the market average92.58% above the market average92.58% above the market average92.58% above the market average92.58% above the market average
36.51% above the sector average36.51% above the sector average36.51% above the sector average36.51% above the sector average36.51% above the sector average
Price Trend
96.52% above the market average96.52% above the market average96.52% above the market average96.52% above the market average96.52% above the market average
89.78% above the sector average89.78% above the sector average89.78% above the sector average89.78% above the sector average89.78% above the sector average
Income Not Available
Growth
33.13% below the market average33.13% below the market average33.13% below the market average33.13% below the market average33.13% below the market average
28.81% below the sector average28.81% below the sector average28.81% below the sector average28.81% below the sector average28.81% below the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Serabi Gold Dividends

No dividends found

Trades for 31-Oct-2024

Time Volume / Share Price
16:39 25,000 @ 87.30p
14:36 117,000 @ 86.10p
14:37 100,000 @ 87.30p
16:35 1,176 @ 86.00p
16:35 1,176 @ 86.00p

Serabi Gold Key Personnel

Finance Director Clive Malcolm Line
CEO Michael Hodgson

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