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 sees improved production in first quarter

By Josh White

Date: Monday 15 Apr 2019

LONDON (ShareCast) - (Sharecast News) - Brazil-focussed gold mining and development company Serabi Gold reported first quarter gold production of 10,164 ounces on Monday, up from 9,188 ounces year-on-year and maintaining the momentum from the end of 2018.
The AIM-traded firm said it was the second successive quarter of production above 10,000 ounces for the first time.

It said mine tonnage for the three months ended 31 March totalled 42,609 tonnes at 7.47 grams per tonne of gold., while 43,451 tonnes of run of mine ore was processed through the plant from the combined Palito and Sao Chico orebodies, with an average grade of 7.69 g/t of gold.

A total of 1,868 metres of horizontal development was completed during the quarter.

During the period, the company completed and announced its updated mineral resource estimate for its Coringa gold project, with the new estimate representing a 37% increase over the previously-disclosed estimation of May 2017.

It showed an indicated resource for Coringa of 216,000 ounces of contained gold, and an additional inferred resource of 298,000 ounces of contained gold.

Serabi maintained its production guidance for 2019 as being between 40,000 and 44,000 ounces, which would represent a \"significant improvement\" on 2018 production of 37,108 ounces.

\"With production for the first quarter of 10,164 ounces of gold, this has been another excellent quarter and continues the momentum of the fourth quarter of 2018 when we also produced over 10,000 ounces in the quarter,\" said Serabi Gold chief executive Mike Hodgson.

\"Mine output remains very steady, with performance very much in line with 2018.\"

Hodgson said that, with an \"excellent start\" to the year, he anticipated continued production success throughout 2019.

\"Further, with the new updated resource at Coringa and the forthcoming PEA, we look forward to further positive progress on licencing and permitting and I look forward to reporting further positive news 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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