Serabi Gold (SRB)

Sector:

Mining

Index:

FTSE AIM All-Share

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

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Serabi Gold upbeat on latest mining operations

By Josh White

Date: Wednesday 13 Oct 2021

LONDON (ShareCast) - (Sharecast News) - Brazil-focussed mining and development company Serabi Gold updated the market on its operational, development and exploration activities in the third quarter on Wednesday.
The AIM-traded firm said gold production totalled 9,082 ounces in the period, which was a 34% improvement over the same part of 2020.

Gold production for the year-to-date was in line with guidance at 26,510 ounces.

Total ore mined during the quarter was 42,240 tonnes at 7.18 grams of gold per tonne, which was the highest quarterly mined grade since the first quarter of 2019 and a 28% improvement in grade compared to the average for 2020.

A total of 41,995 tonnes of run-of-mine ore was processed through the plant from the combined Palito and São Chico orebodies, with an average grade of 7.20 grams of gold per tonne, which was a 28% improvement on the average plant grade for 2020.

A total of 2,842 metres of horizontal development was completed during the quarter, bringing the year-to-date total to 9,376 metres.

"The company has followed up the excellent second quarter gold production with another solid 9,000 ounces of gold production for the third quarter meaning Serabi is on course to meet its 2021 production guidance," said chief executive officer Mike Hodgson.

"Higher mined gold grades drove the much-improved gold production compared with 2020, with third quarter mined grades averaging 7.18 grams of gold per tonne, representing a very healthy increase on the average of 5.59 grams of gold per tonne for the 2020 calendar year.

"As well as very pleasing gold production, the quarter saw the much anticipated start of mining operations at our Coringa gold project, a real milestone for the company as we set forth to achieve our mid-term objective of becoming a 100,000 ounce gold producer."

Hodgson said that with permits in place to start the mining operation, he was "delighted" to see mine development underway, and was looking forward to intersecting the first ore zone during the current quarter.

"We anticipate that the improved understanding arising from this underground ore development will deliver further economic benefits to the project.

"Finally, the quarter has seen steady mine site exploration progress at São Chico as well as further greenfield exploration at São Domingos.

"At São Chico, exploration drilling focused on the strike extension of the Julia Vein to the west of the mine."

Results announced to date were described by Mike Hodgson as "encouraging".

"Julia West is near surface and easy to develop, requiring minimal capital development to access.

"Drilling from both surface and underground will continue well into the next quarter."

At 1603 BST, shares in Serabi Gold were up 1.44% at 70.5p.

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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 93.50
52 Week Low 30.10
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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