Serabi Gold (SRB)

Sector:

Mining

Index:

FTSE AIM All-Share

90.00p
   
  • Change Today:
      1.00p
  • 52 Week High: 93.92p
  • 52 Week Low: 30.10p
  • Currency: UK Pounds
  • Shares Issued: 75.73m
  • Volume: 238,875
  • Market Cap: £68.16m
  • RiskGrade: 196
  • Beta: 0.46

Serabi Gold renews trial licence for Coringa

By Josh White

Date: Wednesday 31 Jan 2024

LONDON (ShareCast) - (Sharecast News) - Serabi Gold announced the renewal of its trial mining licence for the Coringa mine on Wednesday.
The AIM-traded firm said Brazil's National Mining Agency (ANM) granted a three-year extension to its trial mining licence (GU) for Coringa.

Under the renewed licence, Serabi would be permitted to transport up to 50,000 tonnes of ore annually from Coringa to be processed at the Palito Complex.

Additionally, the environmental agency, Secretaria de Estado de Meio Ambiente e Sustentabilidade (SEMAS), was currently evaluating the company's application for the installation licence for Coringa.

However, it had confirmed that Serabi Gold's trial mining operating licence (GUOL) remained active and valid.

With the renewal of the licence, Serabi said it would be able to proceed with plans to install a crusher and ore sorter at Coringa, with the latter expected to be operational by the fourth quarter of 2024.

That, the board said, would enhance the efficiency and productivity of the mining operations at the site.

"This is extremely welcome news, which our management and legal team have been working on tirelessly over the past months," said chief executive officer Mike Hodgson.

"The agreement reached in July with the indigenous communities has been a pivotal moment in permitting success at Coringa followed by a further agreement with all parties signed in December, and sanctioned by the court allowing the ANM and SEMAS to renew the existing licences."

Hodgson said the new GU would allow the company to continue its current operations, adding that it was permitted to install the planned crusher and ore sorter under it and the accompanying GUOL.

"Whilst the permit has an annual limitation of 50,000 tonnes of ore that can be transported per annum from the mine, this would be sufficient for 2024, whilst we now focus on completing the final steps to complete the full permitting at Coringa."

At 1537 GMT, shares in Serabi Gold were up 27.28% at 49.64p.

Reporting by Josh White for Sharecast.com.

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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 90.00p
Change Today 1.00p
% Change 1.12 %
52 Week High 93.92p
52 Week Low 30.10p
Volume 238,875
Shares Issued 75.73m
Market Cap £68.16m
Beta 0.46
RiskGrade 196

Serabi Gold Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
90.17% above the market average90.17% above the market average90.17% above the market average90.17% above the market average90.17% above the market average
32.28% above the sector average32.28% above the sector average32.28% above the sector average32.28% above the sector average32.28% above the sector average
Price Trend
98.80% above the market average98.80% above the market average98.80% above the market average98.80% above the market average98.80% above the market average
95.62% above the sector average95.62% above the sector average95.62% above the sector average95.62% above the sector average95.62% above the sector average
Income Not Available
Growth
33.74% below the market average33.74% below the market average33.74% below the market average33.74% below the market average33.74% 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 21-Nov-2024

Time Volume / Share Price
16:28 21,395 @ 92.99p
16:25 6,000 @ 92.85p
16:14 967 @ 90.96p
16:12 10,849 @ 92.17p
16:11 1,073 @ 90.85p

Serabi Gold Key Personnel

Finance Director Clive Malcolm Line
CEO Michael Hodgson

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