GOLD NEWS

Serabi Gold sees double digit increases in gold production as company releases Q1 results

Thu May 02 2024

Serabi Gold (AIM:SRB, TSX:SBI) CEO Michael Hodgson joined Steve Darling from Proactive at our OTC studios in New York City to shared updates on the company's first-quarter highlights, showcasing significant improvements and progress in various areas. Serabi Gold reported a Q1-2024 gold production of 9,007 ounces, marking a notable 12.5% increase compared to Q1-2023 and representing the highest quarterly total reported since 2021. The Coringa project contributed 3,871 ounces of gold production at mined grades of 6.39 g/t gold, while the Palito plant processed a record quarterly total of over 54,000 tonnes of ore. Hodgson highlighted the successful arrival of a new ore sorter acquired for the Coringa project in Brazil, which has cleared customs and is en route to the site.

The company remains on track for the commissioning of the ore sorter in Q4-2024. Additionally, Serabi Gold has initiated work on an updated Preliminary Economic Study at Coringa, which will incorporate revised geological resources, mineral reserves, and economic analyses outlining the planned use of the classification plant and process at the Palito Complex. Serabi Gold is reiterating its FY2024 consolidated gold production guidance of 38,000 – 40,000 ounces, demonstrating confidence in its operational capabilities and project advancement strategies. These developments underscore Serabi Gold's commitment to delivering value to its stakeholders and maintaining its position as a leading player in the gold mining industry.

Source: https://www.proactiveinvestors.co.uk/