Business
Chief Executive's AGM Statement to Shareholders
Chief Executive's AGM Statement to Shareholders.
About this update from Serabi Gold Plc
[{"type":"text","content":"\n Chief Executive's AGM Statement to ShareholdersFor immediate release 14 June 2019Serabi Gold plc(“Serabi” or the “Company”)AGM StatementSerabi Gold plc (AIM:SRB, TSX:SBI), the Brazilian focused gold mining and development company, advises that at 3:30 pm today (UK time), it will be holding its Annual General Meeting.The following is the text of the statement that will be made by Mr. Mike Hodgson, the Chief Executive of the Company. Highlights of the statement are:Gold production is on budget and the Company remains on target to achieving its full year guidance of approximately 40,000 to 44,000 ounces of gold.Exploration results generated during 2018 have been extremely exciting with significant potential to grow the mineral resource especially in the vicinity of the current Sao Chico ore body.Initial results from a new Preliminary Economic Assessment for the Coringa project are expected to be issued during the early part of the third quarter of 2019 and will reflect the 37% increase in mineral resource.“2018 was a very satisfying year for Serabi. Our Palito/Sao Chico Tapajos operation continued to perform extremely well, with excellent grades, and total annual gold production exceeding that for 2017. At Coringa, we have made very pleasing progress with the permitting of this project and the award of a trial mining license and following the year end, we issued a new geological resource report showing a 37 per cent increase in the total gold resource. Across all of our tenements, the year also saw the long overdue return of our exploration activity. “As I commented in the Company’s operational update for the first quarter of 2019, we are continuing to maintain very good levels of gold production from our current Tapajos operations. Gold production for both the final quarter of 2018 and the first quarter of 2019 both exceeded 10,000 ounces, the first time we have achieved two successive 10,000 ounce quarters and, as of today, the second quarter of 2019 looks to be at similar levels. So, as we approach the middle of the year, we remain very much on course to achieving our full year guidance of between 40,000 to 44,000 ounces of gold. “Mining and development on both orebodies is continuing as planned, and in t...