Business
Circ re. Q4 Investor Update
Circ re. Q4 Investor Update.
About this update from Serabi Gold Plc
[{"type":"text","content":"\n Serabi Mining plc\n19 January 2006\n\n\nQUARTERLY INVESTOR UPDATE\n------------------------- \n\nSerabi Mining plc advises that it has today despatched to shareholders its \nquarterly investor newsletter for the Fourth Quarter of 2005.\n\nThe Company has highlighted in its newsletter the following matters:\n \n• Continuing operating improvements throughout the year underlies 2005 \n production of 17,261 oz gold equivalent\n\n• Following new productivity initiatives, Q4 underground mining production \n was up 54% (89% including open cut material) and Q4 process plant \n throughput was up 50% over Q3 results\n\n• Major benefits expected to result from the introduction of decline access \n and long-hole trackless mining at Palito\n\n• Introduction of grid electricity and completion of capital projects about \n to benefit the Palito mine and emphasize Serabi's position as the only \n established operator in the Tapajos gold province\n\nPalito - Operating Results 2005 (1)\n\nYear-ended\n Q1 Q2 Q3 Q4 Dec 2005\nMining Rate:\nUnderground (per day) t 7,753 13,689 12,381 19,059 54,993\n (87) (150) (135) (207) (151)\n\nOpen Cut (2) (per day) t 4,394 4,394\n (48) (48)\nTotal Mined (per day) t 7,753 13,689 12,381 23,453 59,387\n (87) (150) (135) (255) (163)\n\nMilling Rate:\nMilled (per day) t 8,222 14,006 14,315 21,415 57,958\n (92) (154) (156) (233) (159)\nHead Grade g/t 9.3 8.6 12.1 7.7 9.2\nRecovery % 84.2 88.2 90.2 91.8 89.4\n\nProduction:\nGold oz 2,077 3,427 5,005 4,837 15,345\nCopper t 22.4 38.2 81.0 74.7 216.2\nGold equivalent oz 2,262 3,747 5,724 5,528 17,261\n\n1) Provisional\n2) November and December only; includes Compressor Lode oxide material and\nsurface material from Palito North\n\nPALITO\n------\nProduction levels improved throughout 2005 resulting in total gold equivalent \nproduction of 17,261 ounces for the year. Significantly, the initial impact of \nplans to overcome the mining bottleneck outlined in the September Investor\nUpdate are already evident in the December quarterly results. Underground mining \nrates reached an average of 207 tpd for the quarter and 232 tpd during November \nand December.\n\nThe first de-bottlenecking phase of a three stage process plant improvement plan \nwas completed during Q4. Average mill throughput for the quarter rose to \n233 tpd, however this reflected a transitional per...