Business
Q1 2024 Production Results and Operational Hi...
Q1 2024 Production Results and Operational Hi....
About this update from Serabi Gold Plc
[{"type":"text","content":"\n\n \n \n\n Q1 2024 Production Results and Operational Highlights\n\nQ1 2024 Production Results and Operational Highlights Serabi Gold plc (“Serabi” or the “Company”) (AIM: SRB, TSX: SBI), is pleased to announce the Company’s first quarter production results and operating highlights for FY2024. (All financial amounts are expressed in U.S. dollars unless otherwise indicated). QUARTER HIGHLIGHTS Q1-2024 gold production of 9,007 ounces; a 12.5% improvement on Q1-2023 and the highest quarterly total reported since 2021. Coringa contributed 3,871 ounces of gold production at mined grades of 6.39 g/t gold.Palito plant processed a record quarterly total of over 54,000 tonnes of ore. Cash held on 31 March was $11.1 million, with a further $1.1 million owed for sales made in Q1, vs. cash held on 31 December of $11.6 million.The ore sorter acquired for Coringa has successfully arrived in Brazil, cleared customs and is now enroute to site. Serabi continues to expect commissioning of the ore sorter in Q4-2024.In January 2024, the National Mining Agency (“ANM”) renewed Serabi’s GUIA trial mining license for the Coringa operation for a 3 year period.NCL Ingeniería y Construcción SpA of Santiago de Chile (“NCL”) have been retained and have commenced work on an updated Preliminary Economic Study (PEA) at Coringa, which will incorporate a revised geological resource, mineral reserve, and economic study outlining the planned use of the classification plant and process at the Palito Complex.The Company is reiterating FY2024 consolidated gold production guidance of 38,000 – 40,000 ounces. An interview with Mike Hodgson, CEO by Crux Investor can be accessed using the following link –https://youtu.be/8ez5vVY2Fz0 An interview with Mike Hodgson, CEO by BRR Media can be accessed using the following link - https://www.brrmedia.co.uk/broadcasts-embed/661d1cd8591bc168ede76734/serabi-gold/?popup=true Mike Hodgson, CEO of Serabi, commented: “A very satisfactory start to the year with over 9,000 ounces produced, in line with guidance. This has been the highest quarterly total since Q3-2021. The process plant continued to perform admirably with a quarterly record of over 54,000 milled tonnes. Mine output exceeded 56,000 tonnes, which was also the highest ROM total in 3 years. “There continued to be significant mine development at Corin...