Business
Q4 Investor Update
Q4 Investor Update.
About this update from Serabi Gold Plc
[{"type":"text","content":"\n Serabi Mining plc\n24 January 2007\n\nSERABI MINING plc ('Serabi' or 'the Company')\n\nQUARTERLY INVESTOR UPDATE\n\n\n\nSerabi Mining plc ('Serabi' or 'the Company') advises that today it has\ndispatched to shareholders its investor newsletter for the fourth quarter to\nDecember 31, 2006\n\n\n\nThe company has highlighted in its newsletter the following matters. The full\nversion of the quarterly update is available from Serabi's offices or from the\nCompany's website www.serabimining.com.\n\n\n\n> Expansion projects at the Palito mine result in 127% year-on-year\n production increase to 39,197 oz gold equivalent in 2006, compared with 17,261\n oz in 2005\n\n> Record quarterly production of 11,687 oz gold equivalent achieved in \n December, a 20% increase over the third quarter\n\n> Further positive production developments expected at Palito early in 2007 \n with the introduction of additional mining equipment and increased use\n of new mining method\n\n> Commissioning of new mill significantly increases process capacity\n\n> Follow-up work at various Jardim do Ouro projects highlights further \n potential close to the Palito mining operation\n\n\n Palito - Operating Results\n\n 2006(1) 2005\n\n Q1 Q2 Q3 Q4 Year-end(2) Year-end\nTotal mined t 32,820 34,055 42,357 42,007 151,239 54,993\n(per day) (365) (374) (460) (457) (414) (151)\n\nMined ore t 31,555 31,864 34,598 34,072 132,089 54,993\n(per day) (351) (350) (376) (370) (362) (151)\n\nMilled t 25,514 29,851 29,492 32,760 117,618 57,958\n(per day) (283) (328) (321) (356) (322) (159)\n\nHead grade g/t 9.3 9.7 9.2 9.4 9.4 9.2\n\nRecovery % 91.9 91.3 91.4 91.0 91.4 89.4\n\nGold oz 7,017 8,527 7,974 8,980 32,498 15,345\n\nCopper t 98.0 107.1 139.2 224.6 568.9 216.2\n\nGold equivalent oz 7,927 9,815 9,768 11,687 39,197 17,261\n(3)\n\n\n\n(1) Provisional (2) Reflects rounding and/or minor adjustments at year-end\n(3) Includes Copper and Silver\n\n\n\nPALITO MINE\n\nMining\n\nImproved underground mining rates continued into the fourth quarter, with a\nyear-on-year increase of almost 175% and more than four fold since the beginning\nof 2005. The challenge is now to establish sufficient access drives and\ndevelopment fronts necessary to maintain and grow production further. To assist\nin this regard important progress has recently been made with the following\nitems:\n...