Business
Serabi Gold plc : Interim Results for the 6 mon...
Serabi Gold plc : Interim Results for the 6 mon....
About this update from Serabi Gold Plc
[{"type":"text","content":"\n Serabi Gold plc : Interim Results for the 6 months to 30 June 2013 For immediate release 14 August 2013SERABI GOLD PLC (\"Serabi\" or \"the Company\")Interim Results for the 6 months to 30 June 2013Financial Results for Second Quarter 2013 and Management Discussion and Analysis Serabi Gold plc (AIM:SRB, TSX:SBI and SBI.WT), the Brazilian focused gold exploration and development company, advises that it has today published its unaudited financial results for the 3 month and 6 month periods ending 30 June 2013 and at the same time has also published its Management Discussion and Analysis for the same periods. Both documents, together with this announcement, have been posted on the Company's website at www.serabigold.com and are also available on SEDAR at www.sedar.com. Corporate and Operational Highlights On 17 January 2013 the Company completed the placement of 270 million new ordinary shares to raise in aggregate GBP£16.2 million to finance the development of the Palito Mine project as outlined in the PEA. The placement of new shares was underwritten by Fratelli Investments Limited, one of the Company's major shareholders. The Palito mine remains on schedule to commence gold production at the end of 2013 New mine management team and contract mining personnel in place. All new mining fleet fabricated and either delivered or in process of delivery to site. All other major items of surface or underground equipment acquired. Refurbishment of primary crushing plant complete. Gravity concentrator ordered and gravity tower in construction for completion end of September. Foundations for mill being laid and mill being overhauled. Flotation building and structures completed and flotation cells being refurbished. Filtration plant expected to be complete by the end of September. Gold room in construction with completion expected at the end of October. Uncrushed run of mine ore stockpile of 5,900 tonnes as at the end of July 2013. Target of 15,000 tonnes prior to plant commissioning. Contract negotiations at an advanced stage for the refining and purchase of the copper/gold concentrate that will be produced at the Palito Mine. Completion of the acquisition of Kenai Resources Limited (\"Kenai\") on 18 July 2013 bringing under ownership the high gra...