Serabi Mining plc
21 October 2005
QUARTERLY INVESTOR UPDATE
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Serabi Mining plc advises that it has today despatched to shareholders its
quarterly investor newsletter.
The Company has highlighted in its newsletter the following matters:
• Production ramp up continues at Palito
• Focus on short term planning and new operating efficiencies set to benefit
1H 2006
• 2005 drill results highlight long term potential at Palito and the Jardim
do Ouro district
• Acquisition of advanced Pombo Gold Project in southern Tapajos accelerates
regional project development
PALITO OPERATING RESULTS 2005 (1)
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Quarter ended Quarter ended Year-to-date
June 30 (2) September 30 September 30
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Mined (per day) tonnes 13,689 12,381 36,034
(150) (135) (132)
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Milled (per day) tonnes 14,006 14,315 36,543
(154) (156) (134)
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Head grade g/t 8.63 12.06 10.13
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Recovery % 88.2 90.2 88.3
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Gold produced ounces 3,427 5,005 10,509
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(1) Provisional (2) Revised
PALITO
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The operation has performed well during the quarter, with production continuing
to improve. Against this background, management has recently embarked upon two
important initiatives:
• Introducing plans to overcome the short-term mining bottleneck discussed in
the June Investor Update, to ensure mine production matches the planned
processing plant upgrades currently underway
• A re-assessment of the Palito resource at year-end, in combination with the
development of a more detailed long term mine plan
A programme is in place to enable process capacity to achieve 250tpd by year-end
and further upgrades are planned to take capacity to 300-350 tpd soon
thereafter.
The full text of the quarterly update is available from Serabi's offices or from
the website www.serabimining.com.
Enquiries: Serabi Mining plc
Graham Roberts Tel: 020 7618 7752
Chairman Mobile: 07768 902 475
Clive Line Tel: 020 7618 7754
Finance Director Mobile: 07710 151 692
Chris Sattler Tel: 020 7618 7774
Manager, Finance and Corporate Development
email: contact@serabimining.com
This information is provided by RNS
The company news service from the London Stock Exchange