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Pin to quick picksSerabi Share News (SRB)

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Serabi Gold reports solid end to 2015 production

Mon, 01st Feb 2016 14:21

(ShareCast News) - Serabi Gold was looking ahead with optimism on Monday, as it updated the market on its third quarter production at its mining operations at Palito and Sao Chico in Brazil.The AIM-traded Brazil-focused gold mining and development company said that, in the final quarter of 2015, it recorded 7,924 ounces of gold production.That made for a year-end gold total of 32,629 ounces for the firm.Serabi's combined mill throughput for the fourth quarter, for both Palito and Sao Chico facilities, totalled 34,848 tonnes. A total of 130,300 was milled during the year.Quarterly mine production was 33,959 tonnes, with 29,953 tonnes from Palito at a grade of 8.84 grams per tonne, and 7,006 tonnes from Sao Chico at a grade of 9.76 grams per tonne.Serabi's progress on its horizontal mine development during the quarter totalled 1,960 metres at Palito and 729 metres at Sao Chico. A total of 9,599 metres of horizontal development was achieved during the year."With almost 33,000 ounces produced in 2015, and four strong quarters of production I feel we can look forward to further growth in 2016", said Serabi CEO Mike Hodgson."With Palito very much in regime, new sectors being opened up and Sao Chico delivering more reliable tonnage and grades, which at times are spectacularly high, it is an exciting time of growth", he added.Serabi Gold said at the end of the quarter, surface stockpiles at both Palito and Sao Chico totalled 16,000 tonnes at a grade of 4.7 grams per tonne of gold.November also saw the commissioning of the Gekko intensive leach reactor, which - in tandem with the Falcom gravity centrifugal concentrator -was working exclusively on the Sao Chico feed to recover gravity gold.Serabi said the installation of the third ball mill was also well underway, with its completion due to come early in the second quarter of 2016."We are providing guidance that gold production for 2016 will be approximately 37,000 ounces", Hodgson concluded.At 1135 GMT, shares in Serabi Gold were up 9.09%, trading at 3p.
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4 Jun 2014 14:41

DIRECTOR DEALINGS: Serabi Gold Non-Executive Director Sells Shares

LONDON (Alliance News) - Serabi Gold PLC Wednesday said Non-Executive Director Daniel Kunz sold 5.1 million shares in the company at a price of 5.75 pence per share on Tuesday. The gold mining company said Kunz sold the shares to Fratelli Investments Ltd, which now holds 343.6 million share

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14 May 2014 11:41

Serabi Gold Pretax Loss Narrows On Foreign Exchange Savings

LONDON (Alliance News) - Serabi Gold PLC Wednesday said its pretax loss narrowed slightly in the first quarter, as lower foreign exchange costs helped the company in its move towards revenue from its Palito mine. The Brazil-focused gold miner, which is yet to produce any revenues, said its

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7 Apr 2014 09:49

Serabi Gold Announces Mixed Palito Quarterly Production

LONDON (Alliance News) - Serabi Gold PLC Monday said it has achieved mixed production rates from its Palito Mine following successful commissioning and initial switch-on in December. The Brazil-focused gold miner said its first quarter gold production was 2,300 ounces, from 11,387 tonnes of

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5 Feb 2014 13:06

UK MIDDAY BRIEFING: RSA Insurance Buoyed By Ex-RBS Boss Appointment

LONDON (Alliance News) - The FTSE 100 is on the verge of snapping a five day losing streak Wednesday, led higher by the likes of RSA Insurance Group, which unveiled its new chief executive, and GlaxoSmithKline, which has just reported strong results.
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5 Feb 2014 11:41

UK WINNERS & LOSERS: Hargreaves Lansdown Warns On Low Interest Rates

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Wednesday.

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FTSE 100 - WINNERS

RSA Insurance Group, up 3.5%. The troubled insurer said late Tuesday t

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5 Feb 2014 08:54

Serabi Gold Jumps As It Hits More High-Grade Gold At Sao Chico

LONDON (Alliance News) - Serabi Gold PLC Wednesday said its exploration programme at its Sao Chico gold project had intersected further high-grade gold deposits, suggesting a significant extension of the mineralisation at the site. In a statement, the Brazil-focused gold miner said the late

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5 Feb 2014 08:12

UK MORNING BRIEFING: Insurers In Focus As Stephen Hester Joins RSA

LONDON (Alliance News) - Shares have continued their slide at the open Wednesday, despite a positive close overnight on Wall Street.

Brokers have been taking a look at UK insurers after RSA Insurance sprung a positive surprise late Tuesday by appointing turnaround a

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8 Oct 2013 11:09

UK WINNERS & LOSERS: M&S Dips But Aeorema Jumps As It Recommends First Dividend

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8 Oct 2013 10:04

Serabi Gold Prepares Mining License Application After Strong Sao Chico Results

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8 Oct 2013 09:40

STOCKS NEWS EUROPE-UK small caps flat, outperform wider market

The FTSE Small Caps Index trades flat, but outperforms the blue-chip FTSE 100 index and the FTSE 250 mid-cap index which are down by 0.8 percent and 0.3 percent respectively. Daisy Group, provider of business communication services, gains 6.5 percent after saying it is performing in line wi

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24 Jun 2013 07:36

Monday broker round-up UPDATE

Andor Technology: WH Ireland cuts target price from 500p to 380p, while staying with its buy recommendation. Investec upgrades from hold to buy with a target price of 360p. Ashtead Group: Numis raises target price from 582p to 640p, while downgrading to hold. Bellzone Mining: Investec lowers targe

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25 Feb 2013 13:13

Shares jump as Serabi Gold completes dewatering of Palito mine

Shares in AIM-listed Serabi Gold rose on Monday after the Brazil-focused gold mining and exploration company published its second operational update on mining operations at its high-grade Palito gold mine in Para state. The company reported that it had completed dewatering of the mine in January an

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28 Jan 2013 13:02

Serabi gold issues 13.6m shares to board directors

AIM-listed mining company Serabi Gold has awarded 13.6m shares to members of its board, a statement issued by the company on Monday disclosed. The company, which is currently transitioning from a gold exploration business to a mine developer, stated that gold production is expected to go ahead befo

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18 Jan 2013 06:45

STOCKS NEWS EUROPE-UK small caps close 0.5 percent higher

The FTSE Small Caps index closes 0.5 percent higher, with the mid caps ahead 0.6 percent, and the blue chips up 0.5 percent. NCC Group gains 5.5 percent as the international, independent provider of Escrow and Assurance reports a 13 percent rise in first-half group revenue to 48.1 million p

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2 Oct 2012 10:21

Resources round-up: Kalimantan Gold, Serabi Gold, Ariana Resources

Kalimantan Gold plunged 22 per cent after it said Tigers Realm Metals had pulled out of drilling at its Jelai epithermal gold project in Indonesia. "TRM did not see the results it expected in [its] modest 6-month drill test and they have provided notice to withdraw from the option deed effective Sep

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