Serabi Gold Ord Shs T.SBI

Alternate Symbol(s): SRBIF

Metals & Mining Gold

Serabi Gold plc is a United Kingdom-based gold mining and development company. The Company is focused on conducting gold mining and exploration in Brazil. It operates the Palito Mining Complex and the Coringa Project, in the Tapajos region of the State of Para. The Palito Mining Complex is formed by approximately 64,707 hectares (ha) of tenements, including 1,150 ha of mining concession. In addition, there are 2,877 ha in mineral exploitation applications, 41,588 ha in mineral exploration licenses, 15,896 ha in three extension requests for exploration licenses and two applications for exploration comprising over 3,196 ha. Palito Mining Complex consists of the Palito and Sao Chico gold deposits in Para State in central north Brazil. Its Coringa Gold Project is located approximately 200 kilometers (km) south of Palito and 70km southeast of the city of Novo Progresso in the State of Para. Its five zones of vein mineralization include Valdette, Galena, Mae de Leite, Meio and Come Quieto.

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Serabi Gold Ord Shs

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Comment by evilknievalon Aug 20, 2011 2:08am

281 Views

Post# 18962979

RE: Wil They Resume Gold production ?

One would hope so.

This is the statement they made at time of decision to put mine on care and maintenance.

https://fool.uk-wire.com/Article.aspx?id=20080917070500H2041

At that time gold was around $800/oz.

In the months leading up to the shut down they were producing at a rate of 20,000 oz p.a. compared with target of 40,000 oz p.a.

One would hope the potential of $20-40m p.a. additional cashflow would make them consider the possibility of re-start or at least some partial restart ?

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