Here is the link to our recent interview with
$SBI -
https://youtu.be/xR4Wof1BToU It's been a tough year for most gold producers in Brazil, very tough. Workforce travel restrictions, extras measures put in place to protect against COVID-19 and managements inability to but the planning and preparation from 2019 has saved the day at Serabi. They have been processing working through large stockpiles reserves and managed to organise the restricted number workforce so that work could carry on.
The usual balancing of processing grades has been affected so overall grade has dropped. The ore sorter has helped to deliver 7,200oz, down from the 8,000 hoped for and down from the usual 10,000oz. Looks like this year will finish somewhere between 32,000oz and 34,000oz. Down from the guidance of 40,000oz. Hodgson says if that is the case it that will have been a fantastic result in the circumstances.
The upside to all of this is that Serabi Gold's finances have never been better. They started the quarter with $9.6M, paid $2.6M to Equinox and still managed to finish the quarter with $11M. The LP came through for Coringa their other 40,000oz producer and work begins in earnest there. And he also seems very keen to send one of the 5 drills to some high-grade artisanal workings near to the Palito mine. Honest reporting as ever from Hodgson, with a plan to play catch up between now and the end of Q1/21