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Serabi Gold PLC - London-based Brazil-focused gold miner - Says it's on track to meet its gold production guidance of 30,000 ounces of gold in 2022. Finds up to 302.37 grammes of gold per tonne at its Coringa project in the Tapajos region of Para, a state in northern Brazil. Says produced 2,703 ounces of gold in July.
"Given the stabilised production levels, we intend to revert to reporting gold production on a quarterly basis going forward," Chief Executive Officer Mike Hodgson announces.
Regarding Coringa project, he says it is "progressing extremely well with close to 500 metres of on-lode development completed and further excellent channel sample results. We continue to split blast, ensuring a high-grade product is extracted from the development and we will be preparing the mine for initial stoping over the coming months. This will enable us to increase our production rate and continue to minimise dilution".
Current stock price: 43.50 pence, up 3.6% on Wednesday
12-month change: down 30%
By Tom Budszus; tombudszus@alliancenews.com
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