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Serabi Gold PLC- exploration and production company focussed on Brazil - Says the UK executive management and the board has suspended two local managers in Brazil. The company says it has engaged lawyers in Brazil who have commenced their own internal enquiries whilst BDO LLP, Serabi's auditors, are undertaking further work to resolve the audit issues identified in Brazil.
Serabi notes that continuing production at Palito and Sao Chico is unaffected, and it expects to provide its routine update on production for the first quarter towards the end of April.
Current stock price: 61.00 pence, down 9.0% on Tuesday
Year-to-date change: down 37%
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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