Serabi Gold PLC - gold miner in Brazil - For the three months ended December 31, gold production increases 5.8% to 7,678 ounces from 7,254 ounces the same period a year before, leading to a 8.4% increase for 2021 as a whole to 33,848 ounces from 31,212 ounces in 2020.
At the Coringa project, ramp development on the Serra orebody continued as planned, and has advanced 120 metres towards the first of three veins which is forecast to be intersected on the 320 meters Relative Level later in January.
Looking ahead, despite struggles with supply chain issues following the Covid-19, Serabi has guided for a rise in output between 36,000 and 39,000 ounces for 2022.
"A solid fourth quarter has resulted in the company meeting guidance and ending the year with approximately 34,000 ounces of gold production, a 7% improvement on 2020 production. The return of higher mined grades have really been the highlight of the year, up by 17%, a dramatic improvement, with much of this down to the established lodes, 'Ipe' and 'Mogno' located within the Chico da Santa sector, that have been the cornerstone of the Palito Complex production during 2021," says Chief Executive Officer Mike Hodgson.
Current stock price: 55.95 pence, down 3.5% on Monday
12-month change: down 39%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Serabi (SRB)