The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
News September 29, 2010 Serabi Mining’s Operating Licence Is Reinstated At Palito, And Exploration Drilling Should Now Get Underway Within A Matter Of Weeks By Alastair Ford http://www.minesite.com/nc/minews/singlenews/article/serabi-minings-operating-licence-is-reinstated-at-palito-and-exploration-drilling-should-now-get-u/1160.html Shares in Serabi Mining shot up to an 11-month high of just over 3p in early trade on Friday September 24th. One or two investors may have been buying in on the strength of the gold price, which at that stage was making its last concerted assault of the week on US$1,300, but the real interest came in the wake of Serabi’s early morning announcement that its operating licence at Palito in Brazil had been re-instated after a short period of suspension. It’s never nice to fall out with the local environmental authorities, and Serabi, which has had its fair share of problems over the years, did not enjoy being at the wrong end of Brazil’s IBAMA agency one bit, even if it felt the case it was being asked to answer was fairly slim. Certainly it didn’t appear to deter Toronto-listed Eldorado Gold, which was in the midst of negotiating a £3.6 million funding deal with Serabi when IBAMA waded into the fray. On balance, Serabi felt able to hold its hands up to some minor infractions, including its failure to monitor the effects of its operations on local flora and fauna. However, there were mitigating circumstances. Not the least of these was a strike at IBAMA, which had held up Serabi’s application to remove flora and fauna... Not long to wait now
The survey was divided into 3 discrete areas, identified as the TZ1, located to the north of the Palito Mine, TZ2, located south east of Palito and TZ3 located to the south. A diagram is appended to this release for reference purposes. In the TZ1 area 5 significant, highly conductive - low resistivity anomalies were identified. One of these is a large anomaly lying within the historical "Pele" area. The Pele area has seen significant past garimpeiro surface gold mining activity and is associated with a geochemical anomalism. Additionally a low resistivity anomaly was found with a strike length of 800m which may represent a different style of mineralisation to Palito. Significantly, this corresponds to the historic Tatu Garimpo trend, where the company has previously discovered rock chip samples with gold grades up to 191g/t from quartz - magnetite veining considered to be from within a brittle fault zone, with minimal or no sulphide association. The results also identified a further three chargeability anomalies which follow and lie within the dominant regional 070° trending structural corridor which hosts the main Palito mineralization. These geophysical anomalies potentially represent chargeable sulphides manifesting along geological structures. Within the TZ2 area, the most significant zone of IP anomalies were defined at the Kubanikan prospect area, where a chargeable complex, containing at least 6 discrete, sub-parallel, chargeable bodies, has been found. This chargeable, conductive complex, displays very similar geophysical attributes to that of the Palito Main Zone. This zone remains open to the east and west, with indications that the chargeable bodies continue in both strike directions. In the TZ3 survey area, south of the Palito mine, two (2) significant IP anomalies were defined, the most significant of which is a high chargeability anomaly, exceeding 500m in length, and certainly appears to be similar to those associated with the plunging ore zones and shoots within the Palito Main Zone Serabi is currently in final negotiations with drilling contractors, and remains on schedule to commence drilling in July 2010. Serabi will also take the opportunity to complete further IP surveys in July, to further extend and delineate the significant TZ2 and TZ3 anomalies. A map showing the survey areas and the drill targets is appended to this release. The full release including the map is available to download from the company's website
Just to remind ourselves - this was going to occur in July 2010 before ban. This is what we have to look forward to - alot.... Serabi, the AIM-traded gold exploration and production company, announces a Progress Update Report on the Company's 100% owned Palito gold project in the Tapajos region of northern Brazil. Highlights DRILLING EXPECTED TO COMMENCE IN JULY 2010 9 DRILL READY TARGETS identified from initial survey over 14 EM anomalies TO THE EAST OF PALITO A chargeable complex, containing at least 6 discrete, sub-parallel, chargeable bodies, has been found FURTHER IP SURVEYS PLANNED TO FURTHER EXTEND AND delineate some of the anomalies identified Further to the Company's press release of 9 April, the initial follow-up ground-induced polarisation ("IP") geophysical survey at the Company's Jardim do Ouro project in the state of Para, Northern Brazil, which commenced in mid-March, has now been completed and the interpretation of the results undertaken. This Survey was a follow-up to the company's successful airborne Electromagnetic ("VTEM") geophysical survey, which had highlighted a significant number of geophysical targets within close proximity to its Palito mine, of which the Company had prioritized 18 targets that it believed merited further evaluation. The IP Survey focused on 3 main areas lying within 5km of the Palito plant and infrastructure, parts of which fall within the existing mining lease. These three areas covered 14 of the18 initial VTEM targets. Data interpretation and integration of the recent IP results with all other pre-existing exploration datasets has delineated at least nine significant targets warranting drill testing at the earliest opportunity. These anomalies exhibit high chargeability - low resistivity attributes, properties one would expect to find associated with sulphide bodies and which are characteristics of the gold bearing sulphide bodies found at Palito. Mike Hodgson, Chief Executive of Serabi Mining, commented: " The Company views these results with great optimism and excitement. To be rewarded with 9 drill targets from a ground survey testing an initial 14 anomalies was well beyond the expectations we had at this stage. Furthermore, it has demonstrated that using EM as a first pass exploration tool and following up with ground IP, has been shown to be a valid and excellent exploration process for the identification of sulphide hosted gold bodies in this area of the Tapajos. As a result, we are well on schedule to be drilling by July this year, the outcome of which we will be eagerly anticipating. Furthermore, the success of our geophysical exploration means that we will also be extending our IP surveys to cover the remaining target areas. We hope that these in turn, will generate additional drill targets. We hope to be making substantial progress in our quest to make further discoveries and resource growth at Serabi by the end of this year. "
dropping it to hover up some stock News for this company will be good when released Worth the hold a company trading at 3p!! This should be at 12
Here is another one to add http://britishbulls.com/StockPage.asp?CompanyTicker=SRB&MarketTicker=Basic%20Materials&TYP=S Not bullsh@t of course
checked in What a result. A long time coming and now in profit after waiting almost a year - doh Something was brewing yesterday and thought we may just see a 2 day rise. Bring on the RNS and the monster gold deposit find GLA
Tick up - 3.1 / 3.5 Up 28.2% This is a little quiet on the boards today but good to see that it is pulling through Looks like some updates are ue soon GLA
Is our news finnally imminent and just around the corner 10p here we come
3 / 3.5
Tick up again 3 / 3.25 sp - 3.25 Up 26.2%
1 VS 1 20.000 Next tick up to 3 / 3.35 and then to 3.45 Come on SRB. Top of the leader board for you today Buy on rumour!!!!!
again 3 / 3.25 up 21.4%
now 2.95 / 3.25
Again 2.75 / 3 1 vs 1 Next stop 2.75 / 3.2
we are off people All aboard 2.7 / 3 2 vs 2 40.000
up 216% .470 / .480
For the record Share Price: 3.13 Bid: 3.10 Ask: 3.15 Change: 1.18 (+60.26%)
on a day trade but couldnt get better than a 46p offer Now its dropping HAIK Bid: 42p Offer: 45p Change: 7.5
HAIK Bid: 45p Offer: 47p Change: 10
Market Manipulators !