RE: Rns13 Jul 2022 16:58
Overall really good RNS.
Much better Q2 figures showing us how well we’re progressing.
Slightly deceiving H1 figures frustratingly due to Q1.... however all of this we knew or should have known.
Looking into H2, Q3 and 4, we should be getting continued and progressively stronger results, production figures etc.
Just the PoG holding us back a bit but is being strongly considered that this should bounce back over the next few months.
With the 3 key factors that Mike H (CEO) has mentioned in this ops review RNS, we should be seeing some very bright and optimistic months ahead.
Extract below pointing these three factors out for this latest Q2 and following into Q3 and Q4...... see RNS otherwise for full review.
“ It has been an excellent quarter for Serabi with significant progress on three fronts.
We have seen a strong recovery in production from the Palito operations with 8,418 ounces produced, a 19% increase on Q1. This improvement has been driven by the measures we implemented during the first quarter and is a testament to the hard work of the operational team. We continue to optimise the Palito operation and with the increased production this should improve our unit costs going forward.
“Development at Coringa continues to progress extremely well. The underground mine development is advancing to plan and generating high grade ore that we are trucking to Palito. Given the success of the ore sorting test work, we are now undertaking internal studies to evaluate an incremental development approach whereby we install a crushing plant and ore sorter at Coringa to generate a higher-grade product to truck to Palito. Both the crushing plant and ore sorter are required as part of the full processing plant but installation now, as an interim step, will allow us to increase our short-term production and revenue, and therefore provide the opportunity to fund more of the development from cash flow thereby reduce the level of future debt capital required for the full plant construction.
“The exploration highlight for the quarter was the receipt of multi-element assay results from the three holes drilled at the Matilda Prospect confirming a porphyry discovery. Each hole encountered anomalous mineralisation from top to bottom including some zones of higher grade. We are working with external porphyry experts to plan the next phase of exploration. In parallel, we have received interest from a number of major mining companies for further information. We will therefore evaluate the best options for the Company to move the Matilda Prospect and other regional targets forward over the coming months.”
Rather intrigued by this “interest” from several major mining companies.
Could this mean a hefty “ka-ching???” Co-partnership?? Healthy buy out offer?.?
Whatever the case...... very pleased with what I’ve read and there’s not really much at all that others here can justify as a real negative.
Just the SP is still so..... gggggrrrrr