1st Feb 2016 09:55
LONDON (Alliance News) - Brazil-focused gold miner Serabi Gold PLC on Monday said its gold production dipped sequentially in the fourth quarter and it has now declared commercial production at the Sao Chico mine.
Serabi said its gold production in the fourth quarter to the end of December was 7,924 ounces, down from 9,078 ounces in the third quarter. For the full year, gold production hit 32,629 ounces.
The company declared commercial production at the Sao Chico mine on January 1 and said is continuing development work on the project, including the installation of a third ball mill and the acquisition of a carbon regeneration kiln.
Shares in Serabi were up 9.1% to 3.00 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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