29th Sep 2014 08:49
LONDON (Alliance News) - Brazilian-focused gold miner Serabi Gold PLC Monday said it has secured an GBP8 million loan from Sprott Resource Lending Partnership, part of Canadian investment manager Sprott Inc.
"I view the decision by Sprott to provide a loan facility to Serabi as a significant endorsement of the achievements we have made and continue to make at Palito and our ability to continue to increase production during the rest of 2014," said Serabi Chief Executive Officer Mike Hodgson.
With the ongoing development of the Sao Chico project, this production growth can be expected to continue through 2015. The additional working capital that this facility provides will give the group additional flexibility in executing its development plans," Hodgson added.
Serabi Gold shares were untraded on Monday, quoted at 5.375 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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