16th Apr 2015 10:07
LONDON (Alliance News) - Serabi Gold PLC on Thursday said it is making progress on the ramp up of operations at the Sao Chico and Palito gold mines in Brazil.
In the first quarter to the end of March, Serabi said gold production from the two sites reached 7,759 ounces, with 3,005 ounces produced in March, the highest monthly production level so far.
Serabi said its current forecast for gold production from the sites for the year remains at 35,000 ounces, with all-in sustaining costs of USD900 to USD950 per ounce.
Shares in Serabi were up 10% to 4.95 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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