14th Apr 2016 15:14
LONDON (Alliance News) - Serabi Gold PLC Thursday said it is assessing a number of potential acquisition opportunities as it tries to take advantage of the weakened market, stressing it will not pursue any deal that would make its operating costs rise.
"The company continues to consider and conduct its own preliminary internal due diligence and assessment on potential opportunities, including an underground producing gold mine asset, but there are no agreements at this time and as there are other potentially interested parties there is no certainty that any of these opportunities might actually proceed," said Serabi.
"Serabi will also only pursue those opportunities that can bring strong long term returns to existing shareholders and in particular, if the group's all-in sustaining costs of production (which amounted to USD892 per ounce in 2015) would be lowered," the company added.
Serabi shares were up 3.3% to 3.87 pence per share on Thursday.
By Joshua Warner; [email protected]; @JoshAlliance
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