Trial mining license at Coringa renewed for a further three years
January 31 2024 - 2:00AM
UK Regulatory
Trial mining license at Coringa renewed for a further three years
Trial mining license at Coringa renewed for a further
three years.
Serabi Gold plc (“Serabi” or the
“Company”) (AIM: SRB, TSX: SBI), is pleased to announce a
three year renewal of the trial mining licence for its wholly owned
Coringa mine (“Coringa”).
HIGHLIGHTS
- The National
Mining Agency (ANM) has issued a renewal of the Company’s trial
mining licence (“GU") for Coringa for an additional three years,
demonstrating continued stakeholder support for Coringa.
- The GU permits
the transport of up to 50,000 tonnes of ore per annum from Coringa,
to be processed at the Palito Complex.
- The
environmental agency Secretaria de Estado de Meio Ambiente e
Sustentabilidade (“SEMAS”) is continuing its analysis of the
company’s application for the Installation Licence for Coringa but
has confirmed that the Company’s Trial Mining Operating Licence
(“GUOL”) remains active and valid.
- Serabi is now
permitted to install the planned crusher and ore sorter, the latter
expected to be operational by Q4-2024
- The official
announcement of the three-year renewal of the GU was published on
29 January 2024.
- Company guidance
of FY 2024 consolidated gold production remains at 38,000 – 40,000
ounces.
Mike Hodgson, CEO of Serabi,
commented:
“This is extremely welcome news, which our
management and legal team have been working on tirelessly over the
past months. The agreement reached in July 2023 with the indigenous
communities has been a pivotal moment in permitting success at
Coringa followed by a further agreement with all parties signed in
December 2023 and sanctioned by the court allowing the ANM and
SEMAS to renew the existing licences.
The new GU allows us to continue our current
operations and importantly we are allowed to install the planned
crusher and ore sorter under this and the accompanying GUOL. Whilst
the permit has an annual limitation of 50,000 tonnes of ore that
can be transported per annum from the mine, this would be
sufficient for 2024, whilst we now focus on completing the final
steps to complete the full permitting at Coringa.
Enquiries
SERABI GOLD plc
Michael
Hodgson t
+44 (0)20 7246 6830
Chief
Executive m
+44 (0)7799 473621
Clive
Line t
+44 (0)20 7246 6830
Finance
Director m
+44 (0)7710 151692
Andrew
Khov m +1
647 885 4874
VP Investor Relations & Business Development
e
contact@serabigold.com
BEAUMONT CORNISH Limited
Nominated Adviser & Financial Adviser
Roland Cornish / Michael
Cornish t
+44 (0)20 7628 3396
PEEL HUNT LLP
Joint UK Broker
Ross
Allister t
+44 (0)20 7418 9000
TAMESIS PARTNERS LLP
Joint UK Broker
Charlie Bendon/ Richard
Greenfield t
+44 (0)20 3882 2868
CAMARCO
Financial PR - Europe
Gordon Poole / Emily
Hall t
+44 (0)20 3757 4980
HARBOR ACCESS
Financial PR – North America
Jonathan
Paterson t
+1 475 477 9401
Copies of this announcement are available from
the Company's website at www.serabigold.com.
See
www.serabigold.com for more information
and follow us on twitter @Serabi_Gold
Assay Results
Assay results reported within this release include those provided
by the Company's own on-site laboratory facilities at Palito and
have not yet been independently verified. Serabi closely monitors
the performance of its own facility against results from
independent laboratory analysis for quality control purpose. As a
matter of normal practice, the Company sends duplicate samples
derived from a variety of the Company's activities to accredited
laboratory facilities for independent verification. Since mid-2019,
over 10,000 exploration drill core samples have been assayed at
both the Palito laboratory and certified external laboratory, in
most cases the ALS laboratory in Belo Horizonte, Brazil. When
comparing significant assays with grades exceeding 1 g/t gold,
comparison between Palito versus external results record an average
over-estimation by the Palito laboratory of 6.7% over this period.
Based on the results of this work, the Company's management are
satisfied that the Company's own facility shows sufficiently good
correlation with independent laboratory facilities for exploration
drill samples. The Company would expect that in the preparation of
any future independent Reserve/Resource statement undertaken in
compliance with a recognized standard, the independent authors of
such a statement would not use Palito assay results without
sufficient duplicates from an appropriately certificated
laboratory.
Forward-looking statements
Certain statements in this announcement are, or may be deemed to
be, forward looking statements. Forward looking statements are
identified by their use of terms and phrases such as ‘‘believe’’,
‘‘could’’, “should” ‘‘envisage’’, ‘‘estimate’’, ‘‘intend’’,
‘‘may’’, ‘‘plan’’, ‘‘will’’ or the negative of those, variations or
comparable expressions, including references to assumptions. These
forward-looking statements are not based on historical facts but
rather on the Directors’ current expectations and assumptions
regarding the Company’s future growth, results of operations,
performance, future capital and other expenditures (including the
amount, nature and sources of funding thereof), competitive
advantages, business prospects and opportunities. Such forward
looking statements reflect the Directors’ current beliefs and
assumptions and are based on information currently available to the
Directors. Several factors could cause actual results to differ
materially from the results discussed in the forward-looking
statements including risks associated with vulnerability to general
economic and business conditions, competition, environmental and
other regulatory changes, actions by governmental authorities, the
availability of capital markets, reliance on key personnel,
uninsured and underinsured losses and other factors, many of which
are beyond the control of the Company. Although any forward-looking
statements contained in this announcement are based upon what the
Directors believe to be reasonable assumptions, the Company cannot
assure investors that actual results will be consistent with such
forward looking statements.
Qualified Persons Statement
The scientific and technical information contained within this
announcement has been reviewed and approved by Michael Hodgson, a
Director of the Company. Mr Hodgson is an Economic Geologist by
training with over 30 years' experience in the mining industry. He
holds a BSc (Hons) Geology, University of London, a MSc Mining
Geology, University of Leicester and is a Fellow of the Institute
of Materials, Minerals and Mining and a Chartered Engineer of the
Engineering Council of UK, recognizing him as both a Qualified
Person for the purposes of Canadian National Instrument 43-101 and
by the AIM Guidance Note on Mining and Oil & Gas Companies
dated June 2009.
Neither the Toronto Stock Exchange, nor any other securities
regulatory authority, has approved or disapproved of the contents
of this news release
Serabi Gold (LSE:SRB)
Historical Stock Chart
From Jul 2024 to Aug 2024
Serabi Gold (LSE:SRB)
Historical Stock Chart
From Aug 2023 to Aug 2024