Miscellaneous
Fatality at Palito Mine
Serabi Gold plc (“Serabi” or the
“Company”) (AIM: SRB, TSX: SBI, OTCQX : SRBIF), the
Brazilian focused gold mining and development company, regrets to
announce the passing of one of it’s employees late in the day on 12
August 2024 in Itaituba Hospital, Para State, Brazil. The
individual was injured in a mining related accident on 31 July 2024
whilst working underground at a production face at the Palito Mine.
The employee was immediately evacuated by air to receive medical
treatment but has regrettably succumbed to his injuries. No other
personnel were injured in the incident.
The Company has notified the relevant
authorities, including the police, and are providing all necessary
assistance for the enquiries into this incident. The involvement of
the Brazilian authorities means that investigations into the
circumstances of the accident remain ongoing, but management’s
enquiries to date indicate that all operating procedures had and
were being correctly followed at the time of the accident. Whilst
satisfied that existing procedures ensure the safest possible
environment, nonetheless management will, in light of this
incident, consider whether there are any further learnings to be
made Production in the area of the incident is expected
to be resumed within a few days once the authorities have completed
their own enquiries, but mining operations are otherwise
unaffected
Until such a time as the outcome of the
enquiries has been reached, no further details can be released. The
Directors and management of Serabi express their sincere
condolences to the family and colleagues of the deceased and the
Company is providing all necessary support to the family. The
Company is also providing appropriate counselling to those staff
affected by the accident.
Mike Hodgson, Chief Executive Officer, said:
“It is with great sadness that we announce the passing of one
of our employees, who was unfortunately unable to recover from
injuries sustained in an accident that occurred two weeks ago. I
join with all of my colleagues and fellow Directors in expressing
our sincere condolences to the family and friends of the
deceased."
The information contained within this
announcement is deemed by the Company to constitute inside
information as stipulated under the Market Abuse Regulations (EU)
No. 596/2014 as it forms part of UK Domestic Law by virtue of the
European Union (Withdrawal) Act 2018.
The person who arranged for the release of
this announcement on behalf of the Company was Clive Line,
Director.
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
Vice President, Investor Relations &
Business Development
e
contact@serabigold.com
www.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 Patterson / Lisa
Micali t
+1 475 477 9404
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.
Notice
Beaumont Cornish Limited, which is authorised and regulated in the
United Kingdom by the Financial Conduct Authority, is acting as
nominated adviser to the Company in relation to the matters
referred herein. Beaumont Cornish Limited is acting exclusively for
the Company and for no one else in relation to the matters
described in this announcement and is not advising any other person
and accordingly will not be responsible to anyone other than the
Company for providing the protections afforded to clients of
Beaumont Cornish Limited, or for providing advice in relation to
the contents of this announcement or any matter referred to in
it.
Neither the Toronto Stock Exchange, nor any other securities
regulatory authority, has approved or disapproved of the contents
of this news release
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