The Coringa Gold Operation's classification plant is now operational, marking a significant step towards achieving Serabi Gold's production goals. The company is expecting a strong fourth quarter and plans to invest in exploration to further expand its resource base.
Serabi Gold, a Brazil ian-focused gold mining and development company, announced that the classification plant at its 100% owned Coringa Gold Operation in Pará State, Brazil , is fully commissioned. The plant's operationalization is a key milestone in achieving the company's Phase 1 growth strategy, aiming to increase annual production to 60,000oz by 2026.
The company anticipates its fourth quarter of 2024 to be its best operational quarter since 2020, driven by improved grades at Palito and the operational Coringa plant. Looking ahead, Serabi plans to focus on Phase 2 of its growth strategy, which involves expanding the resource base at both Palito and Coringa to support an annual production profile of over 100,000oz. With an expected year-end cash position exceeding $21.0 million and free cash flow generation, Serabi will be able to fund an extensive brownfield exploration program in 2025, targeting up to 30,000 meters of drilling with a budget of approximately $8 million
Mining Gold Production Exploration Brazil
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Swiss Gold exports reflect weak demand for Gold in AsiaThe Swiss Federal Customs Authority published data on Gold exports in October this week, Commerzbank’s commodity analyst Carsten Fritsch notes.
Read more »
Golden Cariboo Expands Quesnelle Gold Project in Cariboo Gold DistrictGolden Cariboo Resources Ltd. has expanded its Quesnelle Gold Quartz Mine Property by staking 90,989 ha (224,052 acres) of contiguous mineral claims in the northern region of the Cariboo Gold District.
Read more »
Probe Gold Acquires Stella Property with High-Grade Lacoma Gold ZoneProbe Gold Inc. has acquired the Stella Property, strategically located between its Croinor and Megiscane properties in the Val-d’Or East region. The property hosts the high-grade Lacoma gold zone, discovered in 1925, and has potential for further discoveries.
Read more »
Granada Gold Mine Inc. Announces Private Placement and Highlights Granada Gold PropertyGranada Gold Mine Inc. announced a non-brokered private placement of 5.71 million Quebec Flow-Through Shares to raise $200,000. Proceeds will be used for exploration on the Granada Gold Property near Rouyn-Noranda, Quebec. The company provided updates on the property, highlighting its potential and ongoing exploration activities.
Read more »
Southern Cross Gold Makes Significant Gold Discovery at Sunday Creek ProjectSouthern Cross Gold Ltd. has announced a significant gold discovery at its 100%-owned Sunday Creek Gold-Antimony Project, adding to the project's reputation as one of the most significant global gold-antimony discoveries in recent years.
Read more »
Calibre Mining Confirms No Current Discussions with Condor Gold for La India Gold AssetCalibre Mining Corp. has acknowledged past discussions with Condor Gold regarding the potential acquisition of the La India gold asset but currently has no active offer or ongoing discussions. Calibre's focus remains on sustainable growth and responsible operations.
Read more »