Trial mining license at Coringa renewed for a further three years.
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.
“This is extremely welcome news, which our management and legal team have been working on tirelessly over the past months. The agreement reached in
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
Chief Executive m +44 (0)7799 473621
Finance Director m +44 (0)7710 151692
VP Investor Relations & Business Development
e contact@serabigold.com
Nominated Adviser & Financial Adviser
Joint
Ross Allister t +44 (0)20 7418 9000
Joint
CAMARCO
Financial PR -
HARBOR ACCESS
Financial PR –
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
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
Neither the
Source:
2024 GlobeNewswire, Inc., source