Serabi Gold maintained its production guidance in an operational update released on Wednesday, despite a miner fatality halting operations.
The gold mining and development company said January gold production would be 3,671 ounces.
Serabi Gold added that its cash position at end of the month was $12.8 million.
It also said that a Geological Resource update drilling was close to completion at Coringa. The update is set to be published in March and June of this year.
Chief Executive Officer Mike Hodgson commented: “We are delighted to have started the year in much the same way as 2018 ended, with excellent production…”
He added: “At Coringa, we are close to concluding a drill programme, the results from which will be included in the resource update. As reported at the end of January the results to date have been excellent. We remain on schedule to publish an updated geological resource estimate before the end of the first quarter, and will follow this up with the preparation of a PEA, the results of which are expected to be available before the end of June 2019.”
On Tuesday, Serabi Gold issued a statement regarding a miner fatality at its Palito gold mine in Brazil.
As a result, production had been halted in anticipation of the outcome of an investigation by the police and the relevant authorities.
Serabi Gold’s operations are focused in Brazil. Its projects include The Palito Mining Complex and Coringa Gold Project.
Shares in Serabi Gold (LON:SRB) are up +9.59% as of 12:51AM (GMT).
