LONDON, April 30, 2024 (GLOBE NEWSWIRE) -- Serabi Gold plc (AIM:SRB, TSX:SBI, OTCQX:SRBIF), the Brazilian-focused on gold mining and development today announced that Mike Hodgson, Chief Executive Officer, will present live at the Metals & Mining Virtual Investor Conference hosted by VirtualInvestorConferences.com, on May 2nd
DATE: May 2nd
TIME: 9.30amET
LINK: https://bit.ly/3ISIVUN
Available for 1x1 meetings: May 2
This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.
It is recommended that online investors pre-register and run the online system check to expedite participation and receive event updates.
Learn more about the event at www.virtualinvestorconferences.com.
Recent Company Highlights
- Revenue of US$63.7 million (2022: US$58.7 million) reflecting higher production year on year as well as positive movement in the average gold price of achieved, (2023: US$1,945; 2022: US$1,785).
- Gold production for the full year of 2023 of 33,153 ounces (2022: 31,819 ounces).
- EBITDA for the year of US$13.78 million (2022: US$8.78 million), a 57% improvement year on year.
- Post tax profit for the year of US$6.58 million, (2022: Post tax loss of US$1.0 million).
- Cash held at 31 December 2022 of US$11.6 million (31 December 2022: US$7.2 million).
- Profit per share of 8.68 cents compared with a loss per share of 1.30 cents for the 2022 calendar year.
- Net cash inflow from operations for the year of US$7.7 million (after mine development expenditure of US$4.4 million); (2022 net cash outflow from operations of US$1.7 after accounting for mine development of US$3.6 million).
- Cash Costs for the full year of US$1,300 per ounce (2022: US$1,322) and AISC for the full year of US$1,635 per ounce (2022: US$1,615).
- Robust first quarter of 2024 with 9,007 ounces of gold production. Production guidance of between 38,000 and 40,000 ounces of gold for the 2024 calendar year.
About Serabi Gold plc
Serabi Gold plc is a gold exploration and production company involved in the evaluation and development of gold deposits in Brazil. The company's primary interests are its 100% owned Palito Mining Complex and the Coringa Gold Project, both located in the Tapajos region of northern Brazil. The Company has been producing gold continuously since 2013 and planned production of 38,000-40,000 ounces for 2024 is projected to be expanded to an annual rate of over 60,000 ounces over the coming two years. The Tapajos region, which encompasses an area of about 100,000 square kilometres (350 km by 300 km) in southwest Para State, Brazil, is located approximately 1,300 km southwest from the state capital, Belem. Artisanal miners ("garimpeiros") are understood to have extracted up to 30 million ounces of gold there since the 1970s, mostly from alluvial and surface weathered bedrock deposits representing generally only the top 20 to 30 metres. It is reported to be the world's third largest alluvial gold field and the Company believes that the region, with significant mineral potential below the artisanal operation, is a major, under-explored mineral province.
About Virtual Investor Conferences®
Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.
Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.
CONTACTS:
Harbor Access
Jonathan Paterson
Investor Relations
+1 475 477 9401
Jonathan.Paterson@Harbor-Access.com
Virtual Investor Conferences
John M. Viglotti
SVP Corporate Services, Investor Access
OTC Markets Group
(212) 220-2221
johnv@otcmarkets.com
