(Alliance News) - Serabi Gold PLC on Wednesday hailed a "robust first quarter" with significant improvements in production, providing "an exciting platform for the year ahead". The Brazilian-focused gold mining and development company said that gold production totalled 8,005 ounces for the first quarter of 2023, representing a 13% improvement on the same period in 2022. Serabi's gold production comprised 5,776 ounces from its 100% owned Palito mining complex, and 2,229 ounces from its recently acquired Coringa gold project. Chief Executive Officer Mike Hodgson described the production increase as "a very satisfying result", adding that "the strong end to the period has carried over onto the start of the second quarter." During the recent quarter, the group secured a loan of USD5.0 million from Santander Bank in Brazil, repayable in February 2024.

Source: The Guardian April 19, 2023 10:57 UTC