UK 04:15 Friday, 30 October 2026
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A near-doubling of high-grade gold production to 35,000 oz., combined with expense pruning to cut costs from more than $1,000 (£660) to between $900and $950 an ounce, is on the agenda for 2015 at AIM-quoted Serabi Gold (SNG), which is developing the Palito and Sao Chico gold projects in the remote Tapajos region of Para State in northern Brazil. Chief executive Mike Hodgson says Serabi, which is more than half-owned by Chile’s powerful Fratelli family, produced a disappointing 18,500 oz. last year from its Palito mine because of processing problems, but intends to lift that to 28,000 oz. in 2015, as well as obtaining first production of ‘6,000 to 7,000 oz.’ from Sao Chico, which is targeted to deliver its first commercial output from the middle of the year.
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