Serabi Gold

Primary tickers: AIM:SRB, TSX:SBI, OTC:SRBIF
Stage of development: Exploration, Development, Production
Primary mineral: Gold
Project to promote: Palito, Coringa
Project location: Brazil
Website: www.serabigold.com

Serabi Gold plc is a gold producer focused on the prolific Tapajos region in Para State, northern Brazil. The Company has produced 30-40koz per year since 2015 from the Palito Complex and is in the process of doubling production through the low cost, low risk development of the Coringa Project. Serabi has excellent exploration potential and has identified a number of highly prospective additional gold exploration targets within its tenements. It also has exposure to copper opportunities having discovered the Matilda Cu-Mo-Au porphyry in 2022 and has since identified additional Cu porphyry targets.

Cash: USD$11.5M
Debt: USD$6.5M

Major shareholders:

Fratelli Investments Limited – 25.5%

Greenstone Resource II LP – 25.2%

River & Mercantile Asset Management LLP -3.2%

Premier Miton Group PLC – 4.7%

Kave Sigaroudinia – 4.2%

Directors – 0.2%

Financials

Management Profile

Mike Hodgson – CEO

A mine geologist with extensive experience in narrow vein underground mining operations. Mike has held senior technical and corporate roles with a number of mining companies including Orvana Minerals, TVX Gold and Rio Tinto

What is your rationale for taking part in 121 Mining Investment?

Serabi is in the process of developing the Coringa Gold Project which will double our annual production by 2026 for very low capex. Coupled with this, we discovered the Matilda Cu-Au-Mo porphyry with the first three drill holes into the target in 2022 which led to an exploration JV with Vale. Drilling and other exploration activity across the tenement package continued in 2023 with further gold and copper targets identified.

What recent news would you like to highlight to investors attending?

31 January 2024 – Trial mining license at Coringa renewed for a further three years
29 January 2024 – 2023 Production Results and Operating Highlights
19 Dec 2023 – Matilda Copper Project – Exploration results confirm project potential
21 November 2023 – Serabi significantly extends mine life at the Palito Complex as new 43-101 is published.
19 October 2023 – Serabi secures award for its Community Engagement
7 September 2023 – Matilda Copper Project exploration update
31 July 2023 – Agreement with indigenous communities- Coringa project
7 June 2023 – Palito brownfield exploration

What are your key goals in 3 months, 6 months, 12 months?

3 Months:

Receive final permits for Coringa, maintain strong production at Palito and Coringa and progress brownfield exploration programmes for both operations.

6 Months:

Complete installation of crushing and ore sorting plant at Coringa by end Q3

12 Months:

Continued ramp up at Coringa and deliver results from brownfield exploration programme with continued growth of mineral resources

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Receiving final permits for Coringa – process is underway and anticipated to be completed within a few months.

What do you think makes your company such a compelling investment?

Low cost, low risk doubling of production from a stable base with exceptional exploration upside.

What are the top 3 key investor takeaways?

1. Producer with stable track record
2. Doubling production in near term
3. Significant exploration upside