Serabi Gold


Primary ticker: AIM:SRB, TSX:SBI
Stage of development: Development, Production
Primary minerals: Gold
Project to promote: Palito
Project location: Brazil
Corporate presentation: Click here

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 having discovered the Matilda Cu-Mo-Au porphyry in 2022.  
Cash: USD$10.2M

Debt: USD$7.1M


Major shareholders:

Fratelli Investments Limited – 25.5%
Greenstone Resource II LP – 25.2%
River & Mercantile Asset Management LLP – 6.8%
Premier Miton Group PLC – 4.8%

Directors – 1.7%

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 and TVX Gold.

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 so have follow up work on that and other similar targets to test.

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

22 March 2023 – Coringa Project update
17 January 2023 – 2022 production guidance exceeded

5 July 2022 – Drilling confirms new Porphyry discovery at Matilda

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 initiate regional exploration programme

6 Months:

Ramp up production at Coringa and deliver initial regional exploration results including at the Matilda prospect

12 Months:

Continued ramp up at Coringa, deliver 2023 production guidance and deliver results from Matilda and other regional exploration targets

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 further 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