Serabi Gold plc Announces Production Results for the Fourth Quarter and Full Year 2018; Provides Production Guidance for the Year 2019
For the full year the company announced horizontal development of 10,371 meters compared with 9,864 meters a year ago. Mined ore of 162,722 tonnes compared with 168,876 tonnes a year ago. Milled ore was 168,253 tonnes compared with 172,565 tonnes a year ago. Gold production was 37,108 tonnes compared with 37,004 tonnes a year ago.
Management does not anticipate a major shift in mine performance and therefore hard rock gold production for 2019. However, with production efficiencies from new initiatives such as the scrubber to improve throughput of stockpiled flotation tails and the planned commissioning of the ore-sorter in the second half of 2019, management expects to see an increase in gold production in 2019, with production forecast to be in the range of 40,000-44,000 ounces.