{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Company Interviews","title":"Serabi Gold (LSE:SRB) - 38,000 oz Gold Production by Year End with Expansion Upside","html":"","width":"100%","height":180,"duration":1268,"description":"Interview with Michael Hodgson, CEO of Serabi Gold PLCOur previous interview: https://www.cruxinvestor.com/posts/serabi-gold-lsesrb-doubling-production-by-2026-6040Recording date: 16th December 2024Serabi Gold (LSE:SRB), a Brazil-focused gold producer, is positioned for significant growth in the coming years as it executes on its three-stage strategy to optimize operations and expand production at its high-grade Palito and Coringa mines.In 2024, Serabi achieved several key milestones, putting it on track to meet its production guidance of 38,000 ounces, a 67% increase from the previous year. The successful commissioning of an ore sorting plant at the Coringa mine in December was a game-changer, enabling the company to upgrade the feed grade to its processing plant from around 5  to 15 grams per tonne. This will allow Serabi to boost gold production without having to expand its milling capacity.CEO Mike Hodgson outlined the company's three-stage growth plan: Stage one, now complete, was the construction of the ore sorters. Stage two is increasing production from 40,000 to 60,000 ounces per year over the next 18 months as the benefits of ore sorting are realized. Stage three involves an aggressive exploration program aimed at doubling resources from 1 to 2 million ounces to support a further expansion to 100,000 ounces per year.To fund this growth, Serabi is budgeting $8 million for brownfields exploration in 2025, a significant increase from recent years. The 30,000 meter drill program will focus on growing resources around the Palito and Coringa mines, which currently host 500,000 ounces each. If successful in doubling the resource base, Serabi would look to expand processing capacity either by building a second plant at Coringa or expanding the existing Palito plant.Serabi is well-funded to carry out its plans, with $20-25 million in cash expected by year-end 2024. This strong balance sheet provides flexibility to advance organic growth initiatives while also...","thumbnail_url":"https://img.transistorcdn.com/1wv-MFlQAgnm-ca64e5kK4984dZB0os8-HJdRVsI74M/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9zaG93/LzEzNTcyLzE2MjM5/NTQyMDctYXJ0d29y/ay5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}