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Serabi Gold (TSX:SBI:CA) Thursday said that it had completed the purchase of an ore sorter from Comex Group, to be used for the company’s Coringa gold project, located in north-central Brazil.
The ore sorter is being prepared for shipment, and is expected to arrive into Brazil before the end of 2023.
Once operational, it will lead to a significant increase in gold production rates with both mines feeding high grade sorted ore into the central Palito plant, the company said in a statement.
The company is anticipating that the ore sorter could be operational early in the third quarter of 2024.
- "The immediate cash outlay is about €630,000, and we are forecasting a further €250,000 to €300,000 for the importation costs and shipment from Poland to the Coringa site," Mike Hodgson, CEO of Serabi said.
- Source: Press Release