DJ Serabi Says Probe Hasn't Found Further Cash Withdrawals From Brazilian Subsidiary
By Jaime Llinares Taboada
Serabi Gold PLC said Friday that no further instances of irregular cash withdrawals have been identified from its Brazilian subsidiary Serabi Mineracao SA.
The gold mining company this year found that $340,000 of cash had been withdrawn from SMSA between January 2015 and December 2020. A further review by Deloitte hasn't identified any further instances of irregular cash withdrawals or other material transactions of an unusual nature, it said.
Serabi confirmed that all the identified cash withdrawals were recorded through the accounts of SMSA and expensed in the period in which they were incurred.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT
(END) Dow Jones Newswires
August 27, 2021 02:37 ET (06:37 GMT)
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