March 26, 2020 / 8:41 AM / 2 months ago

BRIEF-Serabi Gold Sees Inability To Achieve Production Levels Over Coming Few Months Over Whar Originally Anticipated

March 26 (Reuters) - Serabi Gold PLC:

* DUE TO VIRUS, TO EXTEND PERIOD FOR SATISFACTION OF CONDITIONS FOR SUBSCRIPTION FOR, ISSUE TO GREENSTONE OF $12MLN CONVERTIBLE LOAN NOTES

* SUSPENDING ITS 2020 PRODUCTION GUIDANCE UNTIL IT IS IN A BETTER POSITION TO QUANTIFY IMPACT

* GOLD PRODUCTION FOR FIRST THREE MONTHS OF 2020 IS EXPECTED TO BE APPROXIMATELY 8,500 TO 9,000 OUNCES

* CASH POSITION OF COMPANY AT END OF MARCH WILL BE VERY SIMILAR TO COMPANY’S INTERNAL FORECASTS

* ANTICIPATING CO WILL NOT BE ABLE TO ACHIEVE PRODUCTION LEVELS OVER COMING FEW MONTHS THAT MANAGEMENT HAD ORIGINALLY ANTICIPATED

* ANTICIPATES THAT OPERATIONS, WHILE CONTINUING, MAY HAVE TO BE UNDERTAKEN BY A LOWER THAN NORMAL NUMBER OF PERSONNEL Source text for Eikon: Further company coverage:

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