serabi mining plc 
annual report and accounts 2005
serabi mining plc annual report and accounts 2005
serabi mining plc
cleary court 2123 st swithins lane
london ec4n 8ad
tel 44 020 7220 9550
fax 44 020 7220 9555
email contactserabiminingcom
web wwwserabiminingcom serabi mining plc is a gold mining and exploration
company currently focused on the tapajos geological
province of northern brazil the tapajos region is a
major underexplored mineral province from which
artisanal miners “garimpeiros” are thought to have
extracted some 30 million ounces of gold mostly from
alluvial and weathered bedrock deposits since the 
early 1970’s the company has established the first
significant hardrock mining operation in the region at
the 100 owned palito gold mine in addition serabi
has amassed a sizeable land position in the tapajos
where advanced exploration and drilling is currently
underway serabi’s goal is to become a lowcost longlife
multimine producer using the experience at palito as
the guide for further mining developments 
t he d esign p ortfolio
a member of the flathill communications group plc
wwwflathillplccom
designed  produced by


Summary:
 serabi mining plc annual report and accounts 2005 2
chairman’s statement 
2005 was a year of significant accomplishment for
serabi as the company made tangible progress towards
its goal of becoming a midtier gold producer serabi’s
admission to london’s aim market on 10 may 2005
was the culmination of more than five years of private
development by the company’s founders institutional
and private investors and employees the benefits of
becoming a public company combined with growing
cash flow from the palito mine now provide a strong
foundation for continued success 
operationally 2005 was characterised as a year of
continuous improvement at the palito mine and
preparation for the start of regional project evaluation
as an operation still under development production
at palito showed significant improvements over the
year resulting in output of 17261 ounces of gold
equivalent building on last year’s success and with
preparations for the coming year i expect the full
potential of serabi will become more evident during
2006 with the following goals