-- Serabi Gold plc (AIM: SRB, TSX: SBI), the Brazilian focused gold mining and development company, was at last look up 4% in early afternoon UK trade after announcing production results and operating highlights for Q1 2026
Among operational highlights, Serabi cited quarterly gold production of 12,042 ounces, a 20% increase from Q1-2025. It had cash as of March 31, 2026 of US$64.4 million vs $49.2 million as of December 31, 2025. The company said it was now debt free; repaid $5.3 million during the quarter.
In other highlights, Serabi also commenced installation of a 4th ball mill at Palito Complex, expected to be operational by Q4-2026 and will increase annual processing throughput to 330ktpa in 2027. Following 12 months of ore sorting success, the company is transitioning from selective open stoping to mechanised sublevel stoping at Coringa, which currently operates under a 3-year GUIA license which expires on January 29, 2027.
Mike Hodgson, CEO of Serabi, said: "Both mines have performed well. The ore sorter was instrumental in achieving our record annual production in 2025, and this along with favourable geological continuity of the Coringa veins has allowed us to transition from selective open stoping to the more mechanized sublevel open stoping method, providing many benefits to cost, output and safety. Mechanization of Coringa should be complete by Q3 2026. "
Shares in Serabi were up 3.8% in Canada yesterday.