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LONDON - Serabi Gold plc (AIM:SRB, TSX:SBI, OTCQX:SRBIF), a Brazilian-focused gold mining company, reported gold production of 20,545 ounces for the first half of 2025, a 14% increase compared to the same period in 2024.
The company’s financial results showed a significant improvement, with EBITDA more than doubling to $26.3 million from $13.0 million in the first half of 2024. Post-tax profit reached $18.9 million, up from $9.2 million in the comparable period, resulting in earnings per share of 24.99 cents compared to 12.18 cents a year earlier.
Cash holdings increased to $30.4 million as of June 30, 2025, up from $22.2 million at the end of 2024. Net cash inflow from operations after mine development expenditure was $19.2 million, compared to $6.6 million in the first half of 2024.
The company benefited from higher gold prices, with an average realized price of $3,093 per ounce during the period, compared to $2,209 per ounce in the first half of 2024.
Production costs remained relatively stable, with cash costs of $1,379 per ounce (down from $1,401 in H1 2024) and all-in sustaining costs of $1,792 per ounce (slightly up from $1,782).
The ore sorter at Serabi’s Coringa mine has been operational for six months and has performed well, processing low-grade ore that had been stockpiled since operations began, while higher-grade material continues to be transported to the Palito Complex plant.
In January 2025, Serabi secured a $5.0 million unsecured loan arrangement with Brazilian bank Santander, carrying a fixed interest rate of 6.16%, repayable in January 2026. This followed the repayment of a previous $5.0 million loan from Itau bank.
The company is currently conducting a 30,000-meter drill program across both the Palito Complex and Coringa sites to support future resource growth.
These results were reported in a press release statement issued by the company.
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