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LONDON - Serabi Gold plc (AIM:SRB, TSX:SBI, OTCQX:SRBIF) produced 12,090 ounces of gold in the third quarter of 2025, a 27% increase compared to the same period last year, according to a company press release.
The Brazilian-focused gold mining company reported cash holdings of $38.8 million as of September 30, up from $30.4 million at the end of the previous quarter. Net cash after interest-bearing loans and lease liabilities stood at $33.0 million.
Year-to-date gold production reached 32,635 ounces, with the company maintaining its 2025 production guidance of 44,000-47,000 ounces.
The company completed 3,875 meters of horizontal development during the quarter, representing a 17% increase from Q3 2024.
Improved grades contributed to the production increase, with plant feed grades averaging nearly 7.0 g/t Au in the year-to-date period compared to 5.43 g/t Au a year ago.
At Coringa, the ore sorter has been operating for nine consecutive months. The company reported that mining activities at Coringa are focused on two sectors - the Serra and Meio zones - with all activity within 200 meters from surface.
The Palito Complex saw year-to-date 2025 mined grades of 6.21 g/t Au, up from 4.56 g/t Au for the same period in 2024. Production improvements came from stoping the Barrichello zone and improved grades from the G3 vein.
Serabi also reported progress on its 30,000-meter brownfield surface drill program, highlighting the discovery of a new orebody at Coringa and extensions of existing zones at both Coringa and the Palito Complex.
The company’s brownfield exploration program continues with three active drill rigs at the Palito Complex and three at Coringa, as it targets increasing its mineral resource inventory to 1.5-2.0 million ounces of gold.
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