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Serabi Gold PLC on Thursday reported a sharply higher interim profit, amid higher gold production on the back of significantly increased gold prices. The Brazil-focused gold miner said pretax profit surged to $22.9 million in the first half of 2025, from $9.9 million a year ago. Revenue climbed 47% to $62.5 million from $42.7 million. Serabi Gold produced 20,545 ounces of gold in the first half of 2025, up 14% from 18,010 oz a year ago. Pertinently, the average gold price received jumped 40% to $3,093 in the first half of 2025 from $2,209 a year ago. Total cost of sales increased 23% to $34.2 million from $27.9 million. Chief Financial Officer Colm Howlin said: ‘While mine development expenditure has increased year-on-year, the investment continues to underpin our growth and expansion plans. All-in sustaining costs for the period were $1,792 per ounce [up 0.6% versus $1,782 a year ago], reflecting both inflationary pressures and the increased development activity. Nevertheless, the company continues to deliver strong margins, underpinned by the high gold price environment and improved production profile.’ Serabi Gold shares rose 2.5% to 202.00 pence each on Thursday afternoon in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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