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Serabi Gold PLC on Thursday posted an annual production increase, and shared an optimistic outlook on the strength of ‘unprecedented’ gold prices. The London-based, Brazil-focused mining firm said gold production in the fourth quarter reached 11,534 ounces, up 13% on-year from 10,022 ounces. For the full year, gold production was 44,169 ounces in 2025, up by about 18% from 37,520 ounces the year prior. The average grade of milled ore was 6.80 grams of gold per ton, compared to 5.61g/t the previous year, and for mined ore, average grade improved to 6.65 g/t from 5.49 g/t. The firm’s Palito complex contributed 20,158 ounces to the annual total, up from 17,404 ounces in 2024, while production at the Coringa mine rose to 24,010 ounces from 20,117 ounces. Serabi praised 2025’s ‘record’ result, and set the target range for 2026 production between 53,000 and 57,000 ounces. It held $42.1 million net cash at the end of December, compared with $16.2 million on-year. ‘Our cash position continues to grow, driven by unprecedented gold prices and the strong operational performance of our mines,’ commented Chief Executive Mike Hodgson. ‘We also expect further growth in our cash balance in 2026 and remain well financed to execute our growth plans for the year at Coringa, our 2026 brownfield exploration programme and to deliver on our shareholder return policy,’ Hodgson continued. ‘The ramp up of the Coringa mine continues as we are progressing well with our portal at our third zone, the Galena zone, which is expected to contribute significant development ore during 2026.’ Serabi shares were 1.2% lower at 340.97 pence on Thursday morning in London. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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