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Serabi Gold PLC on Monday reiterated its production guidance for the current year, and updated on progress at its Palito Complex and Coringa Mine projects. The Brazil-focused mining company’s operational highlights included the installation of a fourth ball mill at Palito Complex, in order to increase annual processing throughput to 330,000 tonnes per annum. Additionally, it said it is transitioning from selective open stoping to longhole open stoping at Coringa, after a year of ‘ore sorting success’ and due to Coringa’s veins being ‘favourable for mechanized mining’. Serabi also said it has completed its 2025 brownfield exploration programme, totalling 38,400 metres of which 17,600 metres were at Palito and 20,800 metres were at Coringa. 154 diamond drill holes were completed, with 1,436 metres remaining to be assayed. Serabi said 65 of the holes returned grades over three grams per tonne of gold. Looking to 2026, Serabi said its consolidated production guidance is still 53,000 to 57,000 ounces of gold. ‘With ore sorting ongoing at both sites, the operation remains plant constrained,’ commented Chief Executive Mike Hodgson. ‘With gold prices at record highs and viable stockpiles on hand, plant capacity constraints have become more pressing than ever.’ He continued: ‘We will also be reevaluating our Sao Chico Mine [at the Palito Complex] which the record gold price environment and increased plant capacity justifies...Times have changed, and today Sao Chico ore, even without ore sorting is viable...With ore sorting over the past 3 years, Serabi has focused on maximising gold production from the infrastructure it has. ‘After 12 months of highly successful ore sorting at Coringa and demonstrating the value of the two mines, one plant strategy, which has come at a time of record gold prices, plant expansion will now greatly benefit the company. It will be entirely funded from cashflow for a very modest sum.’ Shares in Serabi were 2.6% higher at 350.00 pence on Monday afternoon in London. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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