28th Nov 2025 10:50
(Alliance News) - Serabi Gold PLC on Friday reported profit growth as it ramped up gold production and sales in the third quarter.
The Brazil-focused gold mining firm said pretax profit for the three months ended September 30 rose 78% to USD19.2 million from USD10.8 million a year ago, driven by a revenue jump.
Revenue rose 52% to USD42.0 million from USD27.6 million. For Brazil, revenue rose 37% to USD29.1 million from USD21.2 million. UK revenue doubled to USD12.9 million from USD6.4 million.
Comprising the biggest proportion of the company's revenue, gold output for the nine months to September 30 rose 19% to 32,634 ounces from 27,499 ounces in the same period a year ago. Ounces sold increased 11% to 32,106 from 28,912.
Serabi Gold produced 17,115 ounces of gold bullion at the Coringa mine, up 18% from 14,464 ounces a year ago.
This was supplemented by production of a further 6,749 ounces of gold in the form of bullion and 8,770 ounces in the form of copper concentrate from the Palito ore body.
Shares in Serabi Gold rose 3.8% to 275.10 pence on Friday morning in London.
By Roya Shahidi, Alliance News reporter
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