Unaudited interim results for the three and nine-month periods ended 30 September 2025
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The November 28, 2025 news release provides unaudited interim results for the three and nine-month periods ending September 30, 2025. For the nine-month period, the company reports gold production of 32,634 ounces, a 19% increase year-over-year. This was driven by a record third quarter production of 12,090 ounces.
Financially, the strong operational performance combined with a high average realized gold price of US$3,244/oz resulted in a 95% year-on-year increase in EBITDA to US$48.2 million. The company's cash position grew significantly to US$38.8 million, up from US$22.2 million at the end of 2024, with a net cash position of US$33.1 million.
All-In Sustaining Costs (AISC) for the nine-month period were US$1,816 per ounce. The company confirmed it is on track to meet its full-year 2025 production guidance. Operationally, the ore sorter at the Coringa project continues to perform exceptionally.
This news is materially positive. It confirms the exceptional operational results pre-announced on October 14, 2025, and adds a layer of impressive financial performance. The key takeaways are the substantial increases in EBITDA and cash generation, which solidify the company's financial health and its ability to self-fund its ambitious growth plans.
Looking at the progression of news releases throughout 2025, Serabi has consistently delivered on its operational targets. - Q1 2025 (Apr 14): 10,013 oz produced, cash at $26.5M. - Q2 2025 (Jul 14): 10,532 oz produced, cash at $30.4M. - Q3 2025 (Oct 14/Nov 28): 12,090 oz produced, cash at $38.8M.
This demonstrates accelerating momentum. The latest financial results exceed expectations based on the prior year's performance, with nine-month EBITDA ($48.2M) and profit ($34.9M) showing dramatic growth. This performance is a direct result of increased production, improved grades, and crucially, a very high realized gold price ($3,244/oz). While the operational improvements are commendable, the sustainability of such a high gold price is a key factor for future profitability.
The market had already reacted to the record production figures announced in October, which saw the stock price peak. This full financial report validates the operational success and shows the company is converting ounces into significant free cash flow. This de-risks the company's growth strategy by removing the need for near-term equity financing. The AISC of $1,816/oz is high but provides for very healthy margins at the reported realized gold price. The results confirm the company is firmly on track to meet or exceed its 2025 guidance of 44,000 – 47,000 ounces.
Serabi Gold plc is a gold mining company focused on the evaluation, development, and operation of gold deposits in Brazil. Its operations are concentrated in the highly prospective Tapajós region of Pará State.
The company's flagship assets are the producing Palito Mining Complex and the nearby Coringa project, which is in the advanced development and early production stage. The core strategy involves using the existing processing infrastructure at Palito to process ore from Coringa, which is pre-concentrated on-site at Coringa using a recently commissioned ore sorter. This phased approach aims to grow production to ~60,000 oz/year by 2026, before a potential further expansion to over 100,000 oz/year, which is contingent on significant resource growth from its aggressive brownfield exploration programs. All properties are 100% owned and appear to be royalty-free based on the information provided.