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Highlights

  • Serabi Gold’s EBITDA surged 181.5% YoY to USD 24.72 million in 9M FY24, driven by a 47% YoY revenue increase
  • Q1 2025 gold production of SRB rose 11% YoY to 10,013 ounces, led by higher feed grades at Palito and Coringa
  • The company remains on track to achieve FY25 production guidance of 44,000–47,000 ounces

Serabi Gold PLC (LSE:SRB) is a mining company that specialises in the exploration and production of gold, with operations based in Brazil. It fully owns the Palito Mining Complex and has significant interests in the Coringa Gold Project, situated in the Tapajos region of northern Brazil.

In the first nine months of the financial year 2024 (FY24), Serabi Gold reported a significant improvement in financial performance, with EBITDA rising by 181.5% YoY to USD 24.72 million, primarily driven by a 47% increase in revenue to USD 70.3 million. This growth was supported by higher gold sales volumes and an improved average gold price of USD 2,338/oz compared to USD 1,940/oz in the same period last year.

Profit after tax also surged by 285.9% YoY to USD 17.83 million, boosted by cash generation and inventory realisation of approximately USD 3.0 million.

In addition, the company achieved a higher EBITDA margin and lower debt/equity ratio in Q3FY24 compared to the industry median.

2025 Starts with Double-Digit Gold Output Growth

In Q1 2025, Serabi Gold’s gold production increased by 11% YoY to 10,013 ounces. This growth was driven by higher feed grades at both the Palito (6.25 g/t) and Coringa (7.17 g/t) sites.

Financially, the company saw its cash position improve to USD 26.5 million as of 31 March 2025, up from USD 22.2 million at the end of December 2024. Net cash rose to USD 21.1 million, supported by solid operating cash flows and a refinancing initiative that reduced interest costs.

Company Outlook

Serabi Gold stated that it is on track to meet its FY25 production guidance of 44,000–47,000 ounces, driven by Q1 performance, continued development at the Meio zone, and a cash position of USD 26.5 million.

Top 10 Shareholders

The ownership of Serabi Gold is concentrated among a few major shareholders, with the top 10 shareholders collectively controlling approximately 45.07% of the total shares. The largest shareholder is Starboard Asset Ltd, which holds about 20% of the company's shares, followed by Fratelli Investments, Ltd., with a shareholding of around 9.99%.

Stock Information

Serabi Gold's stock has experienced notable growth, increasing by approximately 11.94% over the last three months. The stock has a 52-week low of GBX 53.25 and a high of GBX 186.00. Currently, the share price is trading above the average of its 52-week high and low, with a closing price of GBX 150.00 as of 28 April 2025.

Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 28 April 2025. The reference data in this report has been partly sourced from EODHD/Others.

 Technical Indicators Defined

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.