Serabi Gold produced 11,007 ounces of gold in the second quarter of 2026, a 5% increase from the same period last year, and ended the quarter with a cash balance of $65.7 million while remaining debt free after repaying a $5.3 million loan to Banco Santander earlier in the year. The company is advancing the installation of a fourth ball mill at the Palito Complex, which remains on time and on budget for completion by the fourth quarter of 2026 and is expected to raise annual processing throughput to 330,000 tonnes per annum in 2027. At the Coringa Mine, the transition from selective open stoping to mechanised sublevel stoping is on track for the fourth quarter of 2026, and discussions continue with regulators regarding the extension of the current GUIA licence and the award of the full mining licence, which the company assumes will be granted by the fourth quarter of 2026. Based on that assumption, Serabi maintains its full-year 2026 consolidated production guidance of more than 53,000 ounces of gold, which would be a record. First-half production totalled 23,049 ounces, with Coringa contributing 14,988 ounces and the Palito Complex contributing 8,061 ounces.
Serabi Gold PLCReports increased production, debt-free status, strong cash balance, and on-track expansion projects.
Banco Santander S.A.