Serabi Gold H1 Revenue Hits $100.1M on Production Ramp-Up
Serabi Gold posts $30.1M net profit and $44.4M EBITDA, supported by 23,049 ounces produced and a debt-free balance sheet.
Key points
- Serabi Gold generated $100.1 million in H1 2026 revenue with a net profit of $30.1 million.
- EBITDA grew 69% to $44.4 million, supported by 23,049 ounces of gold production.
- The company holds $65.7 million in cash with zero debt, funding Coringa's ramp-up.
Serabi Gold (LSE:SRB) reported first-half 2026 revenue of $100.1 million, driven by increased gold output and higher realized selling prices. The Brazil-focused producer achieved EBITDA of $44.4 million, a 69% year-over-year increase, resulting in a net profit after tax of $30.1 million.
Production rose to 23,049 ounces, with 21,348 ounces sold during the period. According to Yahoo Finance UK, the company ended the half with $65.7 million in cash and no debt, providing ample liquidity for ongoing operations and development projects.
Production Volumes Drive Revenue Growth
Revenue growth was primarily fueled by the higher realized gold price and increased sales volumes from the Palito Gold Complex in Pará state. While specific comparative production figures and exact realized prices were not disclosed in the announcement, the volume increase directly contributed to the top-line expansion.
The company continues to focus on its existing mining districts, combining underground production with development and exploration activities. This operational strategy supports the transition from pure exploration to sustained commercial production.
Cost Pressures From Coringa Ramp-Up
Cash costs increased to $2,010 per ounce, while all-in sustaining costs (AISC) reached $2,682 per ounce. These figures reflect the continuing ramp-up at the Coringa mine and one-off general and administrative expenses associated with the project's advancement.
Operating costs rose as Serabi progressed Coringa's development alongside its existing Palito operations. The increase in costs is a direct consequence of scaling up production infrastructure and managing the complexities of bringing new mining assets online.
Regulatory Extensions Secure Long-Term Operations
Serabi secured a 10-year extension of a regional tax incentive in Brazil, stabilizing its fiscal environment for the next decade. The company is also continuing work on regulatory approvals for the Coringa project, a key component of its future growth strategy.
The debt-free balance sheet and robust cash position allow Serabi to fund these regulatory and operational initiatives without external financing. This financial stability supports the company's ability to manage cost fluctuations during the ramp-up phase.
