Serabi Gold Boosts Production 20% in Q1 2026, Eliminates Debt
Event summary
- Serabi Gold produced 12,042 ounces of gold in Q1 2026, a 20% increase from Q1 2025.
- Cash position grew to $64.4 million, up from $49.2 million, with full repayment of $5.3 million debt to Itaú Bank.
- Installation of a 4th ball mill at Palito Complex to increase annual processing throughput to 330ktpa in 2027.
- Transition from selective open stoping to mechanized sublevel stoping at Coringa, expected to complete by Q3 2026.
- Assessment underway to restart São Chico operations, previously suspended in 2023 due to economics.
The big picture
Serabi Gold's strategic investments in plant capacity and mechanization aim to address production constraints amid record gold prices. The company's debt-free status and strong cash position provide flexibility for future growth, but regulatory hurdles and safety concerns remain critical factors. The potential restart of São Chico operations could further enhance production capabilities, pending economic viability.
What we're watching
- Production Growth
- Whether Serabi Gold can sustain the 20% production increase through the rest of 2026.
- Regulatory Approvals
- The pace at which Coringa receives full mining license approvals from ANM, INCRA, and FUNAI.
- Safety Initiatives
- How the additional health and safety personnel and external audit will impact safety performance.
Related topics