Serabi Gold (SRB) Q3 2025 TU earnings summary

Executive summary

• Achieved record quarterly gold production of 12,090 ounces in Q3-2025, a 27% increase year-over-year from Q3-2024.

• Year-to-date Q3-2025 gold production reached 32,635 ounces, tracking well toward annual guidance.

• Operational improvements driven by higher grades at both Palito Complex and Coringa, with plant feed grades rising from 5.43 g/t Au in 2024 to nearly 7.0 g/t Au in 2025.

• Ore sorter at Coringa enabled processing of low-grade stockpiles, boosting output beyond initial plans.

• Brownfield exploration yielded new discoveries and significant extensions at both Palito and Coringa.

Financial highlights

• Cash balance at 30 September 2025 was $38.8 million, up from $30.4 million at 30 June 2025 and $22.2 million at 31 December 2024.

• Net cash at quarter-end (after loans and lease liabilities) was $33.0 million, up from $24.6 million at Q2-2025 and $16.2 million at year-end 2024.

• Fully repaid a $5.0 million unsecured loan in January 2025 and secured a new $5.0 million loan at a lower interest rate.

Outlook and guidance

• On track to achieve 2025 consolidated production guidance of 44,000–47,000 ounces of gold.

• Anticipates further operational success in Q4-2025, supported by strong grades and robust cash position.

• Brownfield exploration aims to increase mineral resource inventory to 1.5–2.0Moz Au.