Serabi Gold (SRB) Q3 2025 earnings summary

Executive summary

• Gold production for the first nine months of 2025 reached 32,634 ounces, up 19% year-over-year, with sales of 32,106 ounces, a rise of 11% compared to the same period in 2024.

• Gross profit for the nine months ended 30 September 2025 was $49.9 million, up from $27.2 million year-over-year, driven by higher gold prices and increased production at the Coringa mine.

• Revenue for the nine-month period was $104.5 million, a 49% increase from $70.3 million in 2024, with an average gold price achieved of $3,244 per ounce, up 39%.

• Net profit for the nine months was $34.9 million, compared to $17.8 million in the prior year period.

Financial highlights

• Revenue for Q3 2025 was $42.0 million, up from $27.6 million in Q3 2024; nine-month revenue was $104.5 million, up from $70.3 million.

• Gross profit for Q3 2025 was $21.6 million, up from $12.4 million in Q3 2024.

• Net profit for Q3 2025 was $16.0 million, up from $8.6 million in Q3 2024.

• Basic and diluted EPS for the nine months was 46.10c, up from 23.55c year-over-year.

• Cash and cash equivalents at 30 September 2025 were $38.8 million, up from $22.2 million at 31 December 2024.

Outlook and guidance

• Management expects continued gold production growth at both Palito Complex and Coringa mine, with 2025 production anticipated to exceed 2024 levels.

• Directors will manage discretionary expenditures to maintain liquidity and have a reasonable expectation of operational continuity.