Serabi Gold (SRB) Q4 2025 TU earnings summary

Executive summary

• Achieved record annual gold production of 44,169 ounces in FY2025, an 18% increase year-over-year, meeting production guidance.

• Q4-2025 gold production reached 11,534 ounces, up 15% from Q4-2024.

• Continued ramp-up of the Coringa Mine and successful operation of the Coringa classification plant.

• Announced inaugural shareholder return policy and advanced Phase I and II of growth strategy.

Financial highlights

• Cash balance at December 31, 2025 was $49.2 million, up from $22.2 million at December 31, 2024.

• Net cash at quarter-end (after loans and lease liabilities) was $42.1 million, compared to $33.0 million at Q3-2025 and $16.2 million at December 31, 2024.

• Received an additional $5.1 million in early January 2026 for December 2025 sales.

Outlook and guidance

• FY2026 consolidated production guidance set at 53,000–57,000 ounces of gold.

• Expectation of further cash growth and another record production year in 2026.

• Additional 30,000m brownfield exploration program planned for 2026.