Serabi Gold (SRB) Q1 2026 earnings summary

Executive summary

• Gold production rose 20% year-over-year to 12,043 ounces, with sales of 10,323 ounces, up 6% from Q1 2025.

• Gross profit more than doubled to $30.1 million from $12.6 million year-over-year, driven by higher gold prices and increased production.

• Average gold sales price surged 69% to $4,926 per ounce compared to $2,908 in Q1 2025.

• The Coringa mine contributed significantly to increased output, producing 7,450 ounces in Q1 2026.

Financial highlights

• Revenue increased to $50.6 million from $27.6 million year-over-year.

• Net profit after tax rose to $20.99 million from $8.77 million year-over-year.

• Basic and diluted EPS were 27.72c, up from 11.58c year-over-year.

• Cash and cash equivalents increased to $64.4 million from $49.2 million at year-end 2025.

• Operating cash flow was $27.2 million, up from $10.2 million year-over-year.

Outlook and guidance

• Management expects continued gold production growth in 2026, with increased output from both Palito Complex and Coringa mine.

• Directors will limit discretionary expenditures as needed to manage liquidity and maintain operational flexibility.