(Alliance News) - Serabi Gold PLC on Wednesday hailed a "robust first quarter" with significant improvements in production, providing "an exciting platform for the year ahead". The Brazilian-focused gold mining and development company said that gold production totalled 8,005 ounces for the first quarter of 2023, representing a 13% improvement on the same period in 2022. Serabi's gold production comprised 5,776 ounces from its 100% owned Palito mining complex, and 2,229 ounces from its recently acquired Coringa gold project. "It is an exciting time for [Serabi] and this solid start to 2023 provides an excellent platform for the year ahead," Hodgson commented. Serabi said it had a cash balance of USD13.9 million at the end of March, a 93% increase from USD7.2 million at the end of December 2022.

Source: The Guardian April 19, 2023 11:07 UTC