Unaudited interim results for the three and nine month periods ended 30 September 2023

Article content

Unaudited interim results for the three and nine month periods ended 30 September 2023

Serabi (AIM:SRB, TSX:SBI), the Brazilian focused gold mining and development company, today releases its unaudited results for the three and nine month periods ended 30 September 2023.

Article content

A copy of the full interim statements together with commentary can be accessed on the Company’s website using the following link: https://bit.ly/47wRleY

“This has been another excellent quarter for Serabi as we seek to deliver consistent production and drive growth in the business” said Clive Line, Serabi’s CFO. “Strong quarter on quarter production is supporting improving financials with EBITDA growing to US$8.79 million and continued growth of pre tax profits. Cash balances have grown to US$15.4 million (US$14.7 million net of cash held under the Vale Exploration Alliance) compared to US$7.2 million as at 31 December 2022, with net cash attributable to the Group increasing by US$2.4 million in the third quarter.