By Serabi Gold, a Brazil-focused gold miner, has announced that it is on track to meet its full-year guidance after a successful second quarter in 2023. The company reported a sequential increase in production, with total gold production rising to 8,518 ounces, up from 8,005 ounces in the previous quarter and 8,418 ounces in the second quarter of 2022.
One notable achievement for Serabi Gold was the mined grades, which reached 6.94 grams per metric ton of gold. This is the highest level since the third quarter of 2021, highlighting the company’s commitment to maintaining high-quality standards.
In terms of financials, Serabi Gold saw a significant increase in cash holdings. As of June 30, the company had $13.3 million in cash, compared to $7.2 million at the end of December.
Chief Executive Mike Hodgson expressed his satisfaction with the company’s performance, stating, “An excellent second quarter to follow the first quarter production of 8,005 ounces keeps the company on course to meet its guidance for this year of between 33,500 to 35,000 ounces.”
Serabi Gold remains focused on delivering strong results and meeting its targets for the year ahead. With a solid foundation established in the first half of 2023, the company is poised for continued success in the gold mining industry.
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