Serabi Gold's Q4 2024 Production Results: A Glimpse into Operational Excellence

Serabi Gold plc (SBI) has released its Q4 2024 production results, showcasing a remarkable 13.2% increase in gold production compared to the same period in 2023. This impressive growth is a testament to the company's operational efficiency and strategic initiatives. Let's delve into the key drivers behind this success and explore the impact of the Coringa classification plant commissioning on operational efficiency.



The 10,022 ounces of gold produced in Q4 2024 were driven by several key factors:

1. Improved Mining Methods: The return to selective mining methods in the Chico da Santa zone led to a significant increase in grades, contributing to the higher gold production in the fourth quarter.
2. Increased Production at Coringa: The Coringa mine performed exceptionally well during the quarter, with ore being mined at levels 260m and 225m, and development on levels 225m, 195m, and 165m. The Serra ramp also approached level 130m, contributing to the overall increase in gold production.
3. Commissioning of the Coringa Classification Plant: The commissioning of the Coringa classification plant in December 2024 allowed for the pre-concentration of mined ore at Coringa, which was then trucked to the Palito Complex for further processing. This economic benefit contributed to the higher gold production in the fourth quarter.
4. Higher Grades at Palito: The Palito Complex process plant treated 52,363 tonnes of ROM ore during the quarter, with an average grade of 6.21 g/t of gold, compared with 54,579 tonnes at 5.59 g/t gold in the third quarter of 2024. This increase in grade contributed to the higher gold production in the fourth quarter.

The commissioning of the Coringa classification plant has significantly improved operational efficiency for Serabi Gold plc. The plant allows for the pre-concentration of mined ore at Coringa before it is trucked to the Palito Complex for further processing. This process has yielded formidable results, including:

1. Reduced transportation costs: By pre-concentrating the ore at Coringa, the company reduces the volume of material that needs to be transported to the Palito Complex, leading to significant savings in transportation costs.
2. Improved processing efficiency: The pre-concentrated ore requires less processing time and resources at the Palito Complex, leading to increased efficiency in the overall processing operation.
3. Increased gold recovery: The classification plant helps to improve gold recovery rates by separating the valuable ore from the waste material before transportation. This results in higher gold grades being sent to the Palito Complex for processing, leading to increased gold production.
4. Cash flow benefits: The economic benefits of this option were formally documented in the NI 43-101 compliant PEA Technical Report filed in November 2024. The report highlights the positive impact on cash flow and overall operational efficiency.

In conclusion, Serabi Gold plc's Q4 2024 production results demonstrate the company's operational excellence and commitment to continuous improvement. The commissioning of the Coringa classification plant has further enhanced operational efficiency, leading to increased gold production and improved cash flow. As Serabi continues to execute its strategic plan, investors can expect to see more impressive results in the coming quarters.