Serabi Gold released its Annual Results for 2025 last week. Overall earnings and cash flows have significantly improved year on year (see Fig. 1 below), driven by a stronger gold price (up 45%) and increased production (up 18%). YoY EBITDA is up 117%, PAT up 94% and Free Cash Flow up 114%. The company's cash cost and AISC came in at $1,437/oz and $1,816/oz, respectively, both in line with our forecasts. Additionally, Serabi has also announced a new shareholder return policy, targeting a return o ....
