Project 12 statements
The deposit 8
Key takeaway. Management described Serabi Gold's deposit in terms of current resource size and exploration upside, with figures shifting across two interviews in 2026.
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In May, the company reported 800,000 ounces at Karinga, a total resource inventory of 1 million to 1.4 million ounces for 2025, and noted that 55,000 or 53 ounces is the lower end of that year's guidance, alongside a separate figure of 44,000 ounces. On the exploration side, management said Karinga alone could host a 1.5 million-ounce deposit, with a possible total of close to 1.8 or 2 million ounces, citing an 8-km strike length of which only 1.5 km has been drilled and a 20-km anomaly that remains undrilled. In a February 2026 interview, the company had previously stated a 1-million-ounce resource inventory total, moving toward about 1.5, maybe up to 2 million ounces.
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Jurisdiction 3
Key takeaway. On jurisdiction and permitting at its Coringa project, Serabi Gold management reports progress on two fronts.
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In February 2026, they stated the land-use agreement with INCRA is nearly complete and a mining license extension is in progress, while they continue working on an agreement with indigenous communities. A subsequent May 2026 update indicates the company has now signed an ECI (Environmental Compliance Instrument) with unanimous approval from those same indigenous groups.
Technical risk 1
Economics 16 statements
Economics 9
Key takeaway. Serabi Gold's management provided several economic figures during a May 2026 interview.
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They assume a gold price of $3,451, with all-in sustaining costs of $1,816 for the year and in the "2,000s" in 2026, and an operating margin of $2,000. Capital expenditure includes $50 million on exploration, while a fourth ball mill and plant expansion are funded from cash flow, as noted in February 2026. Management also said in February 2026 that costs are "pretty flat" year-on-year, though labor — 45% of costs — sees 7-8% annual increases under collective agreements.
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Financing 7
Key takeaway. In a February 2026 interview, Serabi Gold's management stated the company started 2025 with about $20 million in cash, ended the year with $54 million, and paid off about $7 million in debt in January 2026.
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By May 2026, management reported being debt-free with a cash position of $50 million in the bank, though they also noted a cash position of $65 million by the end of Q1 in that same month. The company has a 20% of cash flow dividend policy, and management said they spent $12 million on drilling in 2025 and are planning the same for 2026.
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Timeline 13 statements
Timeline 13
Key takeaway. Management's timeline spans near-term production targets, resource updates, and longer-term expansion.
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For 2025 the company targets 44,000 ounces, followed by 54,000 to 57,000 ounces in 2026. In February 2026 management said it expects resource updates at Pito and Karinga in March 2026 targeting about 1.3 million ounces, with the company reaching about 1.5 to 1.6 million ounces by end of 2026. The plant expansion at Palito is expected to start increasing throughput in the second half of 2026, with a fourth ball mill operational in Q3 2026 and full expansion ready in 2027, when production is targeting north of 60,000 ounces. On permitting, management said in May 2026 that Coringa final permitting could come by the end of that year or maybe the first part of the next year, and in February 2026 it expected positive news during 2026. A possible restart of the Saigo mine is seen in 2027.
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Corporate 1 statement
Market 1
Outside views 1 mention
1 mention by people who do not speak for the company. These are their views, not the company's.
Sources 2 interviews
Every interview 2
| Date | Channel | Interview | Statements |
|---|---|---|---|
| 13 May 2026 | Crux Investor | Serabi Gold (LSE:SRB) - Debt-Free Balance Sheet Fuels Expansion, Dividends and M&A Ambitions | 20 |
| 09 Feb 2026 | Crux Investor | Serabi Gold (LSE:SRB) – The Playbook for Growing to 70,000–100,000oz While Returning Capital | 22 |
What else those interviews covered
Every other asset named in the same recordings, by how many of them named it — the company's coverage context, not its holdings. Where the name is another company we hold a record for, it links to it.
Questions people ask
What is Serabi Gold's project and where is it?
Serabi Gold is a producer gold company. Everything here is drawn from its executives' own interviews.
Which interviews mention Serabi Gold?
We track 2 interviews mentioning Serabi Gold, across 1 channel (Crux Investor).
What are investors saying about Serabi Gold?
1 independent voice — people who do not speak for the company — are on record discussing it (1 neutral). Their reasoning is quoted in the outside-view section above.
What do recent interviews with Serabi Gold cover?
The most-discussed topics on record are timeline, economics, the deposit, financing — each claim quoted and dated in the sections above.