Brazilian gold miner Serabi saw its earnings almost double on increased production for the first half of 2024.The miner reported an EBITDA of US$13 million for the first half of the year, compared to $6.6 million in the same period last year.Revenue was at $42.6 million, up from $30.5 million, and post-tax profit reached $9.2 million, up from $5 million.Serabi produced 18,010oz of gold, an almost 9% increase from 16,524oz in the first half of 2023, at an all-in sustaining cost of US$1,782/oz.
" "The cash position of $12 million remained steady, reflecting the continued investment in the development and ramp-up of Coringa, the ongoing mine development at Palito and the investment we have made in the crushing and ore sorting plant at the Coringa mine," he added.In January of this year, Serabi received a three-year renewal of Coringa's trial mining license following an agreement that relaxed restrictions on license renewals from the Brazilian authorities.
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