Business
Unaudited financial results for Q1 2023
Unaudited financial results for Q1 2023.
About this update from Serabi Gold Plc
[{"type":"text","content":"\n\n \n \n\n Unaudited financial results for Q1 2023\n\nUnaudited interim results for the three period ended 31 March 2023 Serabi (AIM:SRB, TSX:SBI), the Brazilian focused gold mining and development company, today releases its unaudited results for the three month period ended 31 March 2023. A copy of the full interim statements together with commentary can be accessed on the Company’s website using the following link: https://bit.ly/43ziLi4 Financial Highlights Gold production for the first quarter of 8,055 ounces.Cash held at 31 March 2023 of US$13.9 million (31 December 2022: US$7.2 million).EBITDA for the three-month period of US$2.3 million (2022: US$2.1 million).Post tax profit for the three-month period of US$1.5 million (2022: 1.7 million),Profit per share of 1.94 cents compared with a profit per share of 2.28 cents for the same three month period of 2022.Net cash inflow from operations for the three-month period (after mine development expenditure of US$0.4 million) of US$2.7 million (2022: US$2.5 million outflow).Average gold price of US$1,892 per ounce received on gold sales during the nine month period (2022: US$1,844).Cash Cost for the three-month period to March 2023 of US$1,281 per ounce (Q1 2022 : US$1,438 per ounce) representing an 11% improvement quarter on quarter.All-In Sustaining Cost for the three-month period to March 2023 of US$1,516 per ounce (Q1 2022 : US$1,810 per ounce) represents a 16% improvement compared to Q1 2022. Key Financial Information SUMMARY FINANCIAL STATISTICS 3 months to31 March 2023US$(unaudited)3 months to31 March 2022US$(unaudited)Revenue 13,437,36912,885,020Cost of sales (9,767,003)(9,273,472)Gross operating profit 3,670,3663,611,548Administration and share based payments (1,354,575)(1,559,142)EBITDA 2,315,7912,052,406Depreciation and amortisation charges (834,514)(1,171,888)Operating profit before finance and tax 1,481,277880,518 Profit after tax 1,467,4791,729,603Earnings per ordinary share (basic) 1.94c2.28c Average gold price received (US$/oz) US$1,892US$1,844 As at31 March 2023US$(unaudited)As at31 December 2022US$(audited)Cash and cash equi...