Business
Unaudited results for the three month period en...
Unaudited results for the three month period en....
About this update from Serabi Gold Plc
[{"type":"text","content":"\n \n \n Unaudited results for the three month period ended 31 March 2020 \n \n \n \n \n For immediate release\n \n 15 May 2020\n \n Serabi Gold plc\n (“Serabi” or the “Company”)\n Unaudited results for the three month period ended 31 March 2020\n \n 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 2020.\n \n Financial Highlights\n \n \n Cash Cost for the quarter of US$996 per ounce.\n All-In Sustaining Cost for the quarter of US$1,257 per ounce.\n EBITDA for the first quarter of 2020 of US$3.20 million (Q1 2019: US$4.33 million).\n Post tax profit of US$0.77 million reflecting lower level of gold sales realised during the period compared with 2019 offset by higher average gold prices in 2020. \n Earnings per share of 1.31 cents.\n Average gold price of US$1,549 received on gold sales in 2020\n Lower revenue, quarter on quarter, reflects sales of gold inventory realised in Q1 2019 and lower production resulting from a mill stoppage in February 2020 (see news release 26 March 2020).\n Agreement, concluded in April 2020, with Greenstone Resources II LP (“Greenstone”) to subscribe for US$12 million Convertible Loan Stock.\n Agreement reached with Equinox Gold Corp. (“Equinox”) allowing the Company to pay, in monthly instalments, the remaining US$12 million consideration for purchase of Coringa, until travel restrictions caused by Coronavirus are lifted.\n \n \n Key Financial Information\n \n \n \n \n SUMMARY FINANCIAL STATISTICS FOR THE THREE MONTHS ENDING 31 MARCH 2020\n \n \n \n \n \n \n \n \n \n \n 3 months to\n 31 March \n 2020\n US$\n (unaudited)\n 3 months to31 March 2019US$(unaudited)\n 12 months to31 December 2019US$(audited)\n 12 months to31 December 2018US$(audited)\n \n \n \n Revenue\n \n \n \n \n 13,097,687\n 17,126,040\n 59,948,092\n 43,261,743\n \n \n \n Cost of Sales\n \n \n \n \n (8,233,056)\n (11,361,987)\n (37,203,445)\n (31,101,016)\n \n \n \n Gross Operating Profit\n \n \n \n \n 4,864,631\n 5,764,053\n 22,744,647\n 12,160,727\n \n \n \n Administration and share based payments\n \n \n \n \n (1,664,630)\n (1,424,504)\n (5,524,320)\n (5,867,918)\n \n \n \n EBITDA\n \n \n \n \n 3...