Serabi Gold Plc · LSE:SRB
Serabi Gold — Investor Presentation (June 2025)
23 slides from Serabi Gold's investor presentation, June 2025
Slide 1: Investor Presentation
June 2025 Investor Presentation Sustainable gold production and growth in Brazil
Slide 2: Disclaimer
Disclaimer This presentation, and any ancillary documents relating to it, any oral presentation and any question or answer session (together, the "Presentation'') have been prepared and issued by Serabi Gold pic (the "Company"). This Presentation is being supplied to you solely for information purpo
Slide 3: Positioned for growth and value creation
Positioned for growth and value creation ▪ >20 year track record Sustainable Operator ▪ Stable 30-40koz pa production Palito Complex ▪ History of resource replacement ▪ Production growth to 60koz by 2026 Growth to >60koz pa ▪ Updated PEA confirms robust economics Coringa ▪ Classification plant commi
Slide 4: Three-phased strategy to become a +100kozpa producer
Three-phased strategy to become a +100kozpa producer Stable production base growing to 60koz by 2026; brownfield exploration to unlock pathway to becoming a +100kozpa producer F2025 production guidance: 44-47koz Au Palito Coringa 100+ 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025e 2026
Slide 5: Corporate overview
Corporate overview Capital Structure Supportive share register Fratelli, 9.9% Premier Miton, 4.2% Tickers (AIM / TSX / OTCQX) SRB / SBI / SRBIF River and Mercantile, 3.2% Starboard, 19.9% Share Price (03 June 2025) £1.71 / C$3.16 / US$2.30 Gold 2000, 2.9% Ordinary Shares 75.7m Directors, 0.2% Fully
Slide 6: Unlocking value in the globally significant Tapajós mineral province
Unlocking value in the globally significant Tapajós mineral province Para State ▪ No. 2 in Brazil for mining with improving infrastructure ▪ Development incentives - effective tax rate of 15.25% The Tapajós - a globally significant mineral province ▪ ~90,000km2 (size of Portugal) ▪ 3rd largest alluv
Slide 7: Committed to mining sustainably in Brazil
Committed to mining sustainably in Brazil >20 years of successful operation with our stakeholders Commitment to Health & Safety ▪ During 2024, 37,599 hours of safety training was provided to employees, an average of 44 hours per employee Supporting the local economy ▪ 68% of employment sourced from
Slide 8: Leading gold producer emission intensities
Leading gold producer emission intensities Low carbon intensity Gold Producer Greenhouse Gas Emission Intensities (t CO2-e/oz) 2.74 ▪ Serabi has one of the lowest GHG emission 1.33 1.51 1.19 intensities when compared Group intensity avg. of 0.98 to senior gold producers 0.63 0.65 0.76 0.78 0.53 0.55
Slide 9: Asset Overviews
Asset Overviews SERABI
Slide 10: Palito Complex | Delivering consistent production
Asset Overviews Palito Complex | Delivering consistent production GUIDANCE 44,000 to 47,000oz for 2025 43-101 RESOURCES* (Oct 2023) M&I: 378koz at 10.1g/t, Inf: 154koz at 7.0g/t MINING Underground - selective open stoping PROCESSING 650tpd conventional flotation and CIP, ore-sorter PRODUCT Gold bull
Slide 11: Ore Sorter | Maximizing value by minimizing waste to mill
Asset Overviews Ore Sorter | Maximizing value by minimizing waste to mill Ore sorting explained ▪ Comex ore sorter sorts on colour and/or density ▪ Used to remove waste and pre-concentrate ROM at Coringa ▪ Liberates plant capacity at Palito Complex ▪ Minimises transport costs and tailings (via less
Slide 12: Coringa Mine | Driving Serabi production growth
Asset Overviews Coringa Mine | Driving Serabi production growth Under construction to create a multi- OWNERSHIP asset >60koz Acquired 100% for US$22m pa producer Resource growth potential STATUS with u/g drilling ECI complete, final permit (LI) pending PRE-ACQUISITION WORK COMPLETED BFS, 50,000m dri
Slide 13: Coringa Mine | De-risked with favourable economics
Asset Overviews Coringa Mine | De-risked with favourable economics Coringa Mine Units 2024 PEA Base Case Coringa Project (100% ownership, Para State, Brazil) Gold Price $/oz $2,100 ▪ Commenced development in 2021, producing first gold in July 2022 Cut-off Grade g/t Au 3.16 ▪ Current operations signi
Slide 14: Exploration Opportunities
Exploration ee Opportunities S SERABI GOLD
Slide 15: Brownfield at Palito Complex | Headframe exploration
Exploration Brownfield at Palito Complex | Headframe exploration ▪ History of resource replenishment ▪ Palito mine sits within 8km NW-SE trend ▪ Ore-bodies remain open laterally, on strike and to depth ▪ Intrusion-related gold deposit – expected to have very significant vertical extent ▪ 2022-23 dri
Slide 16: Brownfield at Coringa Mine | Potential for multiple mines
Exploration Brownfield at Coringa Mine | Potential for multiple mines ▪ Significant resource growth potential as drilling limited to ~250m vertical depth ▪ Current resource underlies 1.5km of artisanal workings in 8km artisanal trend ▪ All lying within 30km of anomalous soil geochemistry – remainder
Slide 17: Greenfield at Palito Complex | High priority exploration targets
Exploration Greenfield at Palito Complex | High priority exploration targets Priority targets 1. São Domingos ▪ 4km x 2km target ▪ Significant artisanal activity ▪ High grade first pass drilling 2. Matilda ▪ 4km x 4km target ▪ In 2023, drilled 7,598m (21 holes) ▪ 12 holes hit copper porphyry mineral
Slide 18: Greenfield at Palito Complex | São Domingos
Exploration Greenfield at Palito Complex | São Domingos Hole 21-SD-010: 7.15m at 258g/t Au ▪ Drilling to follow-up on 7.15m at 258g/t intercept – 7th highest intercept for TSX company in 2021* ▪ Initial 12 holes indicate a geological potential estimate of 88.5koz at 13.83g/t Au (link to press releas
Slide 19: Greenfield at Palito Complex | Matilda prospect
Exploration Greenfield at Palito Complex | Matilda prospect ▪ 4x4 km geochemical anomaly with 2x2 km Au-Cu-Mo-W core ▪ Coincident with anomalous high magnetic susceptibility associated with magnetite alteration ▪ Mapped granites with potassic, propylitic and sericite-chlorite alteration, dacite porp
Slide 20: Delivering Value
Delivering Value SERABI GOLD
Slide 21: Significant re-rating potential
Delivering Value Significant re-rating potential Undervalued, enhanced scale to drive re-rating P/NAV (x) 2025E EV/EBITDA (x) 2025E FCF Yield (%) Andean Precious 0.9x McEwen 7.7x Mineros 32% Americas G&S 0.8x Aris 5.3x Jaguar 24% Cerrado 0.8x Luca 3.6x Serabi 22% Jaguar 0.8x Minera Alamos 3.3x Manda
Slide 22: Board and Key Management
Delivering Value Board and Key Management Mike Hodgson (CEO, Director) Michael Lynch-Bell (Non-exec Chairman) 40+ years worldwide mining experience, focused on operating and 38 years with Ernst & Young (EY), having led its Global Oil and Gas, building underground mines. Previously COO at Orvana Mine
Slide 23: SERABI GOLD plc
For further information please contact us: SERABI GOLD plc Andrew Khov Vice President, Investor Relations & Business Development tel +44 (0) 20 7246 6830 email contact@serabigold.com The Long Barn Cobham Park Road Downside Surrey KT11 3NE United Kingdom www.serabigold.com