07:11 AM EDT, 05/29/2025 (MT Newswires) -- Serabi Gold ( SRBIF ) on Thursday said first-quarter profit more than doubled as the miner benefited from the higher price of gold.

Profit after tax came in at US$8.8 million, or US$0.12 per share, up from US$3.6 million, or US$0.05 per share.

Revenue increased to US$27.6 million from US$20.2 million. EBITDA was US$12.4 million, a jump from US$4.7 million.

Gold production increased to 10,013 ounces from 9,007 ounces. Average gold price received on gold sales also rose to US$2,908/ounce from US$2,081/ounce.