08:50 AM EDT, 07/14/2025 (MT Newswires) -- Serabi Gold ( SRBIF ) on Monday reported an increase in gold production in the second quarter.

Second-quarter gold production rose to 10,532 ounces, compared with 9,003 ounces in the prior-year period. Total ore mined during the quarter decreased to 52,032 tonnes at 6.72 g/t Au compared with 59,564 tonnes at 5.06 g/t, a year earlier.

The company had $30.4 million in cash at the end of June while it had $24.6 million net of interest bearing loans and lease liabilities.

Serabi said it remains on track to achieve consolidated production guidance of 44,000 - 47,000 ounces gold in 2025.

"Our production profile will see greater quarterly production in Q3 and Q4 to reach guidance," said Serabi Gold ( SRBIF ) Chief Executive Mike Hodgson. "With this as a foundation to what we anticipate will be a successful period of organic growth to look forward to in the second half of 2025."

Shares of the company closed up 3.8% to $3.55 on Friday on the Toronto Stock Exchange.