11:48 AM EDT, 07/17/2024 (MT Newswires) -- Serabi Gold ( SRBIF ) on Wednesday reported a 5.7% improvement in second-quarter gold production year-over-year.

The company produced 9,003 ounces of gold in the second quarter, up from 8,518 ounces, with the Coringa mine contributing 4,752 ounces at plant grades of 6.25-grams per tonne of gold.

The Palito plant processed a record quarterly total of 55,192 tonnes of ore, an increase from 41,116 tonnes.

Construction of the classification plant is underway at Coringa, with the crusher expected to be operational in August and the ore sorter on track to start operations by the fourth quarter.

Serabi reiterated its full-year 2024 consolidated gold production guidance of 38,000 to 40,000 ounces.

Serabi shares were last seen up $0.10 to $1.32 on the Toronto Stock Exchange.

Price: 1.32, Change: +0.10, Percent Change: +8.20