11:57 AM EDT, 04/29/2024 (MT Newswires) -- Serabi Gold ( SRBIF ) , a Brazil-focused gold mining and development company, on Monday said it swung to a profit in the fourth quarter as revenue rose.

After-tax profit for the three months ended Dec. 31 was US$2 million, or US$0.0258 per share, compared with a loss of US$112,527, or US$0.0015 per share, in the year-ago quarter. Revenue rose to US$15.8 million from US$14.3 million while EBITDA increased to US$3.4 million from US$2.9 million.

Serabi produced 7,891 ounces during the quarter, up from 7,798 ounces in the year-ago quarter.

For the full year 2023, after-tax profit was US$6.6 million, swinging from a loss of US$983,047 in 2022. Gold production in 2023 amounted to 33,153 ounces, up from 31,819 ounces in 2022.

Serabi Gold ( SRBIF ) shares were last seen up C$0.04 to C$1.16 on the Toronto Stock Exchange.

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