Serabi Gold Plc report decline in revenue and EBITDA for Q1 2020

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Serabi Gold Plc report decline in revenue and EBITDA for Q1 2020

Serabi Gold Plc (LON: SRB) has released its unaudited results for the three-month period ended 31 March 2020.

  • The company’s Revenue for the reported period stood at US$ 13.10 million, as compared to US$ 17.13 million for the period 3 months to 31 March 2019. The decline in revenue reflected sales of gold inventory realised in the first quarter of 2019 and lower production resulting from a mill stoppage in February 2020.
  • EBITDA for the first quarter of 2020 stood at US$3.20 million as compared to US$4.33 million in Q1 2019.
  • The company also reported that the first quarter gold production was of 9,020 ounces and the average gold price received on gold sales in 2020 was of US$1,549.
  • On 15th May 2020, at the time of writing, GMT 08:22 AM, SRB shares were trading at GBX 84.00, down by 5.00 points or 5.62% against the previous day closing price.

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