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15. Might 2019

Serabi Gold plc
("Serabi" or "Company")
Unaudited Interim Stories for Three Months March 31, 2016 and Administration Discussion and Analysis

Serabi Gold (AIM: SRB, TSX: SBI) , Brazil's targeted gold and improvement firm, at present publishes its unaudited interim report for the three-month interval ended March 31, 2019 and revealed it

Key financial info

 [19659000] 

70,163,641

19659001

3 months
March 31, 2019
three months
31 months
31 March 1948
US $
12 months –
December 31, 2018
US $
Income 17,126,064 [1965901] 13,826,851 [1965901] 43,261,743 43,261,743 ] 43 261 743
(11361987) (9489101) (31,101,zero16)
Complete movement 5,764,053 four,337,750 12,160,727
and share-based payments [19659011 (1 449 316) (1 449 316) (1 449 316) 5,867,918 [19659000] EBITDA 4,314,737 2,929,033 6,292,809
Depreciation and Depreciation (2 264 733) (2 264 733) (1964933) 19659011] Working profit / (loss) earlier than monetary bills and Taxes 2050004 987295 (2711602)
Revenue / (Loss) after Tax 1,549,962 10,786 [19659016] (5,754,541)
Earnings per share (primary) 2.63 cents zero.03 cents zero.03 cents
]
Average Gold Worth $ 1,287 $ 1,319 [1965947]] US $ 1,258
March 19, 1919
2019 [1965977] 2019
December 2018
Cash funds 12,133,713 9,216,048
Internet Belongings 70,163,641 69,163,641 69,163,641 ] Cash Prices and All-in Sustaining Costs (AISC)
Three months to March 31, 2019 for 3 months
until March 31, 2018
for 12 months
till December 31, 2018
Gold production for money and AISC for purposes [1965983] 10164 ] 9.188 37,108
Complete Financing Production Value (Ounces) $ 796 $ 907 US $ 821
Complete Manufacturing (Ounces) 1,021 USD $ 1,166 $ 1,093

Key Operational Info

SUMMARY PRODUCTION DATA FOR 2019 AND 2018 CALENDAR YEAR
Qtr 1 Qtr 1 Qtr 3 Qtr 4 Complete
2019 2019 2019 2019 2018 2018 2018 2018 2018 ] 2018
Gold (1) Ounce 10164 9188 9563 8101 10256 37108 [19659907] [19659903]
Dug ore - Complete tonnes 42,609 39,669 36,071 42,725 44,257 162,722 [19659497]
Gold (g / t) [19659144] 7.47 7.49 8. 12 6.23 7.45 7.29
19659040]
43,155 38,155 41,405 45,548 168,253
Gold Quality (g / t) 7.69 7.69 7.04 7.04 7.04 7.04 7.04 7.04 (19659096)
Horizontal Improvement - [Complete Meters 1,868 2 744 2 814 2 460 10 371
  1. The figures for gold manufacturing may be modified until the final agreed specs for refinery copper / the concentration of gold focus and gold dore.
  2. The whole quantity of gold produced in 2019 consists of handling of 3 136 tonnes of foaming rod at four.00 g / t (2018 full yr: 16 466 tonnes at 3.71 g / t).

FINANCIAL STATEMENTS

  • The $ 4.4 million EBITDA for the first quarter elevated by 47 % in comparison with Q2 2018
  • after a $ 1.5 million profit after taxes. 2.63 cents
  • Money at the end of March 2019 $ 12.1 million, $ 2.9 million improve because the end of 2018.
  • US $ 1021 an oz for the AISC quarter, with a money worth of $ 796
  • Operating money move of $ 6.5 million ($ 5.7 million after mine improvement prices) compared to $ 3.1 million (2 $ 1 million after mine improvement prices) in the same interval in 2018.

OPERATIONAL

  • Gold manufacturing in the first quarter of 10,163 ounces of gold, retaining momentum because the finish of 2018.
  • The second consecutive quarter of production is over 10,000 ounces for the primary time.
  • The tonnage of the mine was 42,609 tons of seven.47 grams per ton (g / t) of gold.
  • 43,551 tons of mine ("ROM") ore have been handled via plant-linked Palito and Sao Chico playing cards with a mean score of seven.69 g / t. ].
    • The new mineral useful resource estimate represents a 37% improve over the earlier estimate (Might three, 2017)
    • for the Coring resource with 216,000 ounces of gold (845,000 tonnes on average in situ) value 7.95g / t [19659154] which is a further amount of 298,000 ounces containing gold (1 436 000 tonnes averaging 6.46 g / t).
  • Production instructions for 2019 are estimated to be 40,000 to 44,000 ounces, which represents a big improvement in 2018 manufacturing of 37,108 ounces.

Seriken CEO Mike Hodgson commented:

”The last two quarters have been wonderful from an operational perspective and they are the first time the Firm has been operating for two consecutive quarters when gold manufacturing exceeds 10,000 ounces. These financial results mirror the operational enhancements we've loved in generating income, income and cash movement. All have improved significantly in the identical quarter in 2018.

“Nevertheless, the lower in unit value of production is fascinating, the reported AISC is $ 1,021 compared to $ 1,166 for the same quarter in 2018 and the typical AISC for 2018 for $ 1,093. Because of the nature of the operation, Serab has a fairly fastened month-to-month value within the type of labor, energy and expense. The important thing to profitability in mining and in the plant that produce and handle broadly harmonized ore models is to attenuate and deal with the ore high quality. Though the final six months' enhancements in processed high quality have been comparatively small, the benefits have been fairly vital

“The monetary outcomes of the first quarter have benefited from the high degree of gold stocks held on the finish of 2018 and bought in the course of the quarter. Through the evaluate period, 12,309 ounces have been bought when manufacturing was 10,163 ounces, and stock levels now rose to a better degree than regular. We anticipate closer monitoring of gross sales and manufacturing volumes during the rest of the yr.

”Internet cash move for the reporting interval was slightly below USD 3.zero million, bearing in mind mine improvement, exploration and different funding, but again the delay within the last sale of 2018. Offered that the Firm can keep the present levels I'm positive we will keep a very good money movement in the course of the the rest of the yr. The corporate's money belongings as of March 31, 2014 have been USD 12.2 million

. When Jair Bolsonaro was elected President in November 2018, lots of me, too, saw Real's potential to consolidate as he continued with public spending reforms and carried out a business help policy to boost progress. Thus far, nevertheless, the trade price has remained at Brr $ 3.80 to $ 1.00, and Brazilian Reasi's gold worth averages $ 4,850 within the quarter compared to Breg's $ four,264 for the same interval in 2018 and BrR $ 4,600 for the 2018 calendar yr. ”

Mike Hodgson's update on present operations is out there at the following link

https://www.brrmedia.co.uk/broadcasts-embed/5cda93c79ebae53e0fb331a6/serabi-gold-palito- Update? popup = true

SERABI GOLD OYJ
Condensed Consolidated Monetary Statement Launch from Large Revenue

On the End of Three Months
March 31, 31. March 31. ] 2019 2018 (expressed in US $) Notes (unaudited) (unaudited) (unaudited) [19659015] 17,126,zero40 13,826,851 Selling Costs (11,861,987) (9,489,101) Release of depreciation of inventories ] 500,000 - Depreciation and Depreciation 19659706 ] 3 474 508 2 344 897 Administrative expenses [19659012 (1,383,831) (1,313,424) ] (65,485) ( 77,293) On the sale of funds s positive factors 24.812 51.115 [1965920] 51,115 ) 2 050 004 987 295 Foreign money price (loss) / achieve zero15] (14,617) (57,090) [19659170] Financial Costs 2 (411,105) (590,373)