Serabi Gold shares fell 16% to 190p on Wednesday after the Brazilian miner cut its 2026 gold production guidance to a level similar to 2025's 44,169 ounces, down from previous guidance of more than 53,000 ounces. The company blamed permitting delays at its Coringa mine, where the GUIA trial licence caps ore transport to the Palito plant at 100,000 tonnes a year, and 85,602 tonnes had already been moved by 30 September. A full operating licence still requires a land use change approval from INCRA and sign-off from FUNAI. Third-quarter output fell 9% to 11,008 ounces as mined grades at Palito declined, while cash stood at $63.2 million with no debt. Serabi expects its fourth ball mill to lift Palito capacity to 330,000 tonnes in 2027 and will update guidance with third-quarter results in late November.
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| Market | Gold |
|---|---|
| Close on 10/20/2026 | 4,125.21 |
| Change that session | -0.38% |
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