Serabi Gold PLC - London-based Brazil-focused gold miner - Posts increased profit in 2021 on the back of higher gold prices. Pretax profit grows to $13.1 million from $10.4 million in 2020. Revenue rises to $63.1 million from $55.8 million. Firm sold gold for an average price of $1,776 per ounce in the year versus $1,727 in 2020. Cash cost in 2021 rises slightly to $1,090 per ounce from $1,075 in 2020. Gold production for April was 2,919 ounces, ‘the highest monthly level so far in 2022,’ Serabi says. Gold production in May to be similar, it adds.

Meanwhile, company says former Chair Sean Harvey will step down from the company’s board at the annual general meeting on June 28. He has been a director since 2011 and served as chair from 2011 to 2017.

Current stock price: 43.90 pence, up 9.8% on Monday

12-month change: down 41%

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