Serabi Gold plc reported production results for the fourth quarter and full year ended December 31, 2016. Total production for the fourth quarter of 2016 was 9,413 ounces of gold, generated from the processing of the run of mine ore from the Palito and Sao Chico Mines, combined with the Palito surface coarse ore and the stockpiled flotation tailings accumulated from Palito mine production in 2014. Mine production totaled 44,579 tonnes.

The total gold production for the year of 2016 was 39,390 ounces of gold, exceeding guidance and representing a 19% improvement compared with the 2015.

The company provided production guidance for 2017, it expects production of 40,000 ounces at an AISC of between $950 and $975 per ounce, which is in line with the cost guidance of 2016. The 2017 guidance of 40,000 ounces is an 8% improvement on Serabi's initial guidance for 2016 which was 37,000 ounces.