Serabi Gold Plc expects to produce 40,000 ounces of gold in 2017 at all-in sustaining costs of between US$950 per ounce and US$975 per ounce.

The company's full-year production in 2016 beat the increased guidance after achieving a 19% year-over-year increase in output thanks to its Palito and Sao Chico mines.

The company produced 39,390 ounces in the year, beating the guidance of 39,000 ounces, according to a Jan. 23 release.

Gold production in the fourth quarter of 2016 totaled 9,413 ounces, compared to 10,233 ounces in the third quarter.