Serabi Gold Share Discussion Threads

[ppvn] 07/3/2019 11:53

Yes; if (and it is obviously a big "if", as well as a time consuming "if").

In the meantime their existing mines are ticking away and ramping up production. But it was a "penny drop" moment for me and realised I might not have seen the wood for the trees.

[mofan] 07/3/2019 11:44

Yes. If they find the bowl??

[ppvn] 07/3/2019 11:10

Ok so my investment rationale here has been on the basis of Palito and Sao Chico, then in the past year Coringa too I suppose. I've been doing more reading up about the broader Tapajos region, as well as historical mining in Para state. I've come to the conclusion that whilst Serabi's mines are the reason I invested, they are perhaps peripheral to Serabi's ultimate goal. I don't think they are focused on their hard rock mines as an end goal; I believe they are going for an open pit at a location as yet undecided. The reasons for this are:

Mike has always been keen to mention the artisanal activity that has gone on near their mines. At first I believed this to be garimpeiros chipping away at the rock that serabi mine, but this is incorrect. The artisanal activity that has been going on in Tapajos has primarily been hydraulic mining of the surface deposit; an overlying layer around 10m thick that has a gold impermeable layer beneath. So basically the gold has run off over thousands of years from an as yet undiscovered source. Their EM survey was designed (and this was alluded to when they have been discussing "massive sulphide" deposits) to survey where this possible source could be, and it also explains the scale of the survey. They are looking for this source.

Upon rereading the Nov 28th announcement, this passage leapt out at me when describing the Cinderella anomaly: "A coincidental linear anomaly which now extends for seven kilometres and where there has been historical artisanal mining activity around the areas that drain from the anomaly, make it an extremely significant anomaly."

So they think that Cinderella could be a massive sulphide deposit, which I didn't pick up as being an open pit type. Things could get rather interesting in more than one way here.

[sherry35] 05/3/2019 16:05

I think bot/algo trading just arrived on the TSX yesterday. Today, the BID/ASK has tightened up finally but the order sizes are 500 shares on each side. House 001 on both sides of the trade.


Mar 04 03:59:18 PM 0.73 500 90 1
Mar 04 03:58:15 PM 0.72 500 90 1
Mar 04 03:53:32 PM 0.71 500 90 1
Mar 04 03:30:56 PM 0.7 500 90 1
Mar 04 03:30:46 PM 0.69 500 90 1
Mar 04 03:30:04 PM 0.68 500 90 1
Mar 04 03:29:48 PM 0.67 500 90 1
Mar 04 03:29:23 PM 0.66 500 90 1
Mar 04 03:28:51 PM 0.65 500 90 1
Mar 04 03:28:28 PM 0.65 500 90 1
Mar 04 03:28:19 PM 0.65 500 90 1
Mar 04 03:28:10 PM 0.65 500 90 1
Mar 04 03:27:39 PM 0.65 500 90 1
Mar 04 03:27:25 PM 0.65 500 90 1
Mar 04 03:27:15 PM 0.65 500 90 1
Mar 04 03:25:05 PM 0.65 500 90 1
Mar 04 03:25:01 PM 0.65 500 90 1
Mar 04 03:24:21 PM 0.65 500 90 1
Mar 04 03:24:12 PM 0.65 500 90 1
Mar 04 03:24:00 PM 0.65 500 90 1
Mar 04 03:23:29 PM 0.65 500 90 1
Mar 04 03:23:06 PM 0.65 500 90 1
Mar 04 03:22:56 PM 0.65 500 90 1
Mar 04 03:22:44 PM 0.65 500 90 1
Mar 04 03:21:56 PM 0.65 500 90 7

[ppvn] 05/3/2019 10:57

After that exciting little blip it's disappointing to see the gains given back!

Still find it quite astonishing that serabi are valued where they are with a >1m oz resource (in narrow vein no less - I.e. rare to have massive defined resource), huge exploration potential that's been fairly well defined now, and operates profitably.

Hopefully they will repeat the monthly updates on production and keep pulling in a million dollars (plus) per month net. Should just be a matter of time before someone pays attention.

[ironstorm] 05/3/2019 07:57

In the news section in the header. I just happened to glance at it.

Bonkers title

[gotabsirius] 04/3/2019 21:49

Where do you get your RNS updates for this company? Cheers

[ironstorm] 04/3/2019 21:12

Totally surprised and it was looking so good. But by my technical system it is a buy.

[gotabsirius] 04/3/2019 20:03

Had to rub my eyes tonight when I reviewed price after being up 15% this morning on excellent news....Might get chance to add some more

[ironstorm] 04/3/2019 08:01

New resource update for Coringa - under the oddly titled RNS Miscellaneous.

37% more.

Looks good.

[sherry35] 04/3/2019 00:40

As for the debt, I would like to see it paid off with cash, gold loan and share financing in this order. I think the share financing is will be considered - hopefully at $3.00 PPS. Even a $1.50 would be better than 60 cents.

[sherry35] 04/3/2019 00:37

I noticed the House 7 50K BID order, on the TSX, getting more aggressive since it appeared on/off a few weeks ago. It did get a small partial fill a few weeks back around 51/55 cents. In the last two trading days its been moving upwards to 70 cents CDN with 65 cents on Friday. Compared to the other orders on both sides, it's very aggressive given the trade size.

[gotabsirius] 03/3/2019 15:15

Thanks, I noticed of a recent presentation debt was $6m and paying down at a rate of $900k per quarter. Would like to see a more comprehensive debt restructure which would take out uncertainty re Coringa $12m payment and funding to get Coringa into production. Spent lots of time researchin the upside potential of reserves / resources in their tenements. Could well blow current figures out the water!!

[bomber13] 03/3/2019 14:01

Hi Gotabsirius and Tightfist ,

re the Sprott debt , the mid November Q3 results seemed to infer it was US$2.7m ( see under non-current liabilities ) , and , post the new monthly repayment agreement with Sprott in September 2018 , it will all be repaid by end June 2020. We should have an up to date figure with the Q4 and 2018 figures due end of month . One of Greenstone's partners has been on the board since they took 30% of Serabi in March 2018 , so one assumes they are okay with that ?

re the Coringa plant , the following comment was made at the time of the Coringa deal in Novemeber 2017 - " Book value attributed by Anfield to property, plant and equipment being acquired, including a 750 tonnes per day crushing, milling and CIP process plant, is C$20.8 million." So , it would seem we have already bought a plant , which I suspect Serabi will currently be refurbishing ahead of the mine construction permit due H2 ?

The big PDAC meeting in Toronto starts today , where Serabi is represented ( for the first time ? ) , and wouldn't it be great if we were to get the new Coringa resource update RNSed tomorrow AM ? As the CEO inferred in his latest interview , it is due early March .

[ppvn] 03/3/2019 10:09

Don't know where you read that; just Google "narrow vein gold mining m&a" and see what comes out!

[tightfist] 02/3/2019 19:39

Hi,Is M&A now going on concerning Narrow Vein Mines? I remember reading a long time ago the that NVM are not attractive M&A opportunities.I guess due to small scale, specific geology knowledge, or life-of-mine visibility?Just a thought. Cheers, tightfist

[tightfist] 02/3/2019 19:34

I think the RNS on 17/09/18 gives or implies most of the answer. Re-reading the RNS I bet Greenstone were chuffed (not) at the issue of 47p shares.....The real issue looking forward is the funding of Coringa tenement final payment and the plan for processing the ore. So far I believe that SRB have largely re-started or shipped-in mothballed processing equipment, but I assume that is not sustainable at Coringa (capacity, distance).I must get around to reading the latest presentation..... Good to see the overdue share price bounce on LSE; traded again on TSX! tightfist

[gotabsirius] 02/3/2019 15:38

Hi, could anyone tell me the current debt position with Sprott? Has the company starting repayments I.e September 2018 and what are the terms? Thanks

[ppvn] 27/2/2019 17:26

In this environment I think Sherry is right. With all the m&a going on having a load of resource shored up would make a lot of sense.

I wonder what the plan for the Cinderella zone is.

[tightfist] 25/2/2019 08:29

Hi Sherry, logonair;Unfortunately I am not now sure it's in MH's or the three ii's (especially Sprott) interests to see the share price rise in the short term, until the funding of the Coringa final payment is finalised - if it is not to be 100% operational cash then the more aggressive the terms the better as far as they are concerned - depressing but possibly true?!This will take several months to play-out (and, if one is a conspiracy theorist, it may be the reason behind slow progress on the Ore Sorter?). The Tailings Scrubber should deliver cash benefit in 2019, but it's not sustainable.It's worth bearing in mind that Coringa has not reached "commercial production" so I believe any Coringa-related costs are put on the balance sheet and not within the current AISC? (See analogous note 1 of 30th March 2016). I am not totally sure about AISC inclusion of the geophysics & drilling targeting extension (Production and/or Life of Mine) at Palito and Sao Chico, or about the Ore Sorter which is a 2019 Capex item? hopefully it become clearer in the results at the end of March.Cash flow remains key for SRB during 2019. But they portray themselves (worryingly?) as a regional consolidator - I just hope they pause for breath and a meaningful eps/SP increase before any further acquisitions. They need to move forward with valuable, credible paper rather than getting the begging bowl out again!Cheers, tightfist

[sherry35] 24/2/2019 21:37

The Jan/19 BMO investor presentation indicates the insiders own 2.14% of the o/s shares. Using the "58.9M basic shares" from the investor presentation, the directors would own approx. 1.27M basic shares. The INK Research report only accounts for 261K shares. The rest of the INK report covers the institutions and 10% holders. So, the chart package is in direct conflict with INK Research report, which sources its insider information from www.sedi.ca.


So, where are the remaining 1M shares hiding?

[sherry35] 24/2/2019 16:00

Eldorado to hike gold production to over 500,000 ounces in 2020




I can think of better business opportunities to spend $500M than in Greece. Evidently the ELD exec team made the right decision on maintaining status quo in Greece as the EU heads into a recession. If ELD wants to grow to 500M ounces per annum by 2020, look at slide 4 of the Jan/19 BMO investors presentation. With a small investment into a mill at Sao Chao and fast tracking the Coringa permits and additional mill/mining equip., this would pull in SBI's production target and reduce Sao Chico's mining costs in ore transportation.

The smart thing to do is operate three drills to increase the resource/reserve to 2M plus ounces by year end. This will increase the book value. This is the question that bears asking the executive team "What is the <<plan>> to determine the real value of SBI's assets?". How much wealth is in the ground?

The Coringa debt could be paid out in higher priced shares and cash as opposed to cash. JUST NEED TO GET THE #$%@ share price MOVING NORTH. DAH!!!!!!!!!!

[sherry35] 23/2/2019 00:23

Logan - I agree with getting the costs down. I'm hoping the ore sorter is commissioned in early 2H19.

If I was the CEO, I would start promoting this company and drive more investor enthusiasm into the share price With institutional buying out of the market, the share price could easily up to $3.00 per share especially if POG moves north. I would then settle the Coringa deal with both cash and shares. HOWEVER, this operational CEO seems to like printing more shares at low prices in order to fatten the executive freebe stock options. The higher the O/S share count the more options get printed. I predict another round of stock options are issued very soon.

This was one of the issues expressed by a former KAI director 4 years ago. The CEO has no desire to promote this company unless its to institutions at low share prices. And here we, trading at half the reverse split with still no promotion of the company. Lets hope these institutions start stepping into the game and average up on their wealth of cheap shares.

Lastly, IR services to CDN investors is zero. I have yet to have my phone calls returned, except by the accounting person, or my Web inquires responded too. Another reflection of poor share holder value being demonstrated by the company.

Just my two CDN pesos worth.

[loganair] 22/2/2019 20:52

I think one of the most important things is for Serabi to get their costs down to $1,000 an ounce, this would bring in over $4mln, most of which will go stright down to the bottom line as profit.