Serabi Gold Share Discussion Threads

[laptop15] 15/5/2019 07:28

https://twitter.com/laptop1515/status/1128547264161636354?s=19

[laptop15] 15/5/2019 07:15

Great set of results guys, nice reduction in costs and big increase from 2018 Q1. Aisc is has reduced considerably and a 1.5 million net profit is pretty good.

[laptop15] 15/5/2019 07:13

1st Quarter Results #SRB https://www.voxmarkets.co.uk/rns/announcement/92a95797-606c-4ed5-b1e6-f2c7b70eb4a8 #voxmarkets

[ppvn] 13/5/2019 16:12

Hoping the q1 results show a very nice EPS to get us moving back up. Guessing Weds for those.

[laptop15] 13/5/2019 13:31

Looks like we might see another rally in gold soon as the trade deal worries the markets. Good for serabi gold. Back over 1300 should see the share price rally imo

[bomber13] 11/5/2019 10:41

The Coringa PEA should show big improvements on the original assumptions , which 18 months ago were 32/- oz pa of production for 6 years , AISC of US$783 per oz , and a post-tax IRR of 31% . And better project economics will allow Serabi greater flexibility in funding the mine , if need be .

Next week , we will hopefully be told that Palito/Sao Chico had an excellent quarter one , that the tailings scrubber is working perfectly , and that the ore sorter is bang on schedule for installation H2 . Perhaps we may also be told that we have some significant sampling results from Cinderella . Perhaps the directors might even buy stock in the market ?

The Brazilian Real is hovering near its all-time low against the US dollar , central banks are buying gold in historic quantities , and the China/USA trade spat has the ability to ease Federal Reserve monetary policy rather sooner than expected .

The sellers of Serabi will be taken care of one way or the other .

[tightfist] 11/5/2019 08:39

PS: We are now down to 33% of the share price Greenstone came in at only 12 months ago. This is pretty shocking - IMO execution has been generally good - two tragic deaths and some mining plant unreliability/poor Q production but exploration has been better than expected by me.Looks to me as though yesterday's deals were nearly all buys working our way steadily through the overhang created by a determined, cash-hungry ii seller. Any trading or dummy news anyone?Cheers again, tightfist

[tightfist] 11/5/2019 08:22

Hi Sherry,Add to your list the publication of the Coringa PEA and the implied upfront cash requirements (funding?) for a CREDIBLE trajectory to 100kpa, and when. IMHO that is what is holding us back.I also have high hopes (ROI!) for the ore sorter commissioning and initial results towards the end of 2019.Cheers, tightfist

[sherry35] 10/5/2019 17:25

What is the plan and status on the 2019 drill program? Until the ore sorter gets commissioned, the drill assay results and are updated reserves/resources are key enablers for the share price

[ppvn] 09/5/2019 22:25

Great post bomber, thanks. Was beginning to think my investment rationale here was off the mark but glad I'm not the only one bullish here.

[bomber13] 09/5/2019 19:06

It seems pretty obvious to me that the Ross Beaty's of this world must be running the slide rule over Serabi at these levels , particularly as there are seemingly not one , but two forced sellers .

The market cap is only US$19.5m , the gross cash is US$12m , albeit promised to Anfield/Equinox Gold , Ross Beaty vehicles , and Serabi paid US$22m to Beaty JUST for Coringa .

Coringa was then going to be a 32/- oz pa producer under its BFS , and 18 months later it is looking more like a potential 40/- to 50/- oz pa producer once permitted .
Meanwhile , Palito and Sao Chico are now shaping up to be 50/- to 60/- oz producers with the excitement of some significant brand new exploration leads still to come .

I don't know whether anyone here has read the recent Sprott report on the upcoming M&A frenzy in gold-mining juniors , but here is the link , it is worth a read -



Bring on the Q1 financials next week .

[ppvn] 09/5/2019 15:46

River and Mercantile picked up a few last week on market. I really don't know what to make of the share price currently.

Its screaming "bargain" to me, but when it does that I agree it's a bit ominous.

[sherry35] 09/5/2019 15:37

The retailers are nibbling at it but the institutions don't see a bargain. Unless ... drum roll ... private placement shares with warrants are being printed soon. The institutions have never never never bought shares out of the public market in the last 5 years. They want cheap shares and continued control. They own 80% of the O/S. Toss in ELD and SBI executives, they control 85%.

Private placement is coming soon now that the share price has been a deterministic walked down.

[ppvn] 09/5/2019 14:59

They need to do both imv. And do something about their valuation.

BRL should help, the q1 sales volume should help, the scrubber should help. Things both within and out of their control have all been in serabi's favour so they need to capitalise on this more than ever, particularly given Ankers recent disposal of shares.

[loganair] 09/5/2019 14:42

I wouldn't be at all surprised if the price of gold continues to trade range bound $1,220 to $1,360 for the next 12 months therefore any increase in profit will either come from an increase in production and/or a reduction in the AISC.

[ppvn] 09/5/2019 13:44

Glad to see the fall seems to have completed and amazed that people aren't buying into what must be the cheapest gold miner in the world!

Q1 numbers next week should be their best ever, or so I hope.

[ppvn] 05/5/2019 20:50

Hi tightfist,

Yes that is a good question re. the capex on bringing Coringa to production. I wonder if the PEA will shed anymore light on just what Anfield had already bought; I do believe they have some equipment but it would be good to get more clarity on just what will need to be spent.

I really honestly don't know what to think about the state of their finances because the $12m final payment for Coringa could be met by a combination of debt and existing funds, but as you say I don't know what further capex is required. They should be able to increase and extend the Sprott facility (though it kind of pains me to say it!) as they have done previously; that could give c. $5m additional and with luck they could have anywhere up to about $16-$18mm cash on hand by September? I guess that's pretty blue sky though as they will incur spend on exploration etc though that does seem to be being managed ok to my relatively untrained eye.

We should get a glimpse of what their plans are before q3. They've been pretty open with what they need in prior announcements? Hopefully greenstone will put up a robust defence of existing holders in the board meetings!

[tightfist] 05/5/2019 18:50

Hi PPVN,Agreed, lots of potential and operating cashflow seems solid - Capex cashflow to achieve Coringa commercial production is the dark cloud in the sky, as far as I am concerned, and I am impatient to see the cash demands of the PEA and accessible approach to funding. Or is it to be a slow organic expansion?.Unless all the large ii's are on-board the dilution of a significant placing seems IMO untenable. If they are then maybe we will also see a subscription offer to placate PI's too? That way the placing price would become less of an issue?.Any Thoughts? tightfist

[ppvn] 05/5/2019 08:05

Morning chaps,

Sherry; thanks for those coordinates, not a lot there at the moment is there really! Obviously a bit of forest clearance but I'm not seeing the mine equipment etc that have been shown in other presentations so I guess that perhaps Google hasn't had a satellite pass over in a while!

SP most definitely underwhelming at the moment, and that's putting it very mildly! Rightly or not, I'm viewing it as a by-product of the illiquid share structure rather than an inherent weakness in the company. This is mainly due to the fact that they should be really rather cash positive, particularly in q1. They should be making a multimillion quarter with costs down and profit significantly up - if they aren't I'll start being a little more concerned. I think Anker have probably nearly got rid of more than half of their holding from looking at the volume, and don't know what Garraways plans are though I'd guess they are waiting for a higher share price - they appear to have stopped selling after 16th April.

I'm still excited about the results for the cindarella zone which should be filtering in relatively soon (they completed soil geochemistry a while back), the impact of the scrubber (admittedly Clive put a bit of a damper on this when he said "the full benefits should become clear in q2..."), as well as the final arrival of the long announced ore sorter in H2. Coringa PEA we broadly know is going to be in line with the previous Anfield one, perhaps slightly better due to the increased and larger resource, but they are definitely well on their way to their even longer announced 100k / pa.

Given that they already operate profitably (this should reflect in q1), I'm hopeful the share price will follow. The Coringa final payment is due in q3 - by September their total outstanding loans should total c.$3.3mm so with their current cash of c.$15mm I would hope they can do something toward avoiding significant dilution at these levels to existing holders. At this price, the share price consists almost entirely of their cash so I'm hopeful there can't be much further to drop.

Only my investment rationale! And definitely got fingers crossed!!

[sherry35] 05/5/2019 05:49

tightfist - There is a AGM coming up soon. Perhaps the institutions have formulated the same opinions of the mgmt team.

[tightfist] 04/5/2019 21:17

Hi Sherry; agreed, but it's not only the impact on promotion of the company but, for me, it's (implied lack of) belief in the direction/decisions that are supposed to be driving shareholder value. If I was Greenstone having paid 72p twelve months ago, I would be totally underwhelmed.Cheers, tightfist

[sherry35] 04/5/2019 19:32

Coringa Mining Permit geographical coordinates:

-7.594228, -55.100989

[sherry35] 04/5/2019 17:57

tightfist - It's not very compelling promotion of the SBI when the two primary officers own 60,000 shares out of a O/S 58,900,000 shares. There are retail investors that have bigger positions than the two combind.

I've never seen any insider acquisitions out of the public market by any of these folks over the past 5 years in holding this stock.

[tightfist] 03/5/2019 20:51

I note that Christopher Kingsman (Anker Holding AG principal) has today announced an increase in his holding in Adept Technology (ADT).

[tightfist] 03/5/2019 20:31

Thanks Loganair; I think we also need to remember that the two executive directors (MH, CL) only hold about 0.1% between them - see page 73 of the Annual Report. And it was unchanged throughout 2018....... Banados holds the vast majority of the BoD holding.