Serabi Gold Share Discussion Threads

[borisjohnsonshair] 14/10/2019 08:28

There's no spare stock. 16% retail is still very low. It could gap up at some stage.

[jeanesy] 14/10/2019 08:23

Very muted response so far. I would have expected this to break out beyond 90p today.

[ironstorm] 14/10/2019 08:01

Great statement.

Love this part

We are very excited about the prospectivity of these anomalies. They
each exhibit geophysical signatures substantially better than anything
else we have encountered around the Sao Chico deposit,

As it is now without Coringa it’s fantastic value. Ramp intended 🤫

[borisjohnsonshair] 14/10/2019 07:42

I'm encouraged by the substantial increase from Q2. Q1 to Q2 dropped but Q3 has increased and very slightly exceeded Q1. Very nice. Every month, quarter and ounce of stability keeps us on track for the MASSIVE days ahead when Coringa is producing. People are impatient but if Palito remains constant and enhanced by ore sorter up til Coringa production the MCAP is simply madness. A PE of circa 1. Tooo much fear priced in as the risk is very small - in fact nothing realistic is potentially in our way.

[qs99] 14/10/2019 07:16

Let's hope this kicks it on further and some upgrades? DYOR

[jeanesy] 14/10/2019 07:09

Fantastic results :)

[qs99] 14/10/2019 07:07

Lovely update IMO....GLA

[sherry35] 14/10/2019 01:13

loganair - I'm prettey sure MH mentioned bringing in a major due to the complexity of the Cinderella complex. I think it's in the prior video.

[jeanesy] 13/10/2019 11:54

Just listening to the interview. Its very long but very positive. Ore sorter now on site and should be in production in dec/jan. A 10k increase in production for the year at very little cost :)

[loganair] 13/10/2019 10:38

sherry35 - MH said that the two mines are too small for a major and is why the Coringa mine was sold to SRB in the first place.

[borisjohnsonshair] 13/10/2019 06:42

I was wondering the time frame for updates on these exploration targets? Are we days, weeks or months away?

[sherry35] 13/10/2019 03:00

loganair - Thank you for the summation on the interview. Any mention of a buy-in from a major in drilling some of the Sao Chico and Cinderella hot spots?

[kennyp52] 11/10/2019 09:27

Lots of positivity in here which is great but not being reflected in the share price ? Bought a few more but spreads has been prohibitive when you buy something for 87.2 for it be immediately devalued to 85.7 plus dealing then IMO it holds back investing in such a share . Might be a start of me building a decent pot in this based on the posts here from people I respect .

[borisjohnsonshair] 10/10/2019 13:30

Lots of bad England there

[borisjohnsonshair] 10/10/2019 13:22

Yep - too good to be true. Things usually aren't but I can't spot the problem!!! I'd like more than 16% in "retail" hands. I still consider this an issue. With a massive undervaluation I actually consider their a case to dilute, even thought debt is generally considered much better. I think that's me being impatient though. I want ACTION

[ppvn] 10/10/2019 12:56

Hey bomber, great post as ever and does hit the nail on the head.

It isn't imo ridiculous to think this share price could get to a fiver in a couple of years. This one is definitely the share I'm most excited by, despite it doing the least (for the past couple of months anyway!).

[bomber13] 10/10/2019 12:29

Absolutely excellent interview , it ticked all the boxes in my view .

I thought Mike's point on Coringa was particularly well-made . The consultants modelled their assumptions on the Palito experience , allowing nothing for the greater widths of the vein systems at Coringa , therefore the scope for mechanisation , and allowing nothing for the potential benefit of an ore-sorter . Notwithstanding these factors , they also applied a 20% contingency not only to the initial US$25m of capital required , but also to the US$850 per oz assumption for AISC .

If the ore sorter is as successful at Palito as Serabi think it will be , we should surely be shooting for 50/-oz of production next year at AISC below US$1000 , which would equate to free cash flow of at least US$25m at a gold price of US$1500 , i.e more than enough to offset any Sprott loan taken out for getting Coringa up and running .

All being well on permitting , timing , ore sorter , capital raising , and mechanisation , then the blended AISC for Palito and Coringa could well fall to US$900 or below two years out , releasing US$50m-US$60m of annual free cash flow at a US$1500 gold price .

Market cap today is a little over US$60m , and Cinderella hasn't even come to the ball as yet !!

[borisjohnsonshair] 10/10/2019 11:39

That not their decision. It's a reporting rule. Their costs are far more predictable as the operation at Coringa is identical. They'll not need the contingency but one has to be included.

[loganair] 10/10/2019 11:21

I like how SRB have put in a 20% contingency in all their planning.

[borisjohnsonshair] 10/10/2019 10:31

Very humble. One could say not gunho enough however he gets away with it by sounding sincere and honest. If there was a transcript of the interview it would sound guarded and like some bad news was possible however I didn't get that impression from his tone. Basically sounded like the business is in very safe hands

[ppvn] 10/10/2019 10:24

Hi bojo,

No disagreement from me. I personally think gold will be much higher than $1,450 in two years (would be surprising to me if it's under $2k at that time) so 55mm FCF seems very conservative and achievable.

[loganair] 10/10/2019 10:13

MH seems quite down to earth and realistic about the prospects for SRB, not way over the top as many CEOs of junior miners tend to be.

[borisjohnsonshair] 10/10/2019 10:09

Anybody agree / disagree with this?

[loganair] 10/10/2019 10:09

Unlike other CEOs of junior miners, I liked how MH was not too overly enthusiastic and doesn't say "World Class Recourse" as often other CEOs say about their resource.

[borisjohnsonshair] 10/10/2019 09:14

Yep. In 2 years at AISC US$900 and 100,000 ounces, say US$1,450 = US$55M / year FCF. However - many predicting US$1,900, 3,000 ...... if much of world reverts to gold standard 10,000!!!