Serabi Gold Share Discussion Threads

[sherry35] 11/2/2020 01:48

tightfist - With this newly created excess capacity in the remainder of the mill (i.e. post ore sorter), where do you see SRB/SBI future expansion on the Palito complex? Please incorporate SC ore sorting into your response.

[sherry35] 11/2/2020 01:37

tightfist,Tiger, Loganair, Bomber, Boris - SRB/SBI posted a new video today. The topic is the ore sorter. I watched it three times. Truly an amazing high quality video - beautiful shots of the surrounding area and detail information on the ore sorting process.

To answer part of my inquiry, SC would require a crusher and ore cleaner in addition to the ore sorter. If the SC ore can be sorted in a similar manner to the Palito ore, this could be major game changer. The Cinderella lode could tip the scales on a second plant.

To close... drum roll...DRILL THE PERMITS! Go directional drilling, with geophysics, to depth.

[tightfist] 10/2/2020 18:52

Hi Tiger, Loganair, Bomber, Sherry;I have just been able to catch-up with this morning's RNS - impressive and IMO again confirms we are in a relatively safe pair of MH hands!It would be very interesting to undertake a second-pass of the Waste through the OS and see if the 0.5g/t material could be recategorised upwards? Or at least understand more about the OS efficacy.A few aspects to add: The company? seems to provide frequent fine-tuning to the broker and in this instance, according to Stockopedia, at sometime between 26/01 and 01/02, the analyst reduced eps growth from 125% to 75%, and YoY Revenue increase forecast has been reduced from 20.6% to 16.4%. My hunch is that this arises from the Ore Sorter on-line timing assumption having been slipped-back by two months; it seems the ultimate annualised results are anticipated as increasingly favourable?Of course, this does not quite drop to the bottom line! The OS needs to be operated and depreciated, and incremental replacement ore has to be mined......As far as I am aware the costs/benefits of Coringa will be held on the Balance Sheet until Commercial Production is declared (my current guess would be 01/01/2022?), so AISC will not reflect the Coringa Mine/process plant until CP - other interpretations welcome!IIRC the Ore Sorter has been specified/built with both Colour and X-Ray sorting but was set-up by Comex in Poland only on imported Palito ore and only one sorting technology capability. Comex were then to come on-site to commission as-shipped and SRB were then to later experiment with sorting SC milled ore which is different in appearance and more challenging - IIRC that was the plan?One has to be careful - whilst the company may now include SC within the "Palito complex", mine-mill transportation costs and ore sorting capability are certainly different, as are future development prospects?Cheers, tightfist

[ppvn] 10/2/2020 17:50

Hey Sherry, think the case of the missing RNS' has struck again. Announcement this am can be found under the "news" section at the top of this page.

Re. Sao Chico ore, as I understand it (and i may well be wrong here), from what i remember the Palito ore was amenable to sorting as the equipment they have on site is B&W, given that the quartz vein the Palito ore is found in is white and the waste rock is not. Sao Chico as I understand will require a colour scanner, but think where I got this from was an interview with Mike some time ago.

Regardless, good to see the positive news today and enthused for the future of Coringa.

[sherry35] 10/2/2020 16:56

bomber13 - Based on your #5155 post, the Palito head grade at the mill has gone up 25% with the ore sorter operating for 9 months. Does this equate to an annual production increase of 13.3 AU Koz (33% increase)?

As for testing the SC ore, I mentioned a few months back about utilizing a ore sorter at the SC mine site to reduce haulage costs. Ignoring the infrastructure (water, hydro) and tailing facility to support this, I'm not sure of the costs and benefits of pre-processing the SC ore prior to haulage to Palito.

Thank you for sharing the news. Made my day.

[borisjohnsonshair] 10/2/2020 13:42

I wouldn't....

[borisjohnsonshair] 10/2/2020 13:42

I would focus on share price but it's easier with MCAP. 90,000 ounces with AISC $900. With super low PE of 4 you have US$324M. We have the investor dilution of 17% subject to exchange rate, let's call it 20%, so US$260M pro-rata existing retail and institutional holders. Equals £200M. Current MCAP is £50M (@81p), so share price equivalent is 320p.

[borisjohnsonshair] 10/2/2020 12:53

I mean 90,000 ounces / year.

[qs99] 10/2/2020 11:33

Surprised this is not north of £1....happy to hold and v. good RNS IMO

[borisjohnsonshair] 10/2/2020 10:15

90,000 is a when not if. MCAP. A fraction of what it will be. Just time.

[catsick] 10/2/2020 10:09

The gold loss is not such a big deal if they are capacity constrained and there is only .5g /ton going into the tailings vs 5g ton going into the plant, they can still stockpile and heapleach the tailings if gold goes to the moon.....

[cotton4] 10/2/2020 10:07

Given the good relations Serabi have locally and the comments re the recent meeting, I would imagine that Coringa will be rubber stamped.
MH in his interviews was always confident re the ore sorter and initial results is confirming this.
That leaves the current exploration activity. When the results of the arial reults, according to MH lit up like a ''christmas tree'', then it I expect only positives from
the ongoing exploration.
As for price, we have already touched 90p so it is only a matter of time before that is exceeded. The only negative for me is the cost of the finance.

[cotton4] 10/2/2020 09:53

I don't think the penny hasn't dropped yet as to how huge an RNS this is.

[chipperfrd] 10/2/2020 09:34

Ore sorter trial reduced feed by 85% with a loss of 35% of contained gold compared to historic recovery losses of c. 7.4%.

Quite an impressive gain achieved in capacity by reducing ore feed by such a significant amount. Hopefully they can improve on the gold loss of 35%.

[kennyp52] 10/2/2020 09:10

Enough here to move it up and beyond 90p imho

[ironstorm] 10/2/2020 08:47

Excellent news here. Very happy. Underpins this and next years numbers.

And further out for Coringa.

Our major investors are going to do very well.

[bomber13] 10/2/2020 08:12

Not only has the public hearing at Coringa gone well , and Serabi is optimistic of receiving that all important permit within 2 months , but the commissioning of the ore sorter at Palito seems to be going very well indeed . Well enough in fact for our CEO to make the forecast of over 50000 oz of annualised gold production from the Palito complex . This is an upgrade from previous guidance of 45/- to 46/- oz for 2020 versus 40/- oz in 2019 , and includes only 9 months of the ore sorter’s benefit .

On a pro rata basis is he not effectively saying that the ore sorter is worth an increase of over 2500 oz of gold output per quarter from Palito ? He has also stated that Serabi will try the ore sorter’s efficacy on Sao Chico ore , which is something that he had previously said would not work .

All of the above should hopefully have a dramatic effect on AISC , for which no official guidance has yet been given . The latest published AISC cost figure was US$1078 per oz for Q3 2019 . One would hope that a possible 25% increase in gold production should bring AISC nicely below US$1000 per oz ?

With finance for Coringa now in place , and the permit pending , it seems to be all systems go for 100/- oz pa of gold production from Serabi .

[borisjohnsonshair] 10/2/2020 08:10

Thanks. I'll take a look.

[alangriffbang] 10/2/2020 08:00

Boris read the shanta board this morning , lots going on catching everybody by surprise including me ,

[alangriffbang] 10/2/2020 07:57

No problem Boris ,I am going to buy more here and some shanta , and greatland gold but want to watch it carefully to get he best price , I’ve had many gold shares over the years and it’s always a rough ride ,

[borisjohnsonshair] 10/2/2020 07:15

All fine and dandy update on licensing and ore sorter. Without Coringa 50,000 / year forecast. FCF US$25M a year. Stupid MCAP

[borisjohnsonshair] 10/2/2020 06:56

My comment not aimed at you. I was suggesting Tradingstock247 is very similar to Trader365

[loganair] 09/2/2020 23:36

k52 - That is why most of the Revenue from the increase in mined Gold goes straight down to the bottom line as profit which in turn = a lower overall AISC for all gold mined.

In other words the AISC for the first 40,000oz gold mined remains the same with the extra 4,000oz mined coming in a virtually no AISC which = a lower overall ASIC for all gold mined.

[kennyp52] 09/2/2020 23:24

AISC falls with increased production ....