Serabi Gold Share Discussion Threads

[alangriffbang] 11/2/2020 15:25

Thank you very much ,happy birthday to you ,I am 81 years old but stopped counting a while back ,

[millwallfan] 11/2/2020 15:02

Alan. Sorry meant to add that there are under 60 million shares in issue so stock can be illiquid and thus greater price fluctuations on news

[millwallfan] 11/2/2020 14:47

Hi Alan. Just back from a birthday lunch - 64 today !! I only hold 20,000 here at just over 50p. I picked it up from a tip on another bulletin board so did some research and the potential looked solid - so pleased I did given our trials and tribulations with Griffin and Sirius lol. I don’t post much as I don’t have much knowledge to contribute but I visit regularly and very much appreciate the information and views of a number of posters here. Looking at all the available info I do believe this has the potential to deliver some 200% capital growth if everything goes to plan over the next 2-3 years and they reach 100,000 oz with exciting further adjacent potential resources. Plus, if gold does reach the dizzy highs some analysts are predicting then it could be BOOM.

[borisjohnsonshair] 11/2/2020 13:08

https://en.m.wikipedia.org/wiki/Millwall_Bushwackers

[cotton4] 11/2/2020 13:04

Bushwacker?

[borisjohnsonshair] 11/2/2020 13:01

No thanks to me, Bushwacker?

[cotton4] 11/2/2020 12:55

Can anyone buy any quantity online?
By the way tightfist and PPVN, I am considering attending the GM as well.

[alangriffbang] 11/2/2020 12:34

Nice to hear you millwallfan ,I’m thinking of buying a chunk in here but keep hesitating ,what is your take on it ,

[millwallfan] 11/2/2020 12:26

PPVN and Tightfist. Thank you for your continued comments and updates. If you do attend please both provide your individual perspectives of the ,eating.

[tightfist] 11/2/2020 12:07

My Broker needs to be speedy too......

[ppvn] 11/2/2020 11:03

Volume seems to be picking up here which is good. Some larger sizes going through too.

I'll request an attendance card tightfist. Let's see if my broker can get it sorted in time...

[tightfist] 11/2/2020 10:31

Hi Bomber, thanks, we see things similarly. One additional aspect is that SC ore is optically different. There are lots of possible reasons why they are now going to look at it sooner rather than later - eg one wonders if Comex commissioning engineers are still on-site and taking the opportunity?.Cheers, tightfistPS: is anyone else intending going to the GM in London on 26th Feb?

[borisjohnsonshair] 11/2/2020 10:23

Bomber - spot on. A great detailed summary of what I've been saying. The FCF in 2 years is awesome considering today's MCAP.

[cotton4] 11/2/2020 10:22

Lets hope the lights come on on the christmas tree

[bomber13] 11/2/2020 10:19

Hi there Sherry , all , my post yesterday was based on what was said then against what had been said before .

Given Mike and Clive are two very safe pairs of hands , I do think it is significant when they start to steer us subtly one way or the other . In yesterday's case the steering was to an annualised production of OVER 50000 oz from the Palito complex after only a few weeks of commissioning the ore sorter .

If you take 40000 oz pa as the base case for the Palito complex , and recognise that their 2020 guidance of 45000/46000 oz included only 9 months of ore sorter , then this new steering is most definitely an upgraded expectation . The ore sorter is clearly working extremely well on ore from the Palito mine otherwise they would not be so keen to test Sao Chico's ore through it already , and in the next 6 weeks ?

Development ore as opposed to stope ore is by its very nature likely to include much more waste rock , and , given the freeing up of plant capacity that the ore sorter is achieving , Serabi will have to step up its development rate underground , as we witnessed last quarter .

What happens to AISC is the million dollar question . Mike's new mantra is " Tonnes cost and grade pays " , which he has mentioned many times now , therefore the extra higher grade ounces achieved by the ore sorter will no doubt more than offset the extra cost of development , and cost of operation . My own guess is that we will see AISC slip below US$1000 at Palito , and when Coringa comes in two years out at AISC of US$852 as per its PEA , then we will get a blended AISC around US$950 .

Let's also not forget that Coringa's mill feed is very similar to Palito's , and no doubt Serabi will be testing a Coringa bulk sample through its ore sorter in the next 3/6 months . This should carry similar upside expectations to Coringa's PEA production of 38000 oz pa .

The net of all this is that , with finance now in place , we should hopefully have 3 mines doing 100/- oz pa at AISC of US$950 or less within 2 years and throwing off cash of US$60m at current gold prices . And this outlook is before we take into account any organic growth at the Sao Chico mine itself , the 3 satellite prospects 2 km away , and Cinderella to the SW , all of which have much bigger geophysical signatures .

[tightfist] 11/2/2020 10:17

Hi Sherry,.Yes, an excellent OS video - one wonders if it is going to be used elsewhere for promotion?.I have to say that I am now not totally clear on the differing sources of ore, whether it be Stope Ore or Development Waste - from Palito or SC - or Tailings! IIRC Tailings processing will need to taper-off in H2..Judging by the latest grades the recent grade at SC has been higher, (although there is reference to revisiting the Palito G3 vein which is wider) but it bears the added cost of trucking to the process plant...From yesterday's RNS:."The focus has been on passing low grade Palito development ore through the ore sorter, which by its nature is the plant feed that contains most waste rock and is therefore consuming vital plant capacity that could be otherwise used to treat other higher-grade stope ore"..One is left to wonder about how the test ore was gathered from the verges of the veins and what percentage this usually represents of previously unsorted RoM feed? And how/if this will be segregated in future within the mining process. (IIRC It's failure on this latter point that closed the historic Palito operation). More questions, I am afraid!..The RNS continues:."Trials will continue over the next six weeks, including test work on ore from the Sao Chico deposit, which has, to date, not been subject to such intensive testing as the Palito ore.".I knew that the SC ore would be more challenging to sort and maybe utilise different spectrum. Clearly ore requires crushing and washing, prior to sorting. IMO the capex for these facilities plus a second OS is considerable - my guess is that all ore processing will remain at Palito until the future location/extent of operations in/around SC is better understood. After that, maybe the world is our lobster!.BTW, the RNS and brr video on 6th Jan included some info regarding the start-up of drilling of the western "geophysical anomalies". This started in early December and is planned to be suspended every two months for processing of results......!..Onwards and Upwards?, tightfist

[loganair] 11/2/2020 10:12

6,809BRLs was a recod high close in the price of gold in local BRLs.

[tiger60] 11/2/2020 09:53

90p to buy atm

FYI - Just in case anyone here trades through Barclays there is known issue with the update of current share prices that they are working on. The reported SRB price is currently stuck on end of day 9th Feb across all portfolios

[borisjohnsonshair] 11/2/2020 09:18

The market is actually 86.5 to 90.5.

[kennyp52] 11/2/2020 08:58

AIM for you I suppose. True value will get reflected at some stage even if it takes some predatory interest like over at CEY .

[borisjohnsonshair] 11/2/2020 08:52

I don't know buddy. Markets and people are daft. Patience is all that's needed. Maybe it will still have a MCAP of GBP50M when it has FCF of GBP42M a year in late 2021!!!! I doubt that.

[kennyp52] 11/2/2020 08:49

Why has it fallen back to 84.50p sell then Boris ? What’s needed ?

[borisjohnsonshair] 11/2/2020 08:39

The beauty of this baby is not only the awesome, almost risk free, huge increase in output forecast but the added bonus that any day they can announce news of a massive new discovery. Their future and 3,4,5 ..... fold increase in price is inevitable but this could be dwarfed by the potential scale of their exploration potential. Any day now we could get great news.