Serabi Gold Share Discussion Threads

[borisjohnsonshair] 19/2/2020 06:59

Not relevant - go away

[sherry35] 18/2/2020 20:55

loganair - Looking good going into the 5:00 PM EST close. Did a intra-day test from above, and bounced up.

[loganair] 18/2/2020 20:18

The price of gold breaching the $1,600 per oz barrier and 6,981BRLs.

[tiger60] 18/2/2020 19:56

Election year is the only positive force for the us markets and a historically immense one but just so much against, interesting situation but this is close to breaking point

[trader365] 18/2/2020 19:48

Dow 6500 to almost 30000 in the biggest rally ever. People have been forecasting a crash since 2010, someday they will be correct, but not in an election year

[trader365] 18/2/2020 19:43

Trump will keep the markets up to bolster his re-election chances

[sherry35] 18/2/2020 19:35

So much for Obama's taking credit for the economic boom. I wonder if the "asked 68 economists" are some of Obama's Chicago buddies. The Trump put is still in play. The realization of the cornoavirus will occur in April/May with March quarterly financial reporting.

[trader365] 18/2/2020 19:19

Gold started rising long before the storm in the teacup happened!

How about this you helmet head...

[borisjohnsonshair] 18/2/2020 16:19

https://finance.yahoo.com/news/coronavirus-scare-pushes-gold-prices-151303057.htmlHow about that - Trader365

[paleje] 18/2/2020 16:08

tiger, remunerations quoted in USD I think, if so it makes quite a difference. Not saying it isn't still generous.

[tiger60] 18/2/2020 15:47

Gold nearly 1600

[ppvn] 18/2/2020 14:45

Ah, no think we are talking crossed wires.

My point is that we as shareholders have pretty good ownership representation on the non-exec board - both Fratelli and Greenstone sit on it.

I'm not of the view our BOD are particularly overpaid? I'd take ours over the usual muppets that spin a tale and throw shareholder money at problems...

[borisjohnsonshair] 18/2/2020 14:18

I don't know the split or whom - 2.14% - Page 27 of today's presentation.

[tiger60] 18/2/2020 14:09

Well if you cut their combined salaries down to the median then we would have a 7% boost to PAT. There is also *2m odd share options held by interested parties.

In 2018 the Non Execs were getting just over 300K and that is not an onerous task based on the meeting schedule provided.

Total USD1.263M

*Under IRFS2 there is a charge for holding the options which is considered part of the renumeration

[ppvn] 18/2/2020 14:09

Non-execs?

[borisjohnsonshair] 18/2/2020 13:33

I'm fine with their salaries but would like to see them buy some stock. They don't own much between them and other Directors. 2.6%?? Not tremendous skin in the game.

[tiger60] 18/2/2020 13:28

Would of thought based on the price of Gold alone this would've shot up. But it is not on the radar of most PI investors, and not the highest on the list for those looking for a gold producer...but it should be!

To counter those that were saying MH was conservative in his outlook and forecasts one only has to look back at the Dec 2018 accounts to see a forecast of 45,000 oz for 2019 and 100,000 for 2020. I do think there are some with a longer memory that might be hesitate to jump back in and maybe that is factored into the price. My personal gripe is between the CEO and CFO they are taking over 800K alone out of the company..based on historical numbers thats more than a bit cheeky.

Anyway based on what I know today this looks to be my first choice (even though GGP jumped from around 2p to 5p in a matter of weeks - power of the crowd)

Note on presentation: 'Coringa production forecast for end of 2021' (later than I thought based on previous info)

Edit: Can anyone confirm the estimated costs (quote presentation slide 6)

'Expect to confirm full funding package for Coringa before end 2020 to finance plant assembly and other site infrastructure.'

In my ignorance I wasn't aware further funding beyond that to be provided by Greenstone was necessary. I presume the current funding is for the acquisition whereas further funding is for capex. Just need to know the source of the funding. Ideally self financed from cashflow but with no idea of costs it is something I would like more detail on if anyone has it. Thanks

[bomber13] 18/2/2020 10:20

I think PPVN is spot on .

The Palito mine is currently 1km out of a 4km anomaly , Sao Chico is surrounded by far bigger geophysical signatures than the mine itself , and look at what Serabi is already saying about Coringa . There , they are hugely confident of resource growth from the end of 2021 onwards .

I believe this is the first time that Serabi has put a figure on the ore sorter's benefit to AISC , and a $30 per oz reduction in AISC sounds typically conservative given the planned 20% uplift to production .

It is good to be reminded that Coringa's plant , which Serabi owns but cannot construct until permits are received , is a whopper , and , at current grades , could easily cope with substantially more than 38/- oz pa of gold production . Moreover , let us not forget that Coringa's PEA was significantly risked with a 20% contingency within the assumed US$852 per oz AISC .

The comment about mining majors seeking larger scale opportunities in the region definitely implies that interest from perhaps RTZ and Anglos has not gone away , and it is probably to do with the fascinatingly large 18 km geophysical anomaly between Sao Chico and Palito ?

Do not miss page 25 within the appendix of the presentation , it graphically shows how undervalued we are . A few good hits with the exploratory drill-bit and I think the stock market will have to wake up Serabi's massive organic growth potential .

[loganair] 18/2/2020 09:48

Yet again yesterdays closing price of gold closed at an all time high of 6,843BRLs and currently at 6,875BRLs.

[borisjohnsonshair] 18/2/2020 09:17

Good grounding message - I do get carried away.

[ppvn] 18/2/2020 09:17

I still think the anomalies have the potential for the most transformation of the share price

Noted the bullet in the presentation "interest from majors seeking large scale opportunities" with interest.

The company as a standalone is really very compelling imo; as everyone has said - the ore sorter, the growth at Coringa, the exploration at Sao chico and Palito to extend the LOM as well as resource base - but what if they are about to find the "big one"?

Pleased to be invested here and looking forward to the rest of the year.

[cotton4] 18/2/2020 09:16

As for the pog, we have interest rate cuts from China. Malaysia looking to cut. And in light of the Coronavirus it would be no surprise for other central banks to cut as well to support failing economies. All IMO supportive of gold.

[cotton4] 18/2/2020 09:13

The last thing you want is to be over a barrel with bankers/financiers. Although I agree with BJH regarding the future price of this share as things stand at the moment we don't have the Coringha licence, explorations results have not yet provided extra LOM and we are still awaiting outcome on the ore sorter. I truely believe that these are all short term issues and will be resolved but from a bankers point of view the risks are there. Of the outstanding items I view the ore sorter as the most critical, which should give us visibility for 2020, followed by the exploration. Coringha can be delayed until reasonable funding can be provided. As for the current funding, that should be more than manageable for SRB given we are potentially looking at an extra 6000 ounces this year at approx $600 per ounce. Patience of course is the name of the game and a trust in MH's ability to deliver.