Serabi Gold Share Discussion Threads

[kennyp52] 27/2/2020 20:42

Lol .. I banged 50% of the ladyboys with a 100% rise from my double dose viagra ...

[borisjohnsonshair] 27/2/2020 16:36

No you didn't.

[trader365] 27/2/2020 14:21

Look at your last two posts muppet...

"Goldman Sachs and PayPal saying Corona gunna have big impact"

"Why 5% drop"

Duhh!

[borisjohnsonshair] 27/2/2020 12:30

Why 5% drop. Ah well, who cares - £3 quid in 21 months time.

[borisjohnsonshair] 27/2/2020 12:28

Steady on SRB!!!

[tightfist] 27/2/2020 11:44

Hi PPVN, Cotton4,Good to meet you yesterday and briefly chew the cud, maybe more at the time of the AGM in June, even a few beers together!.Thanks for your notes - fully agreed, plus a few additional impressions I came away with:.Flow through the Ore Sorter of 5m/s, 40tph was mentioned, supplier still on-site, 2nd team training now progressing. Long established technology in associated fields..CL inferred that first SC extension drilling results remain on-schedule for the next fortnight (per December RNS) although remaining overall enthusiastic, I came away again with a sense of progressive slowly-slowly-catchy-monkey approach. .He mentioned the public-domain Brazilian press were even more positive about expectations arising from the 6th February public meeting..I have becoming increasingly aware that SRB cooperate/track even more than I had previously realised with the Garimperos; they are/were well established in the identified exploration areas around SC..I would highlight the 22nd Jan statement (just above "Current Trading") that "The Company intends to raise debt funding". CL seemed thoughtful about the prospective high cost of debt, so maybe not to be anticipated as a Slam Dunk solution?.MH referred to the impending resource update (in the CRUX interview?), I don't recall it being mentioned yesterday. The potential Majors involvement remains, especially the human resources? (Thought: This may become an alternative source of up-front cash?).Interesting aspect PPVN raised regarding Depreciation Charge versus Balance Sheet movements; I got a similar impression from CL that may be some AISC reduction possibility here? (Q: Hypothetically, if there were to be a disproportionate increase in Mineral Resources, presumably there would be a reduced Depreciation Charge on ore extracted?).IMO I have come away with a comfortable impression, tightfist

[ppvn] 27/2/2020 10:16

Most welcome all, like I say the meeting was largely a formality but was very nice to meet Clive and was kind of him to entertain our questions. He left a good impression with me for one.

[kennyp52] 27/2/2020 09:39

I love you Boris ...its trader365 I can’t stand 🤣

PPVN thanks for taking the time to post and inform the board . All this market turmoil will hopefully settle down in the next few months and we can get back to share price reflecting true values .

[borisjohnsonshair] 27/2/2020 09:12

Quality addition. You are as pointless here as in real life.

[borisjohnsonshair] 27/2/2020 09:04

Do you mean guarded optimism or guarded certainty as he's not permitted to make such statements prior to formalities.

[cotton4] 27/2/2020 08:38

I think that we can take Coringa as a given. There was a guarded optimism expressed at yesterdays meeting. We just need to be patient.

[borisjohnsonshair] 27/2/2020 08:26

Plane sailing to £3 and to top it all Trader365 won't be on board.

[borisjohnsonshair] 27/2/2020 08:15

Funding in place for 100,000 ounces. Only barrier between 50,000 and 100,000 is Coringa license due in next 20 trading days. News on resource to potential 250,000-500,000 within next two weeks.

[borisjohnsonshair] 27/2/2020 07:07

Great feedback - thanks. BIG BIG exploration results within 2 weeks. Path to 500,000 ounces.

[new_scally] 27/2/2020 05:41

BJH

I see you are still as unpopular as ever. Are you still living in that bedsit in Huddersfield and driving the same Lada car?

[sherry35] 27/2/2020 04:57

Thank you PPVN for detailing your discussion with Clive. DRILL THE PERMITS.

[jackjackpaul] 27/2/2020 00:19

NCYT huge huge news.. going to go mental tomm

Corona virus spreading like mad..

NCYT most accurate kits on market right now and CE approval.


NCYT Their website just been updated with the following
Chinese Flag(Top Left)
1. WHO. World health organisation... don't get any bigger then this.. cats out the bag
2. Pfizer
3. GSK
4. NHS
5. CDC
6. US Army

[ppvn] 26/2/2020 23:39

Hi all,

So whilst it's still fresh in my mind I thought I'd jot a couple of my thoughts down from today's meeting. It was in itself largely a formality given that Fratelli had supported the resolutions that Greenstone weren't eligible to vote on - but basically the voting was unanimous apart from around 170k shares that did not support them. Anyway as the RNS states they all passed comfortably.

Clive Line (Finance Director) chaired the meeting and kindly spared myself, Cotton4 and Tightfist some time after for an informal q&a; my personal impression was really positive and I think there is an increasing amount of excitement on many fronts. Mike is currently in Florida at a mining conference (BMO) and then they will both be heading to Toronto.

Anyway firstly the ore sorter - there is obvious excitement about the enhancement in yield this machine will deliver. Clive pointed out that it's basically a scanner on a belt so if anything were to go wrong with it it would be a replacement of that part (I.e. not the biggest issue). That's going to up production by around 20% overall by reducing waste rock in the process plant by around 100tpd. Q1 has no uplift built in as they have slated this quarter for calibration of the machine.
Secondly bojo - expectation of first results from the drilling is expected in the next couple of weeks. They are stepping out from the defined limits of Sao Chico to expand the resource and so each wave of results should increase the known resource there. I think there is an updated resource being done on the back of this drilling but I cant remember 100% if that was confirmed - one of the other attendees probably has a better recollection than me. After the drilling concluded at Sao Chico they will move onto the anomalies to the west, and then the Cindarella shear. The main anomaly that runs east west across the tenement is seemingly too large to deal with at the moment. I got the feeling they'd prefer a major to buy into the potential project and cover exploration costs for a certain %age of future yield as well as an upfront payment. I got the impression this was some way off, but with the POG where it is who knows. They have a preliminary mining license application in that would allow them to mine 50ktpa in the anomalies to the West of the Sao Chico mine - again Clive did mention but I can't remember if the cindarella shear was covered by this or not - my bad.
They are obviously really pleased with how the licensing of Coringa is going. Whilst the approvals process is slow, it sounds like all indications from those that make the final decisions are positive and I'd be very surprised if anything was to go wrong on that front.
Possible impact on amortisation and depreciation if Sao Chico resource base is expanded - more a balance sheet function. I.e. the amortisation would occur on a smaller %age basis per quarter if the resource was larger etc.
Wages set by Serabi (I'd wondered if the mining collective had input into this but no) - so the increase in BRL should be trickling into the numbers. 45% of costs are wages so possibly material.

What was also nice to hear is that from the sound of it, Serabi have been able to have a really positive impact on the local community. They've built a school so that kids arent having to move away to continue learning, they've rehabilitated the land previously contaminated by garimpero activities (I.e. toxic materials left behind from small scale mining), they engage with the local communities and indigenous tribes etc etc. It was nice to hear.

Anyway, I left feeling really positive about my investment here and was nice to hear the enthusiasm from Clive also. Thanks to Cotton4 and Tightfist for a nice afternoon and chat and apols had to dash without a few beers. Next time!