Serabi Gold Share Discussion Threads

[borisjohnsonshair] 04/9/2020 08:59

Things very quiet as we simply hope production slowly increasing but that's it, until License news. Seems we are going to remain stupidly under valued for a while longer. Q3 results being good, another US$6M in the bank and Covid clearing more will get more interest.

[borisjohnsonshair] 03/9/2020 20:40

Ha - 480 is an average holding of 20k. 4,800, is 2,000. You choose.

[sherry35] 03/9/2020 20:36

BJH - Which number should I be using? 480 holders (people) vs. 4800 people.

[sherry35] 03/9/2020 20:28

cyberbub - In response to your post #450, they could put an identical ore sorter at Coringa because the geology is identical. The scavenged ore can be shipped to the Palito mill. The caveat being the Coringa mine is approx. 210 km from Palito and Sao Chico is approx. 25 km. Which begs the question can you sort the Sao Chico ore before trucking to the Palito mill? The answer to that question was to be pursued by the ore sorter vendor. The outcome is unknown.

[sherry35] 03/9/2020 20:12

cyberbub - Has the mgmt. team ever returned one of my phone calls or emails? Nope. I've left 5 voice mails on the CEOs phone over the past 3 years - no response. Got more information from one of the services company. Retail investors in the colonies are treated poorly.

Why can't the mgmt. team have quarterly financial AUDIO CALLS like other TSX listed companies? Perhaps time to file a compliant with the TSX Compliancy Group. I have AMEX front of line service with the lads. Is the mgmt. team afraid the investors are going to ask difficult questions.

MND.TSX is on track to produce 100oz Au eq. this year. They are drilling the Youle load underground and performing the first wedge off already drilled ~1200m hole. Yes, deep hole drilling. They're doing shallow drilling on the Browns Reef. Yet, the SRB executive team shuts down drilling and the ore sorter in a country that's producing HCQ.

Even if they formalize the plan and get funding, the deliverables will continue to come in late. This mode of operation has been well established over the years. The institutions (Mark Sawyer, Greenstone, SRB Non-Executive Director) and directors need to restructure the executive team with veteran miners. Perhaps bring a former executive that worked for the farm-in suitor. If the suitor is AA, hire a former or present executive from AA. We need swift execution while Au is poised to run over the next two years.

With most of the mill components onb the Coringa site, why can't the plant be commissioned in 6 months? What resources would it take do it in 6 months?

Again, "What's the plan?". Simple question.

[trader536] 03/9/2020 20:10

SRB needs to be 300p to equal the performance of GRL.....


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[borisjohnsonshair] 03/9/2020 18:50

I'm not sure criticism is fully fair. They are steady as she goes in tough times. Coringa license delay is due to the authorities being lazy at home. The thing that bugged me the most was the time it took for us to become aware of Q1 mech issues.

[cyberbub] 03/9/2020 17:07

Sherry have you contacted the management team to express your (perfectly reasonable) concern?

[cyberbub] 03/9/2020 16:57

If the company decide to relocate the Coringa plant to Chico as some suggested recently, what will they use to produce gold at Coringa. If another new plant, will that mean more funds needed?

[sherry35] 03/9/2020 16:10

BJH - Welcome to the glacier pace of the executive team. Took an extra year to commission the ore sorter only to have it put in C&M during C19. Perhaps the BOD and institutions are observing the same thing. It's time for someone to drive the development in a more progressive manner. We need a CEO (or COO) with experience in growing a this company to mid tier Au producer. Someone with experience and traction in Brazil.

My fear in debt financing is the executive team will do a 3 year Au hedge in addition to the loan interest payment. This happened in 1Q20 to MND at hedge price of $1650 US an oz. Unbelievable with 2019 market indicators screaming recession.

"What's the plan?" in the form of Gantt chart. I'll be surprised to see one by year end.

[sherry35] 03/9/2020 16:00

BJH - LEAVE SLEEPING DOGS LIE!!!!!

[trader536] 03/9/2020 15:58

“BorisJohnsonsHair3 Sep '20 - 15:30 - 7266 of 7268
You are merely highlighting how fantastic it will be when Covid over”

Covid could be around for many years muppet.

[tiger60] 03/9/2020 15:57

You say that but continually answer his posts and talk about him/her

[borisjohnsonshair] 03/9/2020 15:55

Cyber - this thread. We are sick of T365

[borisjohnsonshair] 03/9/2020 15:31

Yes 38,000 ounces from Coringa

[cyberbub] 03/9/2020 15:00

Er... Will Coringa really bring an extra 38K Oz per year, if (as some suggested recently) the plant on site might be dismantled and hauled over to the El Chico?? What's going to process the ore at Coringa - a new plant? How much will that cost.

[trader536] 03/9/2020 14:42

Drilling suspended and how long will that dodgy ore sorter last

[trader536] 03/9/2020 14:39

AISC going thro the roof cos of Covid in Brazil

[trader536] 03/9/2020 14:19

Operating costs have increased by about 16% due to additional infrastructure and transportation costs.

Countries with the highest level of disruption were Brazil, Canada, Chile, South Africa, and the United States.