Serabi Gold Share Discussion Threads

[trader536] 22/10/2020 13:13

You were warned about this ole dog 😂😂😂

“trader53620 Oct '20 - 15:03 - 7447 of 7450
Q3 delay suggests MH is busy putting lipstick on the pig”

[golden prospect] 22/10/2020 12:43

BJH: yes, a modest 8000oz target, though i imagine they would like to see above that with the ore sorter in use to high grade the results! Now that would be a great January bonus.

[tightfist] 22/10/2020 12:41

And they started Q4 with a low ore stockpile which they need to rebuild by manning more mining faces - and either achieve better RoM grades - or have the ore flow to bring the Ore Sorter back on-stream - or both. It will all take a little time.

[borisjohnsonshair] 22/10/2020 12:34

At the start of Q3 there were no new personnel - so 65%. He reported in Q2 that they hoped for 100% by the end. Clearly the ramp up was slow and not utilised fully. Clearly not fully operational at the start of Q4, hence forecast. If I was MH I'd be conservative with Q4 forecast after missing Q3. If they can approach 8,000, they'll utilise the ore sorter so hopefully beat this modest forecast.

[swanvesta] 22/10/2020 12:24

Surely if the full workforce were back he'd be expecting better than 8000oz in Q4? Or is there some other problem? MH didn't sound too impressed with drilling to date, but obviously keen to find better grades.

[golden prospect] 22/10/2020 10:46

The CRUX interview gives a great explanation for Serabi, so MV2 you miss nothing apart from fickle investors that have caused share price weakness. Market gives them a chance for closure and will subsequently reprice accordingly for those with appetite.

Serabi Gold (SRB, SBI) - More Cash than Ever and Drilling Starts Again

[king suarez] 22/10/2020 10:45

Had a listen to the Crux interview - good stuff. MH is very transparent about the current situation and also the future prospects - this is well positioned.

[montyville2] 22/10/2020 10:39

What am I missing from the update this morning that causes such a big drop?

[cotton4] 22/10/2020 10:10

Even with a disappointing qtr, SRB remains substantially undervalued. Generating $4m+ of cash with their poorest production qtr is indicative of what can be generated on an annual basis.

[king suarez] 22/10/2020 09:53

Well, timed my top up a couple of days ago badly! Oh well, should be well in profit by this time next year I suspect..

[kennyp52] 22/10/2020 09:51

When they actually give us a decent quarter then I am confident it will take off . Good luck all . Buying opportunity so just added

[borisjohnsonshair] 22/10/2020 09:14

Yes - I listened. Totally agree. The achievements in 2020 are incredible. 2021 should be a game changer. I'd be totally shocked if this isn't higher than 200p within 12 months.

[golden prospect] 22/10/2020 09:11

If folk bother to listen to the CRUX interview then they will hear them say credible results given the circumstances of reduced workforce and not being able to cherry pick for grades due to lower piles. Going forward the full workforce is back, the gold is still there to be mined, better selling prices on offer going forward, heaps of cash, Coringa being paid off. Bodes very well for 2021 and should be a star investment.

[borisjohnsonshair] 22/10/2020 09:07

Don't forget that even if Palito didn't step up in 2021, say 35,000, Coringa will double output and many shared administrative costs. The FCF will be awesome. Plus the exploration. MH mebtioned in the Crux interview this morning the expectation for the new, still ready areas are huge for an operation the size of SRB. So another bigger leap than Coringa. Plus we have the mega open pit mine potential. 2025 - US$1B! Hold me to it.

[borisjohnsonshair] 22/10/2020 09:03

I'm agreeing with you - total respect. I believe however the management doing a good job but the markets / people are impatient. I'm impressed with the tight control of Covid, the stability and the way forward. Maybe newbies won't jump on board just yet, so we wait. I expect exciting exploration news before year end. We'd not want to miss that.

[tightfist] 22/10/2020 09:03

Hi Kenny, SRB are usually a process-limited operation so ore sorting is attractive - a few ounces within the tailings is no big deal. Since March they have become a mine-limited operation so every conceivable ounce needs to be recovered in the process plant. They are now looking forward to normality when the ore sorter can once again add substantial value..MH went to considerable lengths to explain the temporary Q3 mining inflexibility which resulted in uncharacteristically poor RoM grade. I was more concerned about the 2021 guidance statement which seems intended for a feel-good factor whilst avoiding any hard numbers..Cheers, tightfist

[kennyp52] 22/10/2020 08:59

That’s the point Boris . It’s redundant . Look ... we both know what is coming so we can be relaxed . But for new investors to come in and drive the share price we need some serious production and I see no 2021 guidance ; no comments as to how they are going to work round Covid ... just an acceptance of .. ah well ... Covid is the problem and we accept it . This virus could be around for years to come mate. Investors have been enticed in on the license etc. going to be transformational ... we have the license & new tenements. We now need production and the board need to provide solutions not excuses .

[borisjohnsonshair] 22/10/2020 08:48

The ore sorter isn't needing used as they aren't at capacity. It would just waste fuel

[kennyp52] 22/10/2020 08:47

Boris ... whilst I respect your view why are other similar miners still hitting production targets ? Is the company managing the situation as well as they could be ? You cannot say this quarter is a success ?? In fact .. no it isn’t .. the share price is off 11%. Give them an easy ride on this result and we risk another few quarters of below par production and a slide in the share price . I will just have to stay long for the jam . You seriously cannot be happy with this quarter Boris ? We don’t know how long this POG bull is going to run and need to be knocking out as much production as possible. No ore sorter in use ... which was going to provide us with a substantial uplift . I understand the production can be uplifted enormously , the grades are currently low .... so we could get some very good quarters to come ... but if Covid is around for years to come the whole world has to learn to work through it and I do wonder if SRB are being proactive enough . If they keep using Covid as the excuse then what if COVID keeps running at the same levels in Brazil for another year or so ? This is my issue .

[kennyp52] 22/10/2020 08:32

You are right melody .. but this is now a consistent slide in production for several quarters on the trot now , the market makers will focus on that and they need to get their fingers out and get back to work . The outlook is good . Ore sorted not even being utilised . Low grade stockpiles being used to feed the plant . Jam tomorrow by the looks of it but very frustrating . Buying opportunity all said and done.

Cannot get a quote for even 2,500 shares

[borisjohnsonshair] 22/10/2020 08:29

Kenny - the 40,000 guidance was for the year. Covid reduces the workforce by 35%. S mine closure was a concern initially. This year is a remarkable success. New bargain acquisitions, cleared debt, continued to produce and make cash, paid off most of Coringa by year end, exploration started and looking super promising. Criticising this year in the circumstances isn't appropriate. I'd take this position if given the chance in February!!!

[melody9999] 22/10/2020 08:28

Record cash flow $4M in Q. Now have $11M cash. 'Modest production - great cash flow'
The production dip is just a COVID related blip in the road. Looks good to me going forward.

[kennyp52] 22/10/2020 08:26

Small shortfall ? It’s way off 2020 guidance now . It’s $5m off the 10k ounces per quarter minimum target at $1900 POG . So yet another miner suffering low production whilst gold is flying . Need to get their finger out .

[borisjohnsonshair] 22/10/2020 08:21

Stay cool BUY and it'll catch up