Serabi Gold Share Discussion Threads

[sherry35] 28/10/2020 14:28

tightfist - I believe one of the legacy posters correlated the trades to CLS share dumping back in the May and June. I'm pretty sure it was going into end of Q2 where cash was required for the Sprott Au loan and possible Coringa payment. So, if they were dumping shares back in May and June with share price at approx. 85p, why not at 100?? Isn't the CLS share strike price 70p?

Anyways, there was a specific marker or flag on the trades. I'm hoping the SRB poster takes a peak at the trades and lets us know.

[millwallfan] 28/10/2020 10:37

Given the general market volatility and today’s moves already this morning on the ftse lets be pleased the mms are not trying on more games with srb. I’m not sure there is any end in sight with direction of cv here and worldwide at the moment plus the major challenge a no deal Brexit will bring bring unless a miracle happens on either front very soon. Buckle yourself in for a very bumpy ride for the foreseeable!!!

[borisjohnsonshair] 28/10/2020 09:27

Nope - bored as said it all and now due to daft markets we wait longer for value.

[kennyp52] 28/10/2020 09:12

Boris you are quiet ? Took your profit on the slide ?

[tightfist] 28/10/2020 07:20

There may be some clues within the trades - but surely Greenstone (as a cornerstone investor) would surely have to pretty desperate to be selling around this level!?

[sherry35] 28/10/2020 03:24

Is thelatest down drafting of the share price attributed a CLS transaction? Somebody on this board correlated draw down on the CLS to shares hitting the market using some variable/attribute in the trade history. 1.5M shares have come out in the past 4 trading days. This smells like a draw down on the CLS.

[kennyp52] 27/10/2020 20:11

I’d rather be in your shoes Plat . Can cherry pick your entry . I got lucky buying these in the 50s but still feel hit hard when you consider we were moving nicely towards 120 .

[sherry35] 27/10/2020 19:04

SBI.TSX has fallen 17.7% since the $1.98 peak on Sept 16. We seem to lag here in the colonies.

[tiger60] 27/10/2020 14:23

Good post Tightfist. So open pit mining is more than a possibility but an expectation? And if on the resource scale you are suggesting then it seems to good to be true to pick up at the price we paid.

Whats the catch? And why is this not given more air time/detail from a PR perspective? Because it is this that will shift it into a different valuation

Now fallen 30% since peak of 117.5.

[tightfist] 27/10/2020 13:54

Hi Sherry, as part of their expansion SRB/SBI appointed a Brasilian national COO (Roney Almeida, RNS dated 20.09.2018) who undoubtedly has been coordinating efforts In-country whilst MH was confined to UK over the last 7 months. I'll leave you to take a remote view on his effectiveness during 2020 and COVID management. Personally I think they done well, so far, excepting the apparent "faces" glitch in August/September..The received wisdom is that the Tapajos has yielded 30M Oz of gold over recent decades. I have always been a bit sceptical but the scale of artisanal mining (eg the open pit of 20m x 40m depth, with a strike length of 1 km and some selected tailings at 14 g/t) has made it much more believable - a far different scale to simply panning in the downstream river bed! Who is to say what SRB will discover as they drill below and around those pits. More Serabi-style narrow veins or shallower open pit with sufficient quantifiable potential to attract a major? - we have to be patient and wait and see..By the way the Ore Sorter was brought on-line in March 2020 but taken off-line within weeks when the reduced RoM ore feed could be 100% accommodated by the process plant. I am eagerly awaiting confirmation that this temporary holding position has been unwound..The bottom line is that you either trust the management team, or not. A Gantt chart is all fine and dandy but only a very high level representation of what actually needs to be accomplished. I have hands-on managed a network of 6,000 activities - but only reported to senior management against seven milestone events. At the seventh milestone (typically after 40 months) my team were typically 5-10% over time - that track-record colours my judgement..Regarding the U.K. share price movement, I was reminded two days ago that the share price has just hit a 20% trailing stop level which undoubtedly has triggered some selling by TA followers - but is this actually a Sell or Buy signal.....?.Cheers, tightfist

[sherry35] 27/10/2020 13:51

tiger60 - I'm not disputing the situation for "SRB and shareholders will be rewarded" when global stimulus packages are engaged. However, what is SRB's plan to capitalize on this economic move? Can conservative MH put a plan together to increase company's net worth? Can MH accelerate the remaining licensing for Coringa? What will take to do that?

MH stated that Coringa is his number one priority on the latest Crux interview.

>>> WHAT IS THE ENTIRE PLAN TO COMMISSION THE MILL INTO PRODUCTION? <<<<br />
The Gnatt chart doesn't have this milestone. Not even a milestone for commissioning the ore sorter which is a no brainer. Clock starts now in getting the remaining permits by year end. 2 months is plenty of time. Time for the SRB executive team to "think in the absence of a box". It's a Latin America country for Pete's sake - do the math.

[tiger60] 27/10/2020 13:08

1000! Little things...

[borisjohnsonshair] 27/10/2020 12:53

So Palito alone should command US$140M MCAP

[tiger60] 27/10/2020 12:52

Yes that is a fair approximation (3.5m quarter 3 - pro rata 14m)

[ntv] 27/10/2020 12:16

looking at the last Q figures it seems to imply a positive cash flow of $12m per annum
is that correct?

[tiger60] 27/10/2020 10:32

Yep it is frustrating to make the right call on gold only to align to a company that fails to address the contradictory nature of their own announcements. However, the market has acted harshly in this case (as it often does).

I imagine we will stabilise in the 80s, maybe a slight bounce from here. MH needs to earn his pay.

[trader536] 27/10/2020 10:28

Look back at my previous charts, remember all the rotten names you called me when I forecast 60p? I was correct, and I'm correct again you clueless loser!

Did you notice how well FRES and GRL are doing? lol woof woof!

[borisjohnsonshair] 27/10/2020 09:59

Markets do silly things. Be brave when people are fearful. This is clearly stupid impatience.

[trader536] 27/10/2020 09:55

Woof woof!

You were warned about this dog, it was in the chart.

BEFORE....





AFTER.....

[bsg] 27/10/2020 09:55

Bit of a f-up really as gold nearly at all time high and this dropping like a stone.

[kennyp52] 27/10/2020 09:53

Desperately needs some good news to arrest this slide . The value is still there in fundamentals and the management , in these new H&S dominated world , need to change their mentality and mine gold . It’s as simple as that and maybe it’s time for a change at the top .

[bsg] 27/10/2020 09:33

Seems the market has got the hump with this for the moment.