Serabi Gold Share Discussion Threads

[swanvesta] 08/4/2021 00:22

tightfist, re earlier sacking I can't find details at the moment. Hopefully I just got some wires crossed.

[backinblack80] 08/4/2021 00:09

John Meyer commenting on the intersections "astonishingly good stuff"
Hopefully there's much more to come..this looks like it is going to be huge!

[novicetrade68] 07/4/2021 23:48

Yes, agreed, all those drilling results should add hopefully to higher production numbers, seems they've really found a good number of prospects + the below reads pretty promising for the future;

''Hole 010 is the current highlight, where a
drilled width totalling 70 metres of alteration was cut, within which
multiple high-grade intersections including 9.68 g/t Au over 7.0 metres,
26.24 g/t Au over 1.40 metres and 258.24 g/t Au over 7.15 metres
including 519.45 g/t Au over 3.55 metres were recorded.''

[tightfist] 07/4/2021 22:54

What a missed opportunity! None of the last 12 posts mention/analyse today's great drilling results at Toucano...... looks like the Canadians are more outward-looking......

[tightfist] 07/4/2021 18:49

Hi PPVN, Thanks for the deeper information and that there are more stages (handshakes?) in the process flow - and possibly more opportunity for mischief? This suggests that we need to be poised/senstised to company announcements over the next months. Fingers crossed!.Cheers, tightfist

[ppvn] 07/4/2021 16:44

Hi Tightfist,

As I understand it, the gold is captured in carbon and then bagged at the Palito plant and then exported to a refiner, presumably in Brazil for extraction and concentration into solid metals. I don't think they do that at Palito purely since they talk in their reports as "bags of concentrate".

Their end customer is indeed in Japan but my guess would be that they measure the expected yield at Palito from their measurements and then the refiner confirms this when its been extracted from the carbon. Hopefully we'll have some further clarity on this soon.

[cotton4] 07/4/2021 16:27

23% up in Canada

[imastu pidgitaswell] 07/4/2021 16:04

kenny - I was also an auditor (big 4) for a painful 3 years before qualifying and moving on. I was bloody awful at it, yet still qualified as a chartered accountant - which tells you a lot about the profession... I do indeed know what they do (and don't do) - but am far from shocked. I do know that it hasn't got any better, meeting a series of trainees over the past 28 or so years since qualifying...

Note that the audit work on the cash documentation (or lack of) refers to Quarter 1. Presumably they would have looked at later quarters as well before now - but found nothing.

Anyway, 65p after buying at 60.5 yesterday. It was 6th time lucky...

[tightfist] 07/4/2021 16:00

I agree with you, there must be some industry protocols to verify the gold shipments at both ends (Palito and Japan - correct PPVN?). Weight, Sampling, Assay, Analysis Error Bands, etcAnd avoid any "leakage" along the way....... What is the historical "local overseer" sacking you refer to?.It seems we can only watch and wait! tightfist

[swanvesta] 07/4/2021 13:56

Hi tightfist. Yes, no conclusions right now, just seems to me $970k of gold is rather more of a concern than $80k of cash. Particularly when oversight is difficult (covid, etc) and we know at least one local overseer was sacked not so long ago.

[borisjohnsonshair] 07/4/2021 09:19

It's where the gold is, not in Sheffield unfortunately!!!

[volsung] 07/4/2021 09:17

Don’t mine in the Amazon

[tightfist] 07/4/2021 09:16

Hi SV; Not sure it's a shortfall - more of a variance at the moment? We need to await more Co investigations and communications before we can form a researched view IMO .....

[swanvesta] 07/4/2021 08:48

What happened with the $970k shortfall? Could that be fraud as well?

[borisjohnsonshair] 07/4/2021 08:05

Here's an incredible amount of gold on our land!!!!!

[borisjohnsonshair] 07/4/2021 08:04

Pls explain?

[plat hunter] 07/4/2021 08:04

That's the thing, it really does make you question everything else.15 mill in the bank profitable and excellent drilling results practically every quarter. I've never thought that a BOD should go so much before now.Zero credibility is creating an opportunity for some it seems.

[338] 07/4/2021 07:49

Is this intersection news also another accounting error... 😁

[cotton4] 07/4/2021 07:43

The audit issues may be a blessing in disguise, allowing management to get the necessary controls in place and possibly clear out any bad apples.

[plat hunter] 07/4/2021 07:40

Boris I think you read what you want to see and clearly talking your own book, either out of desperation or just being a snide Yesterdays RNS created more questions than it delivered answers.

[imastu pidgitaswell] 07/4/2021 07:39

Not if you loaded up yesterday, it’s not 🤓

I’m out all day so hope to come back to a nice price rise - but if I don’t it will be at some point. Fundamentals always win out.

Speculating but maybe they hoped to get the accounts signed and have no suspension and then release this but events overtook them. Or maybe it’s deliberate and they’re a bit bent

[ppvn] 07/4/2021 07:35

These are stunning results and really very promising for the justification of further expansion of plant at Sao Chico.

Just a shame about the debacle with the accounting and I do wonder if that will somewhat overshadow this. Extremely frustrating this issue arose.