Serabi Gold Share Discussion Threads

[trader536] 12/5/2021 13:09

Dream on my good friend:

"Brazil’s Amazonas state braces for another COVID surge
Health officials in the Brazilian Amazon, still reeling from health system collapse, fear a third wave is on the way"

[borisjohnsonshair] 12/5/2021 12:59

Spot on my friend but 2p spread won't seem an issue when we've risen to 500p. Don't split hairs and dive in.

[trader536] 12/5/2021 12:08

Good morning Boris my good friend, are you still waiting for the suspension RNS, or have you freed up capital to make gains elsewhere before it gets locked in here??

woof woof 🐶🐶

[linton5] 12/5/2021 10:53

I’d sit tight here major buy signals on gdx and gdjx I want more srb but shocking spread kills it

[oapknob1] 12/5/2021 08:29

Which two Boris ?

[borisjohnsonshair] 12/5/2021 08:25

Two major backers have patience. They'll be after £5

[bad gateway] 12/5/2021 08:19

Positive start to the day again today though. Seems to be trying to establish the 50dsma as support.

[kennyp52] 12/5/2021 08:12

90p seems a long way off . Decent drilling results having no impact . Takeover probably the only way out now with the way this is being run .

[trader536] 11/5/2021 11:13

Suspension followed by delisting??

[borisjohnsonshair] 11/5/2021 10:59

Well said - here here.

[tiger60] 11/5/2021 10:07

'The surface DD' drilling results were not great but at lower depths great grades for Mogno lobe in particular.

The financial irregularities rumble on back as far as 2015. Therefore we must question the due diligence of the accountants and their responsibilities in terms of the sign off. Again we are talking relatively small sums of cash of 200K (plus I expect false expense claims) but it is the time period that raises concerns. I think we can infer the 2 managers that have been suspended are therefore long term employees. It is disappointing that this has gone on so long without being picked up. In fact as mentioned before the cost of the legal and forensic accountants will be higher than the sums taken. I don't expect the cash to be recovered even if the managers prove to be the culprits

The issue now for the share price is twofold. One the reputational damage and question marks over the CFO and secondly until the accounts are published there is a risk however minimal that post 30th June the company could be suspended. Now I don't think that will happen but rather like option expiry dates as we move forward each day the % risk changes. It is dynamic and however unpalatable to consider it remains a burden.

Lastly, ideally we wanted the accounts out and behind us. The revenue for qtr 3 will be adjusted down by 800K and the low production combined with the extra costs documented for Qtr 4 will be detrimental to the final figures and therefore the ratios credit analysts use to measure the health of the company. But this is a given and hopefully factored in.

Qtr2 production should see a considerable increase in production over qtr 1 (deemed a 'short' quarter in Brazil and we were still increasing the optionality that is so crucial to processing the higher grades) and although stockpiles are running thin there should be enough throughput to not only overcome this but to lead us to expect a RNS in June/July stating the Ore Sorter is back in play which will be a genuine reason to celebrate.

Also in July we will hopefully 'break rock' at Coringa again a landmark occasion for the company.

So get the accounts out asap and move on, build credibility by hitting milestones, get production up over 10,000 a qtr for H2 and constantly provide expo updates. Firming up the resources will take time but barring any more hiccups true value should be seen H2 not any earlier

[borisjohnsonshair] 11/5/2021 08:26

This is a nonsense fog that's making the masses unable to see the stupidity of the MCAP. Soon it will clear and the price will rocket. The markets often present incredible opportunities but rarely this good. This is worth pounds not pence and it will rocket soon.

[ppvn] 11/5/2021 08:16

Agreed. Although the price is lower at open I'm viewing the audit issues as coming to a close and the sums involved are thankfully not too significant. At least if anything its a pricey reminder that the C-Suite need to have better controls in place and if that's what it's cost to teach the lesson than so be it.

The exploration results are excellent - particuarly the length and to a degree the depth of the deposits imv. Everywhere they seem to drill is kicking out these brilliant results and I'm very hopeful for the future resource updates.

[linton5] 11/5/2021 07:59

The rats are oot the woodwork let the company flourish now cracking grades let’s get the show on the road,I’m ready to take more

[borisjohnsonshair] 11/5/2021 07:58

Stupid comment. Why would the stolen money be used to fudge drill results - idiot

[imastu pidgitaswell] 11/5/2021 07:56

Just poor oversight. It's not a new loss, the money had already gone - just for nefarious purposes rather than adding any value.

Ever the optimist, their costs should be lower in future...


;-)