Serabi Gold Share Discussion Threads

[ppvn] 26/5/2021 15:05

I agree tightfist. A 50% rise from here imv would be a good start and I'd also be surprised if that isn't the sort of place we are at by Aug - although a further rise in the pog could see a little more?

Wrt selling and moving on OAP - I'm still of the view that serabi are sitting on a huge deposit and that there is a long way for this to run. Know I'm moaning at the moment but with our current situation think a bit of reflection is well warranted! Plus my initial shares here were bought in 2016 @ 5.11p so there is a little way to go yet for me to be in profit there!

[tightfist] 26/5/2021 14:30

For the moment just a perky PoG and imminent breaking of an SRB Resistance level.I would be more impressed by a 50% rise..... there are several prospective RNS's that IMHO in aggregate could deliver that by August; tightfist

[oapknob1] 26/5/2021 13:54

You could always take your profit just now and move on to bigger and better.

[ppvn] 26/5/2021 12:47

Hopefully the news of accounts will take us a bit beyond a £56mm market cap. Sorry to sound like a downer but a 5% move isn't frankly cutting it for me!

[rachael777] 26/5/2021 12:38

is news finally coming on the accounts ? price seems too perky lol!

[ppvn] 26/5/2021 11:30

Hey tightfist!

Yes indeed; unfortunately because there isn't much else to point the finger at currently you're right the directors do get the blame. But failures to sign off $80k of cash withdrawals seems like a valid criticism to me and I hope this has shaken them out of their seeming slumber. As others have pointed out, this year in particular it seems a bit rich to allow that sort of thing to happen with no senior checks or balances. Cash is always a question mark in any business and there should be much greater scrutiny on it imv, and that includes at the very top!

Anyway what's done is done and I hope they can elaborate on what they are doing about it soon - and I hope that puts the top of the BOD on the hook for any screw ups going forward.

They can mention all they want to me now - it's concrete results I'm going to be looking for. They are making strides in the right direction but the time for talk has now passed! They have everything they wanted as we've discussed before and now is the time for things to be delivered!!

[tightfist] 26/5/2021 10:55

Hi PPVN, I also foresee the current situation will in hindsight will become a NADIR, when the execs understandably become the target of our frustrations, along with a moribund share price...... For inspiration look back at Summer 2019 when patience ran out, Kingsman/Anker and Garraway ran for the door, and the 30p opportunity that created......If we really need to offload our ire, I would be tempted to enquire in the direction of Roney Almeida, the Brasilian SRB COO for the last three years and understand more about his accountabilities. He maybe his finger should be on the local pulse?.BTW I think they briefly mentioned recently bringing in a drilling rig from Australia, which suggests how tight the equipment market has become? Take a look at the 3-month share price of Capital Ltd......DYOR! Cheers, tightfist

[cotton4] 26/5/2021 09:27

In business, everything is financial. Need the accounts.

[ppvn] 26/5/2021 09:22

The last time I felt this frustrated here the share price dipped below 30p before rocketing to 80 or 90p in the space of a month or two.

I'm of the view that once the audit is finally signed off in print that with a bit of luck a similar thing should happen; with the stellar drill results coming in and hopefully them beating their modest guidance coupled with the POG it wouldn't be a surprise.

Just galling that seemingly everyone here is singing from the same songsheet yet no movement yet.

[cotton4] 26/5/2021 09:04

Sadly an employee died because company procedures were not followed. Cash went walk about for the same reason. Management can put as many controls in place but if they are not adhered to, usually losses ensue. I do concede that having senior management on site is as good a control as any.

[trader536] 26/5/2021 09:00

Wow gold at $1909, all gold stocks are up sharply on open

[trader536] 26/5/2021 08:59

BorisJohnsonsHair26 May '21 - 08:50 - 2922 of 2922
COVID

There was no covid in 2007, they failed to deliver then, what's your excuse for that failure.

MH and CL's definition of success: Going from failure to failure without loss of enthusiasm

[tiger60] 26/5/2021 08:57

Maybe we would not be in our current position with a different CFO!

Maybe we could get honest communications - where is the 5th drill? What is the guidance for the year? What is the guidance for Qtr2? How many development metres are we targeting for the year? etc

[cotton4] 26/5/2021 08:55

I hardly think the share price has stood still for years. Range form sub 30p to plus 110p.
As for salaries they are nothing new. They have also been open about waiting for exploration results before committing to new infrastructure. Under the circumstances, I fail to see what a change of management would have done.

[tiger60] 26/5/2021 08:48

To be fair Boris you have been saying it’s undervalued for years and the share price has stood still. We all believe it is undervalued or we would not be here but there comes a point when we have to accept moving from one excuse to the next seems to be the norm. How do we break the cycle. For me it’s new senior management or a joint venture

[kennyp52] 26/5/2021 08:40

The problem here as I see it is the high salary and no shares . Why would they be that bothered about the share price when they have not got their own money in play ? Why is MH and his sidekick worth huge salaries for not delivering production . The company reported years ago they were targeting 80k-100k production ... now it’s low 30s .. need a change but the major shareholders are their pals aren’t they ? Either way it’s time they started delivering on production . Where are the transformational RNS’s ?

[borisjohnsonshair] 26/5/2021 08:31

? - fair point but don't equate the zero impact the exploration has on MCAP as money wasted. It's building a resource. The value will come eventually. It would have already if it wasn't for the issues effecting market confidence- Covid, leading to reduced production, slower Coringa approvals and hands in the till, hence audit delay. As soon as the ship is steadied - people will pile in as this is WAY WAY WAY under valued.

[trader536] 26/5/2021 08:18

The muppets running SRB weren't smart enough to capitalise on the 2007 four year bull run in gold, the price went from $650 to $2000 but the SRB market cap remained static.

The same thing is happening in this gold bull run.

Failure after failure, and directors rewarding themselves with millions in the process

SRB won't go anywhere because the market has no confidence with these muppets at the helm, they both need to go, simple as.

Woof woof 🐶🐶

[tiger60] 26/5/2021 08:17

Frustrating is an understatement with gold at $1905.

I have some questions on the development metres. As called out the original target was 32,000, then 30,000 and then high twenties. Can someone confirm development metres was 3570 for Qtr1? I understand we are getting a new drill in June and they are predicting 3,5000 metres a month from that point but how does this step change occur with the addition of one drill? That also leads me to ask what happened to the fifth drill promised by MH at the start of the year?

They always seem to be shifting the goalposts.

Also I know the answer to this question but I am going to put it out there to see the responses. We are spending $5m on exploration (with the recent results adding nothing to the mkt cap). What is the end game? If it is to exploit ourselves we will need new infrastructure, plant, funding and critically a lot of time.

There is only one feasible path as I see it. Honestly coming to the end of my patience here due to continual contradictions and increasing level of disparity between the rhetoric and achievements.

[trader536] 26/5/2021 06:07

Morning Boris my mate, I suppose you're in the park now taking the Mrs for her daily dump.

When you get back wash your hands and check out the gold price above $1900

SRB holders will again miss out on the daily action

Shame the management here are such muppets

Woof woof 🐶🐶

[ppvn] 25/5/2021 21:18

Gold now nudging $1900. As long as the BOD can sort out this audit serabi should be going places in the near future.

Like watching paint dry at the moment it's got very frustrating.

[trader536] 25/5/2021 13:58

I understand that you've been suckered with years of lies, you haven't even made enough to fill the Lada with 2 star, while the directors have bought farms, made millions and made fools of investors such as you.

Woof woof 🐶🐶