Serabi Gold Share Discussion Threads

[imastu pidgitaswell] 09/6/2021 20:57

Not too much higher though - look back at H1 2020:

-- Cash Cost for the year to date of US$961 per ounce.

-- All-In Sustaining Cost for the year to date of US$1,265 per ounce.

YTD gold price c$1,820 (from a visual look at a ytd chart)

It's the cash cost that is the closest to the P&L cost (which includes depreciation); the AISC is after everything including capex.


12 months on re costs - I don't know, but FX effects will be favourable (the local currency will have depreciated against the US$), with a contra effect of some cost inflation. I don't think much higher, and probably lower.

Certainly significant positive cashflow. Not really the key issue, whether the cash generation is a $1m or so higher or lower.

[tiger60] 09/6/2021 19:52

I hope so.

50% costs? No chance

[golden prospect] 09/6/2021 19:25

t60, you worry too much, especially given it's low volume 129K

On accounts, IASGAW makes very fair observations.

At the end of March 2021 we Know cash balance was $20.5m and $3.6m o/s debt.

In Q2, forecast cashflow IN = 9,000oz say at $1825 gives $16.4m, guess 50% costs

Printing money.

[tiger60] 09/6/2021 18:14

Well something smells off here. The share trades were not reflective of your average PI. Constant 1,000 sells interspersed with higher amounts. Wasn’t watching carefully today but obviously whilst the published price remains above the offer it will continue to fall. Manipulation but to what end or on what news. Hopefully just worries regarding the accounts but with still limited corporate investors - can’t see the driver - but not PIs.

We don’t fully know the content of the accounts. The write off of the debt associated with the regional authorities is an unknown as is qtr 4 costs (which we have been warned are on the high side) also have to readjust for qtr3 revenue due to assay differentials

Bring in a respected figure with a track record of delivery. Just look at the chart above and reconcile that against the aim of creating shareholder value.

[trader536] 09/6/2021 16:50

65p to sell now boris, Jackanory Gold down 35% year to date

50p at of month suspension??

[imastu pidgitaswell] 09/6/2021 16:24

Erm, no.

The accounts, er, account for what happened in the 12 months to 31st December.

We know what happened - we know the production, the costs, the cashflow and the cash position. And we know of significant change since then, including more cashflow and a placing. The accounts, when they do bloody appear, are the past.

We do indeed need the accounts, for obvious regulatory and compliance reasons - but not because of hope or ambition. They just report on the past.

[plat hunter] 09/6/2021 16:14

Fundamentals are derived from the accounts, anything outside of the accounts is merely hope or ambition.No accounts, no fundamentals

[borisjohnsonshair] 09/6/2021 09:54

Typical market opportunity. Amusing to see the madness of markets, ignoring fundamentals. Printing money at the moment.

[trader536] 09/6/2021 09:46

Boris my good mate - do you reckon these will go to 50p before getting suspended indefinitely while the directors relax at home indefinitely??

I think the fall will accelerate as we approach end of month 👍

[golden prospect] 09/6/2021 09:34

There appears to be a low fishing exercise, may be to trip stops

Perhaps those that are long (and with holdings) should set sells at 500p to mess up any free allocation calculation!

[borisjohnsonshair] 09/6/2021 09:23

Yeah maybe. Who cares. This needs blowing over and doesn't effect the business value in 2023.

[tiger60] 09/6/2021 09:02

Boris that 2,000 sell was a buy! 67 to buy yet again going down further.

[borisjohnsonshair] 09/6/2021 08:35

Correction - can't buy many

[borisjohnsonshair] 09/6/2021 08:34

Chill Tiger - dropping after 2k sell as market weak. This is due to Covid delays, site accident and petty theft. Fundamentals looking awesome. You can buy many at the moment so wait to see what happens when the risk clouds lift - it could jump 50% in a flash. Time to buy as these drops are how experienced traders make money - the scared, impatient and stupid sell at the most opportune time to buy.

[trader536] 09/6/2021 08:29

Ho dear boris! This dog is down again as the predicted selling continues!

66p to sell now

Woof woof 🐶🐶

[tiger60] 09/6/2021 08:23

Tightfist, thanks for your reply but this also predates just the issue with the accounts. The share price performance has lagged peers for awhile and as stated before it therefore comes down to differences in intangibles - like management and goodwill.

[tightfist] 08/6/2021 18:45

Hi tiger, thanks for your thoughts. My assumption is that we are simply experiencing the usual Stockmarket distaste for uncertainty with the share price being progressively marked-down accordingly. IMO MH/CL/NB will ensure the accounts are released very ASAP, in the meantime the share price will wallow whilst some less patient or more risk-averse holders decide to position their capital elsewhere..I would usually be interested in the high volume, but it looks as though 86% of today's volume was an opportunistic Bed & ISA or similar, taking advantage of the suppressed sp?.Cheers, tightfist

[tiger60] 08/6/2021 14:52

We can't complain about the number of RNS releases and follow up interviews etc but ultimately rather than providing clarity and confidence it seems to have provided a muddled and often contradictory message

I am hoping the fall is due solely to the ongoing issue with the financials and nothing more sinister (but the fall in the share price from 92 to 75 leading up to the placing was sad to see for any holder and a concern). Without access to Qtr 1 financials it is hard to extrapolate estimations further into the year. Very keen to see AISC costs which at 8,000 production should remain high but hoping for 9,000 qtr 2 and associated fall in AISC. Qtr3 and 4 should be circa 10,000.

What they are failing to do is translate all of their expo and development efforts into confidence that this is a business going places. And with gold on their side and positive cashflow that seems to be a hard message to mess up.

They need to regroup and reassess their communications and strategy to go it alone. Looking back this has underperformed for a while in terms of the share price and with the placing there can be no complaints as to cash restricting ambition. So it is now or never. I wonder what Miton are thinking but SRB need to reinvigorate the market with a believe that the path to success is solid and not too far down the line.

[golden prospect] 08/6/2021 14:21

A near 10% discount to recent 75p placing

[bsg] 08/6/2021 14:01

GP most of that was a roll over.

[tiger60] 08/6/2021 14:00

67.69 to buy! FFS

[trader536] 08/6/2021 13:49

The Muppet Show: Dr Teeth - "Money"

[golden prospect] 08/6/2021 13:31

Volume pickup to 325k, highest daily for months