Serabi Gold Share Discussion Threads

[golden prospect] 16/7/2021 09:15

Optionality coming into play and balance sheet strengthening.

No one will be surprised if in Q4 they decide to upgrade the palito complex in readiness for open pit - plenty of signals on this matter.

I imagine interims ending June 2021 will be released at the same time as Y/E 2020 a/c's, guess 16th august (LY Friday 14th Aug).



18th June
"Cash balance at end June 2021 projected to be in excess of US$17.25 million."

15th July
"Cash balances at end of June 2021 were US$18.1 million with all debt obligations now repaid. Cash was higher than initially forecast partly because of higher gold sales in June than originally projected"

[ironstorm] 16/7/2021 08:56

A better update. Need to keep a close eye on the slippery MH to see the delivery.

But am more optimistic than I have been in a long while.

BTW, historically, the "robust" performance is really just in line with there better performances over the many years I have been in here.

But with PoG, currently work schedule etc this price is very very cheap.

[borisjohnsonshair] 16/7/2021 08:42

Awaiting the audit release is a lost opportunity to make 50% in 4 weeks. This will rise to 100p when out then 200p over the course of the rest of 2021.

[cotton4] 16/7/2021 08:25

Pleasing update yesterday with production ahead of budget and especially grades increasing. Coringa licencing on final leg and exploration roaring forward with additional rig. MH, in normal optimistic manner, has taken short term targets as given, but given the share price does not reflect current operations, the team needs to keep an eye on the here and now. Give that cash is king, the healthy cash balance is a real positive. The point that I take out of the video was that he intends to go back to Brazil early August. To oversee the start up at Coringa? and or to kcik butt of these forensic auditors so that we can get a set of accounts as promised in August. It has already been stated that there will be no material adjustment to earlier periods and there is no black hole in the accounts, so the results for the half year should be a substantial improvement on 2020 given the pog and the exchange rate. No doubt several are waiting for the results before they invest in SRB. Given the low sp, they can afford to wait knowing there will be further upside after the release of the accounts.

[ppvn] 15/7/2021 15:40

Hi tightfist,

Yes... I say worryingly positive purely because it sounds so good that I could see this becoming the new ore sorter (or longer!). But from the interview it certainly sounded as though first results were expected H2 of this year which could prove interesting in the short term.

Let's hope Coringa starts dumping cash on us when it comes online and then Ahab may be able to finance the search for his white whale accordingly. And hopefully with a more favourable outcome!

Cheers

[tightfist] 15/7/2021 15:09

Hi PPVN,"Worryingly Positive" is an interesting term - it struck me about the enormity of the opportunity area, 30km x 5km - and some better RAB technology is required to rapidly matrix drill the shallow saprolite and later focus the drilling of the underlying bedrock..The brr video has some different sound bites; at 06:49 MH again mentions the potential upscaling of Palito processing..I do not disagree at this stage about pursuing these opportunities in-house, though on-time delivery will be continuously under the spotlight and Mathew Gordon briefly queried the SRB skill-set. However, we shareholders would need to arm ourselves with copious patience if all these opportunities are to come to fruition?.Cheers, tightfist

[ppvn] 15/7/2021 14:40

Hi Tightfist,

Have just watched the crux interview and it is sounding worryingly positive; particuarly the last section you noted. I'm actually very pleased they are looking to tackle their major anomaly themselves - whilst a partner could prove some immediate uplift in value if they can take a deeper look at what is actually there it will be more beneficial to us long suffering shareholders eventually imo.

Overall I'm pleased with this fresh development - particuarly the RAB rig and the possibilities that could bring. Let's hope the market takes the same view soon!

Cheers!

[kennyp52] 15/7/2021 12:46

You need to buy some more shares Boris .

[golden prospect] 15/7/2021 10:18

15th July 2021
Crux Interview


15th July 2021
BRR Media

[borisjohnsonshair] 15/7/2021 09:31

Still bloody stuck !!!! 10p lower than placing. Ridiculous.

[francisthornhill] 15/7/2021 09:05

Great to see progress and stability. There lots of potential here in my view. It's about time....

[borisjohnsonshair] 15/7/2021 08:33

Silly price. It would be silly at 150p.

[tiger60] 15/7/2021 08:29

Seriously? Talk about digging a hole. Anyway a blue day.....

[imnotspartacus] 15/7/2021 08:28

Excellent RNS lets have a nibble.

[catsick] 15/7/2021 08:22

Yes , looks pretty decent they now basically have the cash in the bank to pretty much fund the new coringa mine so get to 80k oz production with no debt

[kennyp52] 15/7/2021 08:15

Topped up on this RNS . Lot of under stated information in there imho .

[golden prospect] 15/7/2021 08:15

Off topic

T60, there was nothing in the reporting timetable to suggest 15th for Q2.
Some may wonder how you came about the 15th, an insider to information ?


Q2 23 JUL 2020,
Q2 22 JUL 2019,
Q2 23 JUL 2018,
Q2 26 JUL 2017,
Q2 18 JUL 2016,
Q2 28 JUL 2015.

[aimsurfer] 15/7/2021 08:02

Last two minutes of the CRUX interview very important, open pit development opportunity on existing licenses will be game changing to ounces produced and cost of production.

[tiger60] 15/7/2021 08:01

Apology GP?

Also buried in the text is confirmation the fourth drill is on site. Grades getting better and strong balance sheet should drive this higher but the whole gold sector has been hit with a rotation out whilst gold continues to recover up passed $1825 - go figure! It will change.

[kennyp52] 15/7/2021 07:57

Total ore mined during the quarter of 43,051 tonnes at 7.12 grammes per tonne ("g/t") of gold, a 27 per cent improvement in grade compared to the 2020 average.39,976 tonnes of run of mine ("ROM") ore were processed through the plant from the combined Palito and São Chico orebodies, with an average grade of 7.32 g/t of gold, a 17 per cent and 39 per cent improvement on Q1 2021 and Q4 2020 respectively

3,000 extra tonnes than processed with grade of over 7g adds to the picture .

[golden prospect] 15/7/2021 07:43

Q2 beating expectations...

"Cash balances at end of June 2021 were US$18.1 million with all debt obligations now repaid. Cash was higher than initially forecast partly because of higher gold sales in June than originally projected."

15th July 2021

[rogerbridge] 15/7/2021 07:41

Undervalued.