Serabi Gold Share Discussion Threads

[ironstorm] 30/9/2021 18:39

I agree massively undervalued. Has always been this seen I first invested. I think we suffering a management discount. You are right this company does what t does despite current management.

We need to be careful these two are not still making excuses in a years time for not delivering. They seem to be expert in it.

Looking forward surely there is too much goodness here for them to get in the way of?

[borisjohnsonshair] 30/9/2021 15:15

150p for productive mines. 300p with Coringa (in production but at the moment zero value is given fir it's asset value), plus exploration success (which could make the two rest a side show!!).

[glasswala] 30/9/2021 14:58

At least 2pound plus gor fair value

[borisjohnsonshair] 30/9/2021 14:38

Long way to go

[king suarez] 30/9/2021 14:06

Finally, she climbs the first stair back towards fair value..

[borisjohnsonshair] 30/9/2021 13:40

Cant buy any

[borisjohnsonshair] 30/9/2021 11:33

Yes - which mean the price is stupid.

[cotton4] 30/9/2021 11:29

Still looking at $16m profit before tax for 2021, using $1700 for Q3 and $1750 for Q4.
Reckon the price of gold will improve into the year end given that real interest rates are still negative.

[plat hunter] 30/9/2021 10:13

You're right Sleeven, there's lots of undervalued profitable gold producers around atm. None of them perfect and all for different reasons but dropping a ball is often an opportunity to show your shareholders/bosses how you cope/deal with it.Good luck to all of you sticking with this BOD and project however it's no longer one that I am remotely interested in.

[ironstorm] 30/9/2021 10:09

If you are always in the moment - how do you learn lessons of the past (like continued non-delivery).

Never mind, Coringa please!

[golden prospect] 30/9/2021 10:07

Long may the deep thoughts continue as it makes for a balanced thread.

I'm most displeased with how the recent accounting matters have been announced.

[sleveen] 30/9/2021 10:01

Some posters need mindfulness classes, too much ruminating on past events.

[ironstorm] 30/9/2021 09:18

Surprised the RNS was issued by the CFO!

Looks like he is going nowhere.

Probably get a massive bonus for finding the fraud.

Top line results have been saved by the prioce of gold. Gold production is around the same level is has almost always been.

We need Coringa and quickly otherwise we will hit another down mark as the operations hit their periodic slowdowns.

OTher developments look too far away.

All eyes now on Coringa!

[cotton4] 30/9/2021 09:15

Not withstanding the cash issues and the late accounts, a certain amount of credit ought to be given for keeping the operation going during a pandemic. The aisc will drop as production increases. the Coringa licence is now key from a production aspect.
In the meantime we have the exploration program with any associated resource upgrade,
Q3 production figures and Q3 financials. I admit it will take time for the wounds to heal but the fundamentals are still strong and there is much to look forward to. Despite all the negatives being expressed, we have started the year with a strong set of financials with cash to achieve our near term objectives.

[plat hunter] 30/9/2021 09:13

Not this was never said on here before.

[imastu pidgitaswell] 30/9/2021 09:07

Last time I'll mention the 'misappropriation' (for now) - Watched that video - an appalling act of self-serving drivel.

The comments on the $1.7m going missing - never mind the failure to disclose the true position through various RNSs until Monday, it was if it was nothing to do with him, or he had no responsibility for allowing it to happen.

Unbelievable.

[imastu pidgitaswell] 30/9/2021 09:03

But that is a consequence of the production being lower than planned, rather than costs being higher.

Sort the production out - high income, similar costs, lower AISC. It's that simple.

[loganair] 30/9/2021 08:58

2 years ago Serabi said the new ore sorter will push the AISC down to circa $1,000. Since then all the AISC has done is to rise to now be over 30% higher then were Serabi said they would be.

[glasswala] 30/9/2021 08:56

So a non event again for SRB. The BODs have really given a kick in the guts to shareholder with poor management especially regarding the misappropriation of funds for 5/6 years. What were the auditors doing for those 6 years not to pick up on this or were they also on the take??

[bsg] 30/9/2021 08:55

AISC still too high.

[ppvn] 30/9/2021 08:28

Well these numbers are good imo and finally an RNS that doesn't have any unpleasant surprises.

As others have said the headline numbers are very encouraging, and with no debt and $18mm banked the development of coringa is looking good in terms of cashflow funding. Slightly frustrating that with net income of around $12-$15mm p.a. and rising that the market cap is stuck at £50mm but that's a function of this accounting nonsense.

Reassuring update.

[kennyp52] 30/9/2021 08:12

Fingers crossed Sleveen .. Q2 was an improvement so a progression would be welcome .

[sleveen] 30/9/2021 08:10

Q3 production RNS due shortly should show continuing improvement.

[kennyp52] 30/9/2021 08:05

Maybe so Boris .. but directors have destroyed confidence so it needs to be higher.