Serabi Gold Share Discussion Threads

[imastu pidgitaswell] 10/11/2021 07:39

To be expected - he's a stupid commenter...

[borisjohnsonshair] 10/11/2021 07:04

Stupid comment. It's a signal of good value. Ignore and miss out on the opportunity.

[plat hunter] 09/11/2021 15:36

So the BOD bought stock after they were influential in trashing the sp??Hmmm

[bomber13] 08/11/2021 19:02

Whilst the present BOD have done an awful lot to justify the current low valuation of Serabi , at least the CEO and FD have finally bought stock . Quite apart from the clear growth potential of the company , and its undervaluation versus peers , here are two other major macro reasons why things are starting to look a lot more interesting .

The Brazilian Real is now less than 10% from its all-time low versus the US dollar , and the gold price in Brazilian Real is less than 10% from its all-time high -

[tightfist] 08/11/2021 16:26

Yes, possibly hidden agendas (especially now Tavares is the new GM?) and a bit of media manipulation would not surprise, just another data point amongst the investing noise. .I am more interested in confirming that MH & CL are on the ground running, how the new team is being shaped-up and first sight/evaluation of the Serra vein! Not to mention that Q4 production is on-course for 10kOz......... And targeted RAB exploration drilling has commenced..... Dreamer!.Cheers, tightfist

[imastu pidgitaswell] 08/11/2021 13:51

I'm not too fussed - indeed have just added.

As before, it's a case of being invested despite the two clowns, not because of them.

[borisjohnsonshair] 08/11/2021 13:42

Yep - MH & CL purchased just before the license is suspended!!!! Doh!

[cotton4] 08/11/2021 13:37

I get the feeling that there is a bit of scaremongering going on here. Why has an August article now surfaced 2 months after it was published and not highlighted back then. If there is substance to the article, have SRB complied or is the insinuation being that their mining licence will be withdrawn? I presume that would go down well with the locals, with 300 jobs at stake, excluding the support given to the local community by way of school/ hospital assistance. I expect the financials shortly, which will allow MH and co to update the market on all aspects of the operation, if this is warranted.

[tightfist] 08/11/2021 13:24

Let's just remember that the final Coringa licence has not been issued yet......

[borisjohnsonshair] 08/11/2021 12:22

The mines operation and methodology are approved by the government. There's been an inspection and a warning. No biggy.

[imastu pidgitaswell] 08/11/2021 11:55

How unexpected - the BoD telling shareholders one thing which turns out not to be the whole truth.

Who would have thunk it?

[loganair] 08/11/2021 11:54

At least Serabi are doing things the right way round.

Getting the first mine up and running and highly profitable, then using these profits to survey other prospects and to fund much of the opening of Coringa.

[ppvn] 08/11/2021 11:35

Thanks for those links and your research Tiger - and as an aside glad to see you post again.

The local news articles are indeed interesting and as tightfist has said - largely contradictory to what we have been told by the BOD in the past. Much has been made of the local outreach - whilst not an eco warrior I did appreciate the *apparent* funding of local school, the use of Serabis medical facilities available to locals, the indigenous nurseries for flora etc that are touted on their website. With the focus on ESG so high in so many investors minds it is very disappointing to see this news - if it is indeed correct. As far as I can tell from the article the issue is that they have not provided evidence of how they clean up cyanide from their tailings - this is precisely what Mike has said previously that they do - I.e. clean up artisanal mines that may have been lacking in responsibility.

Will certainly be seeking clarification on this - not a good look for sure!

[golden prospect] 08/11/2021 09:46

The news from tiger60 plus a new moniker "miningtracker" over at LSE a few days prior may leave a few investors gnashing. Serabi will be under increased scrutiny especially given the geo and current global mood.

[tightfist] 06/11/2021 18:45

Hello tiger, I am surprised that your posting has not yet elicited any responses. I found it quite difficult to follow (and the last link is incorrect?) but if Giroportal is the voice of the local media and correctly reflecting the local relationships, it paints a different picture to the one we were given after the February 2019 community meeting?.I have found with other overseas mining companies that following the local media is a good predictor of trouble ahead, although that has been in the context of environmental concerns rather than supposed management issues. I am intrigued where the Serabi denial and dismissal note was published (presumably in Portuguese). I thought it notable last Tuesday that Almeida was effectively given a clean bill of health by MH. At least new GM Helio Tavares is a known quantity..Cheers, tightfist

[borisjohnsonshair] 06/11/2021 10:10

Oh wow - potential fines 7k quid!!! They lose that going for lunch most days. Hardly an issue.

[tiger60] 05/11/2021 18:45

‘Serabi Gold clarifies that the reasons that led to the dismissal of our former collaborator Roney Almeida, who held the position of Operations Director, are not related to the facts narrated in the matter of Giro Portal.’

hxxps://www.giroportal.com.br/noticias/8420-serabi-demite-diretor-de-operacoes-da-empresa


‘The decision of the governing body follows a broader review and the demand for a reorganization of the management of its operations. Contrary to the matters reported, Serabi recognizes Mr. Roney's positive and significant achievements and the changes he has made in the company to improve the quality of our operations, even in very challenging circumstances, especially during the past 18 months.’

Additionally news to me regarding licensing issues (since resolved but with monitoring and potential daily fines);

hxxps://www-giroportal-com-br.translate.goog/noticias/8052-serabi-assina-termo-de-ajustamento-de-conduta-com-a-semas-para-regularizar-licenca-de-operacao?_x_tr_sl=pt&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=nui,sc

hxxps://www-giroportal-com-br.translate.goog/noticias/tag/serabi-gold?_x_tr_sl=pt&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=nui,sc

This website provides a much more gritty and granular outsider view of operations. What exactly was the nature of the licensing issues in August were not officially shared but more concerned by the qtr 3 prod figures and the expectation of similar for qtr 4. It was a shock to see qtr 2 prod above qtr 3 and acknowledgement that qtr 4 would be more of the same. It seems the so called small supply side issues are considerably hampering development and drilling is not at optimum operational levels - costly with 4 drills on site. The hopes of 32,000 development metres was questioned at the time but now 20,000 looks too much to hope for

We talked earlier in the year that MH had no excuses this time around with the funds available from the placement to facilitate his expo aspirations however the monthly updates have dried up and an indication of a shift in strategy hinted at. Awaiting the next expo update with interest and the Coringa news promised initially by end of October. I agree the identification of a viable open pit resource is the game changer which will bring external interest and it seems a real possibility but disappointed the Coringa license shifted from expected in qtr 4 to qtr 1 2022. Looks like they need to seriously up their PR game.



Still holding and expecting better days but if your Portuguese is good check the historic serabi articles they fill a gap in my knowledge and suggests some local issues not addressed (perhaps unsurprisingly) on any investor presentations/news updates. (NB The historic articles on COVID numbers in the camp in 2020 were also eye opening)

[borisjohnsonshair] 03/11/2021 13:20

Nice bot trading. 1.4% drop on £15k volume, not even all sales.

[imastu pidgitaswell] 03/11/2021 11:39

I know - my comment was at PPVN and being 'tiring of the criticism'.

I am invested here despite this management, not because of it - the assets, cashflow and potential is compelling. You might say that is down to them, and to an extent it is with the CEO. The CFO - meh...


edit - crossed posts. All good - fair comment.

[ppvn] 03/11/2021 11:39

Imastu pidgitaswell,

Good points and thanks for saying we are all entitled to our views - a worthwhile sentiment in life in general! You absolutely don't need to change your view - and you certainly aren't the only one with that opinion and justifiably so.

With anything in life its mostly in the grey palette rather than black and white. Doubt we will ever know the full story with what happened - so imo it's a difficult call to make whichever side of the aisle you find yourself (and not just you personally) on. At least now the CEO is personally accountable for these things going forward (with that on record) - hopefully we can agree that is a big step in the right direction.

[cotton4] 03/11/2021 11:37

I agree with much of what you say imastu but more of my criticism was levied at CL as opposed to MH.

[ppvn] 03/11/2021 11:20

Good posts Cotton. I too am tiring of the criticism of Clive/Mike - if the recently departed COO was involved in the accounting issues then I can certainly understand the difficulties identifying the issues - and with Mike assuming joint responsibility going forward that does go a long way in correcting the accountability issues going forward imo. I was thinking about the way I could potentially vote in the AGM re-elections - I must say with these changes and the recent purchases I've personally gone from "abstain" to "for" for both.

Those of us that met at the last meeting we were able I believe have all been invested here for a similar amount of time. I personally invested for the exploration potential - coringa was a surprise but with hindsight although it has stagnated the share price for a few years it should soon start paying off. It's a good time to be in Serabi imo.

[cotton4] 03/11/2021 10:48

There has been a lot of criticism recently regarding management with regard to the accounts issue. Someone wrote on here that the amounts involved would be like the individuals winning the lottery and I would tend to agree. I am also of the opinion that profits don't hide. So if the individuals concerned had a lifestyle reflective of a lottery win, then everybody locally would have known that something was not right. However, if the money was "hidden" for a rainy, e.g, than in my opinion it can be recoverable in part. Something for CL to concentrate on.
As for the financials:
2021 eps 9.06c
2020 eps 7.05c
2019 eps 2.92c

for the 1st 6 months. So its not that dire.

[cotton4] 03/11/2021 10:38

Been a while since we had a drilling update. Also waiting outcome of aerial survey.
As for the Stockopedia figures, I'm a bit more bullish, probably expecting better grades but there are so many moving parts. Short term the pog will be influenced by the Fed tonight but can't see an end to short term interest rates being negative which should be a positive. I believe that inflation is stronger than central banks believe.
But, of course, wtfdik