Serabi Gold Share Discussion Threads

[gregpeck7] 19/3/2019 15:12

I literally cannot believe you can buy at these levels.. looks like around 50 to 70,000 shares to shift then its onwards again...

[bomber13] 19/3/2019 14:32

Thanks PPVN , great summary . With the many transformational positives , it is all the more surprising that we are where we are in shareprice terms , only days away from the anniversary of the Greenstone strategic investment and private placing at 72p . We are also due Q4 and full year results any day now , and these should be good news .

[sherry35] 19/3/2019 13:29

The scrubber has a 18 month supple of tailings to work through as mentioned to me at PDAC. This should carry us right into next year. Like you, I'm hoping the POG heads higher.

[ppvn] 19/3/2019 13:15

Well I thought I'd do a little more guesswork with regard to what we can expect from Serabi in the short to medium term, as well as identify potential for where surprises could come from.

At Coringa, the Preliminary License is expected fairly imminently, the drills are still there (contrary to what I believe was previously expected) as they continue to follow the Meio and Galena veins (both very high grade). Then obviously the PEA is expected. I assume work on extending both Meio and Galena is to better define the target for the purpose of the PEA.

At Sao Chico, currently surface geochemistry is ongoing at Cindarella / the ABC anomalies. Cindarella has potential massive sulphide and the ABC clusters are potentially more like the existing Sao Chico mine (I.e. hard rock sulphide veins). Drill program after surface work is complete expected throughout 2019. The ore sorter is expected in H2 2019.

Palito; I couldn't find anything other than ongoing mining, though obviously they are doing something there since a geologist was involved in the recent accident. I couldn't work out what this could have been related to though.

They are also producing more gold at a higher price than they have ever done, and the scrubber I still think gives them a good shot at getting cost down to c. $1,000 / oz all in.

Think that's about it? Anything I'm missing?

Edit: apols Sherry I forgot to come back on your last comment re. The ore sorter being too optimistic in my previous assumptions. I was working on the basis of 3,600 oz per month with it ramping up to 3,800 by August. I figured this was actually quite conservative since that totals 44,200 oz for the full year.

[gregpeck7] 18/3/2019 10:19

Sent. Will advise if I get any bits of wider interest back...

[gregpeck7] 18/3/2019 08:59

I will get in touch, you can still buy at mid price. Hopefully someone Hoovers these cheap shares as I saw very little selling and this moves on again...

[gotabsirius] 17/3/2019 21:59

Email the company, they are very good at replying

[gregpeck7] 17/3/2019 19:12

They could do with updating their rns style as well.. why was the big resource update called 'miscellaneous'. Anyone have a good route in to contact them?

[sherry35] 17/3/2019 15:03

It goes back to my prior comments on poor promotion of the company. There was 6 Webcasts in the fall of 2019 but only one in the new year. How many analysts are tracking this company in the UK, EU and NA? One? Two?

IF MH and execs want to profit off their options and stocks, time to get this stock moving north. SBI has the goods (producing mine, high grades, YUGE exploration upside, geophysics), it needs to get its story out there.

[ppvn] 17/3/2019 09:24

I was rather hoping the Jan progress update might have been repeated on a monthly basis, but don't know if that was a one-off.

[gregpeck7] 16/3/2019 19:11

What additional newsflow can we expect this month chaps?

[gregpeck7] 15/3/2019 08:09

You can currently buy at mid price. Mm's have grabbed some stock from somewhere..

[gregpeck7] 14/3/2019 19:35

Make that 4 days... think I'll take another 1000 tomorrow. Slowly building a nice position...

[hraj] 14/3/2019 16:47

looks like a cup handle formation.. it can go two ways.. either break new highs or side trend.. time will tell but so far everything has been postive.

[sherry35] 14/3/2019 16:10

PPVN - Thank you for taking the time to cruise the numbers and share your thoughts. Do you think commissioning of the ore sorter will be completed by August when the current investor presentation states "Ore sorting test work has yielded excellent results. Unit being shipped and planned to be commissioned H2 2019"? H2 is a large window. I think you're being optimistic though the SBI folks have surprised us in the past.

I'm lining up with your thoughts on a combination of financial instruments to service the $12mm Coringa payment. SBI still needs to maintain a healthy cash position post the Coringa payment. As eluded to by you, I think the payment will involve cash and small share financing. I would like to see the share price north of the split to further reduce the dilution. Also, I predict half of the payment will be in cash.

We just need the POG to head north to $1400 USoz. Hopefully the SBI share price will follow this time.

[ppvn] 14/3/2019 11:49

Ok so had a little guess at the Sprott loan and I figure that by September (mentioned in a call when Coringa funding will be concluded, although final payment not due until Dec), there should be $3.3mm remaining of the $8mm facility. This is because as at Jan 31 there was $6mm remaining, and repayment is made in equal monthly installments until June 2020, so I divided $6.66mm by the 18 monthly payments of $370k.

Cash as at Jan 2019 was $12.8m; I figure that the scrubber has reduced AISC to $1k (reduction in aisc of just under 10%, since that is how much additional production its providing at little cost), I've scheduled an increase in production from Aug 2019 to 3800oz per month (from 3600 that is currently a bit conservative for what they are doing) as the ore sorter should be running by then. That gives $10.6mm net profit by Sept, less the $4.8mm repayment to sprott from Jan-Sept, around $6mm additional cash to the 12.8mm.

In summary, i figure Serabi could actually have a relatively good stab at paying off the $12mm coringa payment from cash on hand from the look of it. Either fully in cash, or by accessing an additional loan facility.

Any thoughts or commments on this?

[sherry35] 13/3/2019 20:23

3 consecutive days of trading on the TSX. I'm speechless.

Mar 13 12:51:32 PM 0.83 4000 1 90
Mar 12 09:53:43 AM 0.82 500 1 1
Mar 12 09:53:33 AM 0.81 500 1 1
Mar 11 03:03:40 PM 0.8 500 1 62
Mar 11 12:12:29 PM 0.8 482 NBDLT 5 79
Mar 11 12:12:28 PM 0.8 500 1 79

I noticed House 001 seller pulled its 500 share ASK order around the same time House 90 posted 7500 share ASK order. The number of players is still pretty small for the time being.

[gregpeck7] 13/3/2019 19:40

Very interesting read.Gold up another 10 bucks on top of 10 the day before....

[ppvn] 13/3/2019 12:21

Hi everyone,

Just seen a new presentation went up for the PDAC conference on Monday, found here :

Been a little busy at the moment so only had a brief skim.

[gregpeck7] 13/3/2019 10:04

Stock looks incredibly tight here.. Only 1 MM offering at 53p, then its 55p.... Finally the good news is sinking in....

[sherry35] 12/3/2019 22:06

All - I was wondering if anyone has information on the Sucuba permit "Located approximately 10 kilometers to the west of Palito" [sourced from SBI Web site]. Is the 10 kms from the Palito mine or the tenement area as defined on slide 5 on the Feb 2019 investor presentation.

[gregpeck7] 12/3/2019 22:03

Also nice to see the BB getting busier... Very nice to see all these views and opinions rolling in.

[gregpeck7] 12/3/2019 20:35

Gold up over 8 dollars an ounce...

[sherry35] 12/3/2019 17:57

Hi tighfist - There is a number of places to source the construction equipment, such road and infrastructure construction companies, for building the ramp and portal. There are roads in the area that need to be maintained with flooding etc. As for specialized mining equipment, some of the nearby miners may have some spare equipment. Especially the miners looking to buy out SBI.

[tightfist] 12/3/2019 16:23

Hi Sherry,We were actually in New Zealand - the legacy of gold mining mines and townships is prolific and amazing!Yes, you have found the historical PR's regarding mini-scoops, etc that I was thinking of. I have the impression that it's pretty remote down there and that 3rd Party contract kit is just not available? eg a while ago a piece of mining equipment failed (I cannot find the relevant PR) and ore/gold production suffered for a few months until it was repaired.But MH seems pretty resourceful, I hope the newish Brazilian COO was cast in the same mould! There will be some synergy savings through being able to share between the sites equipment when things don't go according to plan.Cheers, tightfist