Serabi Gold Share Discussion Threads

[bomber13] 04/4/2019 17:13

Much agreed PPVN , they need to knuckle down , deliver Coringa on time and budget , prove the efficacy of the ore sorter , wow us with Cinderella , pay a not insubstantial cheque for US$12m by December , and achieve a share price above 72p , the level of the last fund-raising a year ago . I am all for the ambition to be a mid-tier gold producer , but all in good time .

[ppvn] 04/4/2019 16:58

If it's a 7km shear that could be rather interesting. Must say that the talk of other opportunities doesn't fill me with confidence; what with coringa, scaling up sao chico, cindarella and the other anomalies they have plenty on their plate already. Unless its additional license blocks or something, I'm not terribly convinced by those comments!

[sherry35] 04/4/2019 14:58

He mentioned run off from the shear, and sampling in these run off areas is complete. He plugged looking at other opportunities at the end of the Webcast.

[ppvn] 04/4/2019 12:43

New interview (2nd april) on serabi's homepage. Interesting to hear Cindarella now described as a shear.

[ppvn] 03/4/2019 07:28

Hi Sherry,

All coringa expenses should fall under capex as they build out the mine there as opposed to aisc for palito and sao chico.

Aisc should only include the things like the tailings pond modifications they made last year since that is related to sustaining their existing production. The drill expenses they have to increase their resource at palito and sao chico should also come under aisc but not at cindarella and other locations if I understand correctly.

[sherry35] 02/4/2019 21:46

PPVN - I'm wondering if SBI will incur additional mill construction costs in switching from a tailings pond to a incorporated "filtration and dry stacking of mine tailings" at Coringa. Will the tailings pond construction expense offset the cost of the filtration and dry stacking equipment?

Also, I'm wondering about the impact on the commissioning date for the Coringa mill should SBI need to purchase additional equipment for the filtration and dry stacking.

[ppvn] 02/4/2019 10:59

Had a look at last years q1 results - seems production numbers should come out around the end of April and cash numbers in mid-May.

Spread you could drive a bus through at the moment!

[sherry35] 30/3/2019 14:41

PPVN - I agree with your statements. The 1Q19 financials should be a good indicator of SBI's progress. The ore sorter, as mentioned in the PR, should have a significant impact on cost and increase mill capacity.

A lot of gold miners last year had mysterious production problems in the second half of 2018 year. Some of them took a beating on their share price

I found this particular PR very informative and uplifting. Proving a 2 million plus resource by year end will increase SBI's book value. Toss in three producing mines in 2020, this should reflect well in the share price

[sherry35] 30/3/2019 14:25

The below two publicly stated objectives are of interest in proving up a "global gold resource of more than two million ounces". To "accelerate" one "drilling program at Palito" and "commence a similar drill" campaign at Sao Chico, would this imply concurrently operating two or more drills at both concessions?

+++ Sourced from PR +++

·Continue, and accelerate, the current drilling program at Palito to test the strike extension of ore-bodies beyond the current resource limits.
·Commence a similar drill and surface geophysics campaign at Sao Chico to test the five kilometre trend that hosts the Sao Chico deposit as well as multiple historic artisanal mines along its length.

[ppvn] 29/3/2019 10:11

Agreed Loganair - they are making steps to address the issue and I'm of the view that the scrubber should have got them to the $1k / oz. Unfortunately that didn't go online until Jan so it'll only be reflected in the q1 numbers this year. Next quarter results will be critical.

[loganair] 29/3/2019 10:04

Serabi directors said they would get the AISC down to $1,000 per ounce, then when every thing is in place to reduce further to $950, instead the AISC has increased slightly.

[ppvn] 29/3/2019 09:55

Agree, bomber.

They need first to get production to 100k oz and get costs down to $950 max. The scrubber that went online in Jan won't have impacted costs until q1 2019 and the extra expense of tailings dam work etc I assume kept costs disappointingly high.

There have been a lot more buys than sells today which is reassuring, but they can't keep relying on their shareholders for support if they don't start delivering. As is mentioned, q1 numbers should be a step change - production of >10k oz, sales of >12k oz, and the impact of the scrubber on costs will finally be reflected. I added modestly this morning on the strength of q1 as well as the fact they are already analysing the cindarella zone.

[loganair] 29/3/2019 09:37

The first thing that worries me is how the AISC of production has increased slightly instead of going down as was promised last year it would.

[bomber13] 29/3/2019 09:29

Disappointing that we have had two consecutive quarters of delayed gold sales , and , although purely a timing factor , this somewhat dampens the consistent success Serabi has had with mine development rates , production , and , of course , exploration . Q1 2019 should clearly be an excellent quarter , however , providing all production is sold .

Comments from the CEO and Chairman are also reassuringly good . First time I have heard them speak of a greater than 2m oz resource , and that the ore sorter's potential effect on production being " significant " . Also first time I have heard them talk of M & A opportunities away from their designated region of Brazil .

I would far rather they proved themselves as a 100/- oz producer first , to be honest .

[ironstorm] 29/3/2019 08:19

Looking forward Q1 numbers should be much improved. The current cash position healthy. Hopefully sufficient for the next Coringa payment. Lining up well.

I had hoped this would come together this year at some point - one of my 3 main goldies. No reason to change my mind.

RNS might cause some price weakness I may add further.

[tightfist] 29/3/2019 08:11

Agreed! More reading required, but the contrast between the down-beat opening figures and the positive and informative sentiments of the Chairman (and CEO) sections is stark. Lots of things to like, especially a little more clarity about the timing of the ore sorter......

[ppvn] 29/3/2019 07:32

Headline numbers frustratingly bad and I see that it's due to unsold inventory to be recognized in 2019. Long term may actually be helpful (I assume that's why Jan cash balances were much higher than Dec) but even so it's not helpful for the annuals.

Suppose that on balance its broadly in line with 2017 numbers (assuming c.$4m inventory sold in Jan that brought cash balance up) and the increased gold price as well as scrubber should improve the 2019 figs. Always jam tomorrow!

[gregpeck7] 28/3/2019 19:34

Horrible day for gold price...

[bomber13] 28/3/2019 17:24

Hi Sherry ,

City Financial went into financial administration very recently , and , subsequent to that , Garraways , a young ambitious fund managing group , has taken on City's Absolute Equity and Multi-Asset funds together with the 3 fund managers who ran them . So , hopefully , there will be no change to the investment process , and , therefore , the Serabi holding will still be in safe hands , but under a different umbrella .

Their 5% stake showed up directly after last year's placing at 72p in March .

Here is the Garraway link FYI -



Personally , I find the easiest way to look at all RNS's on the UK market is on this website FYI -



For shareholdings , apart from looking at RNS's and annual reports obviously , I look at this website FYI . Just input the stock code to get the company up and then click on Directors and Shareholders -

[martinthebrave] 28/3/2019 16:53

Try their website Sherry35 -

[sherry35] 28/3/2019 15:16

TR-1 Notification posted on TMX. What was the prior holdings before crossing the 5%? Were the shares acquired out of the public market? Which market - LSE vs. TSX? Where is the inside trades filed for trades executed on the LSE trades?



Where does a investor go to examine the insider holdings of insiders and institutions in the UK?

[ppvn] 27/3/2019 14:54

Lol, can hear the UK ones chirping too! Confident it shouldn't be too much longer before there is a bit more action. I guess 30% or so ytd isn't too bad - better than my 2018 return here!

[sherry35] 27/3/2019 00:39

PPVN - You mean to say you can't hear those CDN crickets a chirping?

[ppvn] 26/3/2019 11:41

Financials out this week I guess? All gone rather tumbleweed again...

[ppvn] 22/3/2019 16:11

Gold at it's all time high in BRL terms. 5,100 / oz.

Every little helps!