Serabi Gold Share Discussion Threads

[ahmedbin69] 14/6/2019 16:18

Greg I'm not as clever mate. So just asking .

[gregpeck7] 14/6/2019 16:17

Pa Ahmed considering you hold allegedly you do love trying to find a negative. Sold out and missed out by chance?

[gregpeck7] 14/6/2019 16:16

They have a liability of 12.1 million usd to purchase Coringa that needs paying. They may well have that in the bank it might be tight , but the balance is small change. They have to call out the risk though. You will find statements of that nature in all plc's where they have a liability it's standard practice.

[gregpeck7] 14/6/2019 16:14

That's a standard accounting risk statement. Surprised you need to ask.

[ahmedbin69] 14/6/2019 16:14

What will be their contingency or with hold price up and quarterly gold increases do you think they will have the money to repay

[ahmedbin69] 14/6/2019 16:13

Greg what do you think about the statement made as per below As at 31 March 2019 the Group had cash in hand of US$12.1 million and net assets of US$70.2 million. The Directors have reviewed the forecast cash flow of the Group for the next 12 months. Based on this forecast, which includes planned capital and exploration programmes, the Group may not be able to generate sufficient cash flows to settle, in full, the deferred consideration of US$12 million payable for the acquisition of Coringa which falls due in December 2019.

[gregpeck7] 14/6/2019 16:05

Hopefully the guys at the agm can clarify exactly what they seem to have here.. they are clearly very excited as were some of our posters and with good reason it seems.. "The most stand out feature is an extremely pronounced magnetic high that runs east west across the tenements. This is a regional feature and we see many of the electromagnetic anomalies lying on the flanks of this magnetic high. In addition, the survey identified the smaller but nonetheless very exciting anomaly named the 'Cinderella shear' which is located traversing the Sao Chico mining license area in a south west to north east trend. In the airborne survey this was highlighted as an eight kilometre long magnetic and electromagnetic high.

[gregpeck7] 14/6/2019 15:51

Nice one. A few 6 figure investors rock up now and things will get very interesting very quickly. Would love to be at agm.

[ahmedbin69] 14/6/2019 15:46

Greg I have and it's great news.

[gregpeck7] 14/6/2019 15:44

It will ebb and flow butbthe direction overall will be north. Read and re read today's rns soak it up and just sit and let the value accumulate.

[ahmedbin69] 14/6/2019 15:41

Looks like sellers now have it

[gregpeck7] 14/6/2019 15:38

It's not a high volume share, interest is arriving all the time. I only posted on about 3 boards to say look at the rns. Hardly wide spread ramping.

[ahmedbin69] 14/6/2019 15:36

It seems the buying has stopped now anyhow

[ahmedbin69] 14/6/2019 15:36

A good share doesn't need ramping

[gregpeck7] 14/6/2019 15:35

This needs a light shining on it. This is an outstanding opportunity and all it needs is eyeballs. No apologies for spreading the word. Let the fundamentals speak for themselves.

[mick1909] 14/6/2019 15:32

If it wasn't for his ramping I wouldn't have been invested in here a couple of days ago as I didn't no about it and fundamentally this looks a good share keep it up Greg

[ahmedbin69] 14/6/2019 15:30

Greg your becoming a nuisance posting this across everywhere on here and lse The share doesn't need you ramping

[thedickster] 14/6/2019 15:22

As Louis Balfour would say, Niiiiice

[gregpeck7] 14/6/2019 15:07

Wow. What an update.

[gotabsirius] 14/6/2019 12:55

Excellent, hopefully he's kind enough to convey a flavour of what goes/has gone on. Thanks

[gregpeck7] 14/6/2019 12:48

Tightfist is there

[gotabsirius] 14/6/2019 12:46

Anyone at AGM?

[gregpeck7] 14/6/2019 12:34

Grabbed another 4000 odd. This is simply too cheap.

[gregpeck7] 14/6/2019 12:25

My X5 to x8 multiple is my optimistic. 100p after all day is where this should be right now. And I think it will be soon.

[ppvn] 14/6/2019 11:55

100p isn't on the optimistic side for this currently. That's a market cap of £59mm.

They are an increasingly profitable producer who is currently investing significant sums in their portfolio of mines. Coringa was bought as a prospect for $22mm. Palito and Sao Chico have a track record for both production as well as continual extensions and further resource; palito in particular is worth multiples of Coringa in it's current state.

That completely discounts their c.$15mm cash on hand, their low current liabilities (sprott loan) of $4.4mm, and the extremely compelling targets for drilling in the form of Cindarella and others.

I agree that around a pound would be fair (but not optimistic) for them in their current guise, the imminent PEA for Coringa should add to that, and the drill targets they identified throughout last year all have the potential to multiply that. Coringa was identified by drilling and became worth $22mm without an ounce coming out of the ground. The targets serabi found are potentially worth many times that, which is why I'm keen to hear more about them.