Serabi Gold Share Discussion Threads

[loganair] 14/10/2019 11:08

SRB giving Coringa 38,000oz when fully up and running with I believe Palito producing 44,000oz with ore sorter = 82,000oz gold miner is my base case scenario.

[ppvn] 14/10/2019 11:03

It was a great update for me, personally speaking.

We know that Palito and Sao Chico are capable of returning around 40k oz on an ongoing basis and that the ore sorter will add to this.

What excites me is the fact they are drilling four anomalies including the cindarella shear after they have finished the Sao chico drills.

I invested here on the basis of the company being cash flow break even but with excellent exploration potential - this year the POG has turned them into an increasingly cash positive producer. Coringa will increase this. However, if one of the four anomalies turns out to be a significant deposit then that can change the whole dynamic of this company. And they are drilling four of them!

Its exciting to see it coming together in so many ways.

[loganair] 14/10/2019 10:52

Price of Gold holding up well this morning, seems to me because the Chinese are saying they want more from the United States before signing phase 'One' of any trade deal.


For me, it was an OK update, not great and not poor.

[qs99] 14/10/2019 10:49

more than me: well said. With producing mine, POG still maintaining its high ground, drilling and new resource coming on stream in the next 12 months or so, this IMO looks like a great co. Would like forward looking increase on dividends tho to be evident from management.....DYOR

[morethanme] 14/10/2019 10:46

Great update, great progress. Happy to be invested and looking forward to the future.

Loganair: I view the forecasts the same as you and always assume the lower end of whatever is forecast and expect nothing more. Of course I will be happy if that is exceeded, but I think it is important not to have your head too far up in the clouds.

However even with the low end of forecasts and realist POG, I think the economics for the company are fantastic.

[paleje] 14/10/2019 10:40

Fwd PE less than 4 with Coringa producing and gold at $1275, not a bad base case.

Not sure where you got the 80-100oz estimate from loganair but in September CEO in interview said 80k oz both mines combined.

[borisjohnsonshair] 14/10/2019 10:20

MCAP GBP55M

[borisjohnsonshair] 14/10/2019 10:19

Blimey - glass half full guy!!!

[loganair] 14/10/2019 10:05

At the beginning of the year SRB forecast gold mine to be 40,000oz to 44,000oz.

Many posters posted they thought the upper end whereas I was dismissed a little for writing that I thought the bottom end is where SRB will be at the end of the year.

SRB latest forecast "The Company anticipates full year production for 2019 will be between 40,000 and 41,000 ounces."

This is why I still think SRBs 80,000oz to 100,000oz once Coringa in fully up and running will likely turn out to be the bottom end of 80,000oz.

[borisjohnsonshair] 14/10/2019 08:28

There's no spare stock. 16% retail is still very low. It could gap up at some stage.

[jeanesy] 14/10/2019 08:23

Very muted response so far. I would have expected this to break out beyond 90p today.

[ironstorm] 14/10/2019 08:01

Great statement.

Love this part

We are very excited about the prospectivity of these anomalies. They
each exhibit geophysical signatures substantially better than anything
else we have encountered around the Sao Chico deposit,

As it is now without Coringa it’s fantastic value. Ramp intended 🤫

[borisjohnsonshair] 14/10/2019 07:42

I'm encouraged by the substantial increase from Q2. Q1 to Q2 dropped but Q3 has increased and very slightly exceeded Q1. Very nice. Every month, quarter and ounce of stability keeps us on track for the MASSIVE days ahead when Coringa is producing. People are impatient but if Palito remains constant and enhanced by ore sorter up til Coringa production the MCAP is simply madness. A PE of circa 1. Tooo much fear priced in as the risk is very small - in fact nothing realistic is potentially in our way.

[qs99] 14/10/2019 07:16

Let's hope this kicks it on further and some upgrades? DYOR

[jeanesy] 14/10/2019 07:09

Fantastic results :)

[qs99] 14/10/2019 07:07

Lovely update IMO....GLA

[sherry35] 14/10/2019 01:13

loganair - I'm prettey sure MH mentioned bringing in a major due to the complexity of the Cinderella complex. I think it's in the prior video.

[jeanesy] 13/10/2019 11:54

Just listening to the interview. Its very long but very positive. Ore sorter now on site and should be in production in dec/jan. A 10k increase in production for the year at very little cost :)

[loganair] 13/10/2019 10:38

sherry35 - MH said that the two mines are too small for a major and is why the Coringa mine was sold to SRB in the first place.

[borisjohnsonshair] 13/10/2019 06:42

I was wondering the time frame for updates on these exploration targets? Are we days, weeks or months away?

[sherry35] 13/10/2019 03:00

loganair - Thank you for the summation on the interview. Any mention of a buy-in from a major in drilling some of the Sao Chico and Cinderella hot spots?

[kennyp52] 11/10/2019 09:27

Lots of positivity in here which is great but not being reflected in the share price ? Bought a few more but spreads has been prohibitive when you buy something for 87.2 for it be immediately devalued to 85.7 plus dealing then IMO it holds back investing in such a share . Might be a start of me building a decent pot in this based on the posts here from people I respect .

[borisjohnsonshair] 10/10/2019 13:30

Lots of bad England there

[borisjohnsonshair] 10/10/2019 13:22

Yep - too good to be true. Things usually aren't but I can't spot the problem!!! I'd like more than 16% in "retail" hands. I still consider this an issue. With a massive undervaluation I actually consider their a case to dilute, even thought debt is generally considered much better. I think that's me being impatient though. I want ACTION

[ppvn] 10/10/2019 12:56

Hey bomber, great post as ever and does hit the nail on the head.

It isn't imo ridiculous to think this share price could get to a fiver in a couple of years. This one is definitely the share I'm most excited by, despite it doing the least (for the past couple of months anyway!).