Serabi Gold Share Discussion Threads

[trader365] 14/1/2020 10:24

Everybody is selling into the rise and only the Clown is buying with his months wages from Billy Smarts

[bomber13] 14/1/2020 10:23

By revealing their year end cash position of US$14.3m along with in line Q4 and 2019 production statistics , we now know for sure that there was nothing sinister in Serabi delaying the final payment of US$12m on Coringa in December for up to 3 months . It now looks increasingly likely that Serabi will pay this final tranche at the same time as securing the necessary finance to construct and develop the Coringa mine so that we have a virtual certainty of the path to total group gold production of 100/-oz pa .

For the first time , Serabi has declared their gross cash position along with their quarterly production statistics , which is a significant message in itself . Year end cash of US$14.3m compares with US$13.4m at the end of Q3 2019 , and US$12.8m a year ago , and this level of cash implies that an excellent set of Q4 results are due with the final year figures at the end of March . Full year production for 2019 is confirmed at 40101 oz , which is within Serabi’s guidance range , and Serabi has reconfirmed guidance of 45/- to 46/- oz of output this year , which includes the benefit of 9 months full operation of the ore sorter .

What is also significant today is the 2908 metres of horizontal development achieved in Q4 , the highest quarterly rate for over 2 years , and with over half being ore development . Presumably , this is in preparation for the ore sorter’s full operation so that plant throughput can be kept at capacity . Serabi’s CEO gives us a whole paragraph on the recommencement of development on the G3 vein at Palito , which has proved to be the historical backbone of the mine with its greater width and higher gold grades .

Whilst we already know about the first highly encouraging drilling results around the Sao Chico mine , confidence is clearly high of continuing to find ore extensions to the East , West and at depth . Moreover , even though initial exploration drilling results have not been received as yet from the geophysical anomalies near minesite at Sao Chico , Serabi has already applied for a new mining licence to encompass these areas . This shows a highly pre-emptive measure of both confidence and excitement .

The permitting process at Coringa is proceeding very satisfactorily . The date of Public Hearing has now been set for 6th February , and Serabi has received formal notification from the government body representing local indigenous people that they support Coringa's development .

All of the above is hugely encouraging , and , by the end of Q1 2020 , we are extremely likely to have absolute certainty on Coringa’s funding and permitting , the ore sorter’s efficacy , the resource upside at Sao Chico , and the highly prospective exploration programme . All systems are clearly go .

[trader365] 14/1/2020 10:04

Only one buy today, so its Kenny the Clown with 800 quids worth at the top of the tree. He couldn't afford a grands worth! There's one born every minute lol

[kennyp52] 14/1/2020 09:53

Been looking at re entry but put my profits into JLP and Hum and still holding a chunk in CEY so had no cash and missed a trick at 63p. Took 88.80p on this when I sold so if we get back to there and plus I will be satisfied but I have a good feeling about this one and I know you are ultra confident .. so here we go. HUM also had decent figures but that share price never seems to go anywhere . Much higher production than here .. might be worth a quick look . All buys showing as sell by looks of it .

[borisjohnsonshair] 14/1/2020 09:47

Glad to have you on board. We rode CEY up from 80p together.

[kennyp52] 14/1/2020 09:43

Debt free H1 is a biggie for me . OK they may switch the cash generation to CAPEX to extend /increase resource further . But it has a decent feel to it . You picked the bones out of it yet Boris ? I don’t see any negatives ? Just bought a few at 80p .. grab it while you can ?

[borisjohnsonshair] 14/1/2020 09:34

2020. FCF excluding debt servicing is 40,000 @ $1000 AISC plus 5000-6000 free. Development of Coringa covered with existing cash.

[cotton4] 14/1/2020 09:18

The cash generated each quarter would be sufficient to service any Wonga loan for the Coringa development. Yet they are using money for exploration activity especially outwith their current mining licence at Sa Chico. I can understand exploration within their current licence area to extend LOM etc. But to spend money on exploration activity outwith their current mining licence is strange when they could use the money to pay off debt. Success on this exploration would of course substantially increase their resource but they do not have the production capacity to anything in the short term with such a resource. Unless of course they will be looking to do something with a farm in partner and resolve production and financing issues in one move. Just thinking aloud - pure speculation on my part.

[borisjohnsonshair] 14/1/2020 09:13

Hi Edge - admire your dignified tongue in cheek post. LOL and jump on board my friend. It's still very very early.

[edjge2] 14/1/2020 09:02

home and dry for now. Storming performance. Missed the 63p chance!

[tightfist] 14/1/2020 08:55

Yes, very pleasing indeed with considerable clarity on the way ahead including the updated mapping and steady cash accumulation of around $1m per quarter. The progressive approach to overcoming future hurdles is appreciated. I am surprised MH did not emphasise that development progress was the best quarter in two years - and that the remaining Tailings stockpile was not more quantified although the grade is impressive. Progress on the Ore Sorter installation seems achingly slow!.In summary, we could not look for a lot more right now, next Q1 step is to see the funding resolution....... Leaving only 2.3% wriggle-room on production guidance is interesting..Cheers, tightfist

[borisjohnsonshair] 14/1/2020 08:28

Dry and happy or happy to be dry? Do you mean off the booze or not wet your bed?

[ironstorm] 14/1/2020 08:24

All seems tickety boo. Dry happy with this.

[borisjohnsonshair] 14/1/2020 08:04

Mind the gap. Stand clear of the doors please.

[borisjohnsonshair] 14/1/2020 07:44

It's lovely. I'm not sure why but I was nervous production was dropping when I heard about the financing extension. Unfounded but human nature. SRB is like a tin of beans that says "beans" on the outside, that has beans inside. We are progressing, without bad news, ticking boxes towards the 2021/22 output levels of 100,000 ounces. The MCAP now is a fraction of what it will be. AISC expected to be 900!!! FCF per ounce over $600 today. Do the math - this is a coiled spring. Mike can't give guarantees for work in progress but he must announce known issues. EVERYTHING is as we would like it to be.

[ppvn] 14/1/2020 07:24

A very pleasing update. Glad to see Coringa licensing seems to be progressing so well.

[sherry35] 14/1/2020 05:25

I'm not your research assistant honey. As they say in the investment world, "DO YOU OWN DD". You should know that by now. Right?

[trader365] 14/1/2020 02:44

Sherry - I task you with posting evidence to support these ridiculous outlandish claims...

"TA accuracy is based on liquidity or consistent daily volume. The higher the daily volume over a long period of time, the more accurate the TA indicators are"

I can see why you have that handle. I'd advise you to leave the sherry alone in order to spare ones liver and avoid further embarrassment

[backinblack80] 13/1/2020 22:53

BJH, please make SRB the focus of your posts and not poster 365. It's getting too much attention, which is what it wants....

[borisjohnsonshair] 13/1/2020 22:05

I guess in addition to his stock analysis, he spots a loser when he looks in the mirror. His wife, before she left him and went back on the game, saw a loser all over the house. His mum liked less young competition on the corner by the chippy for a while.

[borisjohnsonshair] 13/1/2020 21:51

He's a champion loser spotter. Just short his best picks and you'll be very successful. I have seen him ramp over 10 that have ultimately delisted.

[borisjohnsonshair] 13/1/2020 21:50

Yes correct. I recall Trader ramping this one to 20p. Said he'd put more than 50% of everything into them. No mention of selling so I assume a huge lose. What a classic idiot. Spends time trying to rubbish companies he has no interest in - why, yet brags about being exposed beyond stupid, in rubbish that tanks. Be good to trade the opposite of him over the past 24 months. His average is down 85%