Serabi Gold Share Discussion Threads

[ppvn] 12/2/2020 17:28

Just for the record - having held through that painful decline - there were two institutional forced sellers that caused the price to drop. Liquidity has never been a strength of Serabi which can be a blessing but is quite often a bit of a curse.

Anyway things got a bit quieter here today volume wise. Hopefully some interesting gambit will drop at some point. Nothing back from the broker yet re. Attendance card tightfist - you heard anything?

[borisjohnsonshair] 12/2/2020 16:33

I'm just politely pointing out the stupidity of your pointless post.

[borisjohnsonshair] 12/2/2020 15:03

Tiger - I agree totally but to pipe up and talk utter nonsense about the ore sorter "machine" breaking and the price dropping 50% isn't well intended. I'm sure that if the ore sorter was up and running and adding 25% to Palito output, went off line the price would drop. The drop would be disproportionate to the real impact. Wise people buy at these opportunities. It would be mended and the price with recover.

[tiger60] 12/2/2020 14:05

There are many risks here political risk, operational risk, geographic etc. A strike, flood, fatality etc all would be a major drag on the share price This is something that is hard to mitigate it is part of the risk/reward that PIs are prepared to take but there is nothing wrong with a poster pointing them out. We often dream as to how high it can go rather than dwell on the opposite. A good reason for a balanced portfolio

[borisjohnsonshair] 12/2/2020 13:43

I'm expecting an exploration update any day. Could be huge

[borisjohnsonshair] 12/2/2020 13:42

I think the concern was raised whilst playing with a toy train set. Anyone stupid enough to believe that a "machine", which hasn't yet been commissioned can completely break forever, will take half the MCAP off the biz is an idiot and probably not a significant holder in SRB. Particularly considering only 16% of a GBP50M biz is held by retail investors. Maybe it was intended to spook an institutional holder!!

[ppvn] 12/2/2020 13:36

If "a machine might break down" is the worst thing about Serabi's prospects that's pretty good imo... ha

[borisjohnsonshair] 12/2/2020 13:29

The ore sort is worth around 25p EPS. Will be added to existing price. If it went off line for a full year it would be removed. Simple. 50% off existing price is nonsense, however, I'm open to your elaboration.

[borisjohnsonshair] 12/2/2020 13:26

And I hope you do, in wealth, comfort and good health.

[sherry35] 11/2/2020 20:58

Hi tightfist - The discussion on the ore sorter and Coringa commissioning has been very stimulating. The board is returning to it's norm now that posters are playing nicely in the sandbox.

If the Palito ore sorter needs an additional "plug-in" capability or small operational changes to sort SC ore, this will definitely boost the annual production and reduce the cost through the remainder of the plant.

I do have 3 follow up questions as it pertains to through put through the entire plant.

1) What were the hours of operation of the Palito plant/mill prior to commissioning the ore sorter?
2) What is proposed hours of operation for the Palito ore sorter?
3) Can the ore sorter through put be increased to take advantage of the "down stream" excess capacity

Introducing a second ore sorter,to handle SC ore, will be more cost effective use of the"down stream" excess capacity i.e. reduced operating costs. The payload output from the current ore sorter was very small. I can see them running the ore sorter 7x24 and idling the "down stream" portion of the mill on weekends.It's very interesting problem -> how do you utilize the excess capacity and reduce mill operating costs? The re sorter comes with benefits and introduces new engineering challenges. Love it.

I'm pretty sure you know where I'm heading with these questions. Investors need to understand the 3 to 5 year business plan and the activities required to get to 100K oz. Boosting Palito mill head grade to produce 60K to 65K Au oz. with 2 ore sorters is one method that comes with low risk, given the experience gained by SRB and technology vendor, and idle capacity.

Will you be attending the forth coming GM meeting?

[trader365] 11/2/2020 20:35

It's all well and good having a shiny new ore sorter complete with promotion video to ramp the company to prospective investors, but I see too much premature back slapping going on. What sort of maintenance/insurance contract did Comer provide SRB with? Ie if the ore sorter breaks down who is responsible for the cost of repair? And more importantly the downtime? Who is responsible for the loss of profit? What measures have the company put in place to offset such a risk? If SRB had to issue a RNS to inform investors of an ore sorter breakdown the share price would collapse by 50%, so from a risk perspective; a single ore sorter with no insurance/maintenance contract massively leverages investor risk to operations/production breakdown

[tightfist] 11/2/2020 19:04

Hi Sherry,IIRC the OS has both vision systems (x-ray and colour) fitted as-shipped, but only one (not sure which one, but I think colour) was required at the Polish factory to sign-off satisfactory operation on Palito ore (which I believe is similar to Coringa ore but certainly differs from SC ore). I assume the OS could be readily flipped between vision systems to suit the ore feed, if/when its capability/settings are proven.I don't recall an OS being in the Coringa PEA plan, but stand to be corrected. At a stand-alone location I suppose an OS would only be of real benefit if the process plant nears capacity and Waste rock throughput needs to be minimised.Will you be able to visit the SBI booth when it hits Toronto soon? Cheers, tightfist

[alangriffbang] 11/2/2020 18:40

Definitely not you would be bottom of the pile , it’s all hard earned and money and promptly left to my wife and myself ,now it’s all mine !! I went down to my flat on Brighton seafront Friday and got stuck there because of the storms and London was on lockdown ,back home now ,at least it was a bit of excitement ,by the way Boris I intend to live to a hundred ,ha ha ha sorry ,

[borisjohnsonshair] 11/2/2020 17:50

Can I have some of your "hard earned" you old coffin dodger?

[alangriffbang] 11/2/2020 17:41

Don’t be daft Boris ,I don’t have a living relative , all my money will go to friends and charities ,I may start giving some of it away soon I don’t know whether the rule of living seven years still applies , anyway if you are as happy as I am life can’t be bad ,

[bomber13] 11/2/2020 16:40

I don't know Sherry to be honest . Someone needs to ask Mike about Palito's ore sorter capacity ( I can't remember it ever being publicised ) , but I am pretty sure nothing was factored into Coringa's PEA with regard to an ore sorter , so that is all upside .

[sherry35] 11/2/2020 16:29

Serabi moving intraday higher on TSX. YUGE 900 share volume has traded so far.

[sherry35] 11/2/2020 16:27

tightfist, bomber13 - Thank you for your insight on the utilization of the Palito ore sorter. I too suspect the SC ore is optically close to the Palito ore given the announced priority to test over the next 6 weeks. I'd also given thought to testing the Coringa ore through the sorter given the similar metallurgy to Palito.

Should it be determined that SC ore be prone to mechanically sorting, a second ore sorter will be required given the plant had to separate feeds for the SC and Palito ores. There could some small modifications made in the second ore sorter to increase the efficiency. I'm anxious to read about the results of the testing in the coming weeks. Commissioning a second plant will go a lot faster given the live working model.

Does the Coringa mine plan include a ore sorter?

[borisjohnsonshair] 11/2/2020 16:14

Time to convert 82% of portfolio to cash Old Timer

[millwallfan] 11/2/2020 15:43

Yes ,you and CD must be quite close ages I believe.