Serabi Gold Share Discussion Threads

[tiger60] 15/5/2020 09:01

Having a nibble - short term issues but the costs were a surprise.

A RNS released on a Friday is rarely good news. Didn't like the increase Admin expenses and the production figures for Jan and Feb must be truly disappointing.

The biggest black mark for me was there was no RNS in Feb calling out the mechanical failure when it has been mentioned more than once as the main contributor to the fall in production and rise in costs.

However, they did say there was a need to employ extra contractors for longer term objectives so maybe an anomaly in the costs above those already stated

What most people look for is to see if the accounts are qualified or not. There is a note under 'going concerns' but relates to the virus and is probably incorporated in all accounts for all businesses at the moment.

[kennyp52] 15/5/2020 09:00

To be honest Bojo .. if it dropped to the 50s it would be fantastic ... I would be piling in . But if thisis all its going to drop to and you can’t get a buy the chances are it will be back to 90 within a few days

[borisjohnsonshair] 15/5/2020 08:56

Yes. The short term issues don't concern longer termers. AISC circa US$900 when Coringa producing. Gold price rising. Massive gold & copper discovery. A mega find. This MCAP set for rise 10-20 fold.

[kennyp52] 15/5/2020 08:51

8,120 Oz of gold sold which obviously then causes IASC to increase proportionately . When production increases back to normal levels the AISC drops . It’s quite simple really and not really a huge concern - they produce more than sold . Slight optimism from within the RNS plus the completion of arrangement with Greenstone removing that uncertainty ...

“Cash flow generated from operations was approximately US$2.2 million but does reflect an increase in inventory levels during the quarter of approximately US$1.4 million reflecting in part the variation between production for the quarter of 9,020 ounces compared with the realised sales in the period of only 8,120 ounces. The variation results from timing differences between production and the recognition of sales due to the departure dates of vessels carrying the Groups copper/gold concentrate leaving Brazil and the delivery of gold bullion for final sale” .

[kennyp52] 15/5/2020 08:37

COVID deaths causing the drop ... despite a certain idiots opinions that COVID has / will not impact . If that certain “idiot” read the news he would know this is the reason .

[trader365] 15/5/2020 08:27

Now what was I saying about a double top?

[borisjohnsonshair] 15/5/2020 07:23

It wasn't expected to be "impressive". It was as expected to be though.

[borisjohnsonshair] 15/5/2020 07:14

It's solid progress plus they had a mechanical failure, so costs up, output down. Progress and financial stability is the objective. Once the risks has gone re Covid & Coringa plus development started the reality of 100,000 ounces nears. We have the massive bang of the exploration resource estimate in the coming months. You don't wanna be out when that news is released!!!!

[brasso3] 15/5/2020 07:05

That is not very impressive!

I do not recall the AISC being as high as US$1,257 per ounce?

[loganair] 14/5/2020 20:32

Brazil Covid 19 - Confirmed: 196,375 - Deaths: 13,555

[loganair] 14/5/2020 15:46

Current price of gold has just past 10,200 BRLs, another record high in local BRLs.

[tightfist] 14/5/2020 15:33

Last year's Q1 results were announced on 15th May..... Hopefully the super-weak BRL will start to shine through in the $ unit costs; so far it seems to have been elusive?.The Q2 and H2 numbers will likely be fogged by exceptional costs incurred with the COVID precautions?

[loganair] 14/5/2020 15:15

5.96 BRLs to the USD and expected to fall much further therefore I firmly believe we'll see gold at 12,000 BRLs in the not too distant future which means the price of gold in local BRLs would have risen by around 150% in a year.

Luckily 85% of Serabi expenditure is in local BRLs.

[borisjohnsonshair] 14/5/2020 15:08

Titchy trade takes it down. Don't worry, it'll rocket into the 100s soon

[ppvn] 14/5/2020 14:55

Gold now seems to have made up its mind. Was thinking this seemingly impenetrable barrier around the mid-90's could be to do with River and Mercantile. Will keep an eye out on the RNS' and if there is another may take another nibble if and when they are close to finishing!

Nothing suspicious in my view but could explain why our share price isn't where I'd thought it would be by now!

[borisjohnsonshair] 14/5/2020 07:15

Hey BB80, I'm in the same ballpark - 120-150p as is. Upticks if Covid suspension risk gone, Coringa license approval and finance finalised. Happy with things ticking along at the moment - making money each week, which makes a suspension or labour related issue more affordable (it's easily affordable now) but better after debt cleared after June. If output continues well not need CL to settle US$12M for Coringa. Not sure if future cash flow can then drip finance Coringa development. I see these issues tidied up and self or CL finance in place with license and development started by year end. Then 200p, leading to 300p as we approach production on Coringa. Exploration successes or partnership will be massive jumps on top. As I said 500p over the coming few years, perhaps 20% diluted for the CL

[backinblack80] 13/5/2020 22:45

Boris, imho £1.40 plus per share. The exciting thing for me though is that the potential here is huge...

[borisjohnsonshair] 13/5/2020 16:28

Big push over 1 quid tomorrow

[borisjohnsonshair] 13/5/2020 14:49

What's your opinion BiB80, on fair value as we stand now?

[backinblack80] 13/5/2020 14:36

Yawn.........

[tiger60] 13/5/2020 14:27

'tiger60, fooling no one....'

Just sad. I have been very transparent. I am a strong supporter of the bull market in gold and looking to leverage the increases by selecting small scale producers. But mindful of any pullback in the markets will also drag down those companies that look safe havens on the surface.

I am also a fan of SRB have traded in and out. I try to mitigate risk and look at the daily trade volumes, gold price, operational and market risks. Is that bad?

It is sad that people get defensive of a stock just because they are invested. That one eyed approach will only lead to trouble but prevalent across many investment boards.

[loganair] 13/5/2020 12:21

Republican Senators introduce China sanctions bill.

Democrats put forward 4th stimulus/aid package bill for another $3 trillion on top of the $3 trillion stimulus/aid package that was enacted only 1 month ago.


I can see both bills being passed with the Republican supporting the Democrats on their bill and the Democrats supporting the Republican on their bill so both bills I believe will be passed.

[backinblack80] 13/5/2020 00:26

tiger60, fooling no one....

[borisjohnsonshair] 12/5/2020 19:30

Remarkably profound!