Serabi Gold Share Discussion Threads

[borisjohnsonshair] 20/5/2020 12:59

We've all got access to this info, thank you.

[loganair] 20/5/2020 12:12

19 May Brazil Covid 19 - Confirmed: 271,885 - Deaths: 17,983

17 May Brazil Covid 19 - Confirmed: 241,080 - Deaths: 16,122

16 May Brazil Covid 19 - Confirmed: 233,648 - Deaths: 15,668

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

[borisjohnsonshair] 20/5/2020 11:00

You only wake up each day in the hope the SRB workers on site have site throats and a painful dry cough. You are such sad pond life. Brazil hasn't shut down, neither did Sweden. The virus runs its course regardless. Europe lagged China, the UK lagged Europe, the US & India lagged UK and South American lagged North. Brazil has 200M people - I don't think it's peaked but it will run its course. At a certain point in the cycle a shut down of the economy makes no sense - it's too late. Get back under your rock you disgusting individual.

[loganair] 20/5/2020 10:48

"You’d think the economy was booming. Stocks are up, commodities are rising and the biggest inflation canary of the lot, silver, is going ballistic, up almost 30% in little more than a week."

[trader365] 20/5/2020 10:47

Brazil cases up 137% in just 15 days. Jair Bolsonaro is living in denial, same as some people here.

[borisjohnsonshair] 20/5/2020 10:13

That's the end of the retrace. Next rise will clear resistance and take us over 100p mark. Long overdue.

[borisjohnsonshair] 20/5/2020 00:35

https://youtu.be/G9BZ43_cjNU

[borisjohnsonshair] 20/5/2020 00:25

The calls are video calls you can find on links in the news - Crux is one I believe. They are very good.

[sherry35] 19/5/2020 22:10

BJH - Based on use of the word "calls" in post 6293, are you having one-on-one voice dialogue with MH or another SRB executive? MH never returns my "calls".

[borisjohnsonshair] 19/5/2020 19:52

That's great work. I believe in one of MHs calls he mentioned additional costs with quarantine.

[bomber13] 19/5/2020 19:00

Whilst Q1 2020 was a bit of a shock horror on cash costs per oz for exceptional reasons , there is every chance that Q2 could be a bit of a humdinger .

Mike Hodgson has publicly stated that 85% of cash costs are in Brazilian Real . So , taking him at his word , I have converted 85% of cash costs from US$ into Real at average exchange rates , which is what Serabi uses .

In 2018 the average quarterly run rate in local cash costs was R23.3m , and in 2019 the equivalent figure was R28m , which takes into account the increased activity at Coringa and around the Palito complex . In Q1 2020 , 85% of cash costs came to R34.3m , R6.3m above the 2019 average , or the equivalent of US$1.4m . This extra expenditure reflected mill repairs , increased underground drilling , and stockpiling of key consumables , whilst the ore sorter was only in full swing for March alone .

For Q2 2020 , if you assume no COVID 19 interuptions ( fingers crossed ) , a conservative 10000 oz of production ( it should be more with the ore sorter ) , more normal localised costs of , say , R30m ( 85% of the total ) , and an average exchange rate of R5.50 to the US dollar for the quarter , total cash costs per oz of production may only be US$650 as against US$996 in Q1 .

AISC per oz have been a predictable US$10m higher than cash costs in a full year for the last 2 years . So , assuming US$2.5m on top of cash costs , that gives AISC of US$900 for Q2 , as against US$1257 in Q1 .

Such is the power of increased production and the exchange rate . In 2018 , the Real averaged R3.65 to the US$ , in 2019 it averaged R3.94 , and in Q1 2020 it averaged R4.46 . The run rate for Q2 2020 is potentially a whopping R5.50 .

So if gold hovers around US$1700 for Q2 , and Serabi's cash costs are around US$650 per oz on 10000 oz of production , Q2 will actually turn out to be very much all right indeed .

[trader365] 19/5/2020 10:11

£400k a year in salary and bonuses, and $6 million in admin expenses seems a little extravagant for a company with a 50m cap. Is SRB funding his holiday home in Brazil?

[borisjohnsonshair] 19/5/2020 10:00

I have a very diversified portfolio- locked down as "old" so time on my hands.

[borisjohnsonshair] 19/5/2020 09:59

Hope! We all know there's an injunction keeping you 500m from young people

[trader365] 19/5/2020 09:55

I “hope” there are no young aspiring investors here being subjected to your foul language.

60p may well arrive again.

It must be very frustrating watching a single share portfolio rise and fall, if you diversified your portfolio it may improve your mental health and well-being? Just a thought.

Mean while MH has been singing the 100koz pa tune since 2007, he’s a great salesman and being paid 400k a year to sell his wares to people like you.

[kennyp52] 19/5/2020 09:20

If you have no hope then you are a sad shell of a human being

[trader365] 19/5/2020 08:48

I note the words hope and hopefully are being used more here. Hope is not an effective investment strategy

[kennyp52] 19/5/2020 08:34

Hopefully on the decline now Boris in Europe and USA . Those countries with high UV exposure on the whole aren’t getting the infection rates so hopefully it does have something to do with keeping the numbers down . In respect of Serabi .. are we going to have to wait now for the next RNS to dictate the next move on the share price ? Sitting quite comfortable with the luck of having cash on 31/3 when it fell to 50.95 so not exposed to holding this long . MCAP at £50m says it all . Let’s hope production can be increased even in this environment and the company start reaching its true potential. You still in GLEN Boris ? Starting to come back to life . CEY hit the 180 at last yesterday. Not many shares are going to be paying dividends in the next 2 years and I think there is a bit of misguided money going back into the markets at the moment . Good luck

[borisjohnsonshair] 19/5/2020 08:22

All interesting info on UV but it not too heavily on my mind - trees, shade, virus under park seats!! This is sweeping round the work and I'm sure the worker camps & work environment isn't conducive to social distancing. Its going to be hard to avoid, however, they're doing their best to rotate with quarantine. Should it unfortunately get into the site, I hope all cases mild and that a shut down is short. We can afford 2-3 months no problem and it doesn't effort the end game - just delays it a few months and loses us a few million US cash in the bank. If it shuts and drops, I buy more.