Serabi Gold Share Discussion Threads

[sherry35] 23/7/2020 21:24

All - I maybe experiencing a blonde moment here. ADFVN shows 683,291 SRB shares traded today (with a nice close mind you). Yahoo finance shows SRB.L trading 276K shares. Is ADFVN summarizing all the SRB trades across multiple exchanges? Are these trades executed outside market hours?

Canadian exchanges show a combined 8100 traded shares for today.

[tightfist] 23/7/2020 18:27

Hi Redtrend,.Yes, I was maybe being over-prudent, but we don't yet know how COVID precautions are going to slow things. Looking back at Palito build and commissioning timing, they were on-site for 17 months before Commercial Production status was attained on 1st July 2014. They were however mining and stockpiling ore at 12 months. My conservative Jan 2023 estimate was for CP..IIRC they acquired some basic, sited but disused process plant at Palito. I am not clear on how much work is needed to remediate and site the imported plant at Coringa. I fully expect them to install an Ore Sorter from the get-go, funded from contingency, after trial ore has been processed through Palito..Cheers, tightfist

[tightfist] 23/7/2020 18:07

Hi Sherry,.Yes, no mention of the Ore Sorter in the RNS; you really should take note of the CRUX interview where it features heavily, early-on. As they were (unusually for SRB) mine-limited (due to reduced manpower) they took the pragmatic decision to put all the RoM ore straight into processing and max-out production, even if it entailed lowering grade. They foresee that continuing in Q3 until they can raise manpower back to normal..Other points: The steps to Licencia Previa are explained on CRUX, and the final hurdle of the Environment Committee which has never, so far, met virtually on Zoom. MH seems to be playing with the idea of initiating mining before LP is granted?.I suspect PI's are getting ahead of themselves on the farm-in prospects. My reading now is that they want to accumulate lots more proof/potential statements of what realistically is in play, ready for negotiations some while away - but what do I know......The H1 financials are expected in about three weeks time; maybe CL will do a video overview then..Best regards, tightfist

[sherry35] 23/7/2020 15:58

tightfist - Thank you for moral boosting words.
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MND traded big yesterday on the Tri-Act dark pool and Chi-X. The former has no visible Level II and BID/ASK. 1% of the O/S traded during the day in 80K size blocks. The latter (Chi-X) services two Pacific RIM countries one being Australia. The Chi-X 89K share trade went through 7 minutes after the market closed.


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Great update from SRB & MH. No mention of the ore-sorter. Will there be a quarterly financial general meeting to ask questions? With 3rd quarter underway, I suspect the camp expansions should be completed by end of August.
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We are very close to obtaining the "Licencia Previa". As do we all, let's hope the organic cash flow reduces the draw down on the CLN.
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I wondering about cash-flow from a earn-in/farm-in/blah-in. This would further reduce the draw down on the CLN. Do you think the post-poned drilling and exploration may have impacted the earn-in? I would definitely want more geo physics data to minimize giving away the farm to a major.

[redtrend] 23/7/2020 14:21

CRUX - another great interview with some probing questions and adds lot of meat to the already meaty RNS, so thank you.

Once by late Q3 they get back to 100% workforce again + ore sorter, you could see annualised production of 44-48k Oz (11 – 12K Oz per quarter). As ore sorter should add 1-2k per quarter on top of the usual 10k Oz in normal times.

Tightfist - thanks for info. I just had quick check of the last “Corporate Presentation PDAC – February 2020” and based on the old timeline pre-COVID19 of full permits by 1H 2020, SRB expected Coringa to be in production ramp-up by end 2021 (18 months lead time). So perhaps more optimistic than your Jan 2023 date, if by Q3 2020 they have the main approvals in place, by end 1H 2022 (which would include 3 months float for delays etc.), could see Coringa fully ramped up.

[borisjohnsonshair] 23/7/2020 14:20

Correct but not a complicated business financially. They cleared that and spent it on clearing debt. Q1 was messed up with mech failure. Q2 FCF a clearly indicator of EBITDA than Q1 P&L.

[borisjohnsonshair] 23/7/2020 14:19

Correct but not a complicated business financially. They cleared that and spent it on clearing debt. Q1 was messed up with mech failure. Q2 FCF a clearly indicator of EBITDA than Q1 P&L.

[tiger60] 23/7/2020 13:52

Profit is not equal to cashflow.

Anyway impressed with the RNS. In Qtr 1 Serabi made PnL $0.77m. What we got today were the headline figures we do not know the cost of production so it is hard to guess at the bottom line but i expect the movement in the gold price was a welcome boost.

[borisjohnsonshair] 23/7/2020 13:27

Mick - they made US$4M in Q2. Same expected in Q3 and much more in Q4 as an extra 1,500 ounces of pure profit, circa US$6.5M Q4.

[mick1909] 23/7/2020 13:24

Will srb make a profit with only full years production at 34koz?

[tightfist] 23/7/2020 11:11

The CRUX interview is highly recommended; a great relaxed and open style. Shines some light on the lower grade (and Ore Sorter hibernation) whilst in Q2 & Q3 the mine is stretched to fill the process plant with RoM ore..As usual CRUX drive the conversation towards the (suspended) exploration work and potential beyond the existing Palito and SC operations,.Cheers, tightfist

[borisjohnsonshair] 23/7/2020 10:42

I don't see the two large partners forming a cartel, to take out the rest, then own & operate, whilst trying to sell to a major! They'll sit tight as Coringa comes into production and the mega field proven. Then SRB will be squired for US$1-2B. They'll be winners, the Directors will be with their share options plus also us tiddly retail holders, collectively 16%.

[millwallfan] 23/7/2020 10:17

Bjh yes I suppose so and combined with the fact only circa 60 million shares so tightly held. Whilst this is mainly a big positive this carries the risk of a takeover by major players or perhaps more likely the Fratelli/greenstone / director holders with 60% at a price not reflecting true future value , which IMHO @ 80,000 oz gold pa and average price even at $1800 and p/e of 10 has got to be £4 plus by 2022. I cannot bring myself to even dream of 100,000 oz and gold over $2000 !!!!

[cruxinvestor] 23/7/2020 09:34

Hi here is the link to our recent interview with CEO Michael Hodgson of $SBI:

Our latest update with Brazilian gold-producer, Serabi Gold. Gold has been on a bull run, but Brazil has struggled more than most to mitigate the impacts of COVID-19. Exploration has been curtailed for now, but plenty is on the horizon and it looks exciting for gold investors.

Serabi Gold should be able to finance its exploration from cash flow, and its strong cash position can be used for a variety of strategic purposes. It currently awaits its mining permit for Coringa before gold production can really get moving.

Average grade is down and total mined production is down, but only slightly, and both for logical reasons. The new ore sorter could completely alter Serabi Gold's value proposition once it is fully integrated into the entire Serabi Gold production process. Promising times are on the horizon for this gold player.

Let us know your thoughts

Subscribe to our channel youtube.com/CRUXinvestor

[borisjohnsonshair] 23/7/2020 09:30

Don't worry fella - youve still got a bargain. Enjoy the golf!!

[millwallfan] 23/7/2020 09:29

What a muppet I am!! Had my finger on a top up first thing at 80p not knowing update was out!, let it go then couldn’t buy any for a short while till finally paid 85p grrrrr and that was only for a £2k spend. Off to golf to throw a few clubs about lol

[borisjohnsonshair] 23/7/2020 09:21

Wow - look at gold go. SRB is a gold mine!!!!

[kennyp52] 23/7/2020 09:04

Agreed imastu .... too many people have been victimised by this nerd . More bans coming?
Can we ban him from here ? He adds zero credible posts ?

[borisjohnsonshair] 23/7/2020 08:58

Well said indeed

[imastu pidgitaswell] 23/7/2020 08:47

6853 - no, he 'changed his mind'. Great traders do that, he says.

I just don't have the vocabulary (neither does he, or indeed any) to express how deluded the moronically inept cretin is. Every time you pin him down with one of his pontifications, and with the clear contradiction, usually in his own words, he has 'changed his mind'. Be it trades, fundamentals, charts, pandemics - he has this bizarre disconnect between what is real and what he thinks is real.

And then he attempts to rubbish everything you do, stating lies and illogical deduction as to what you have been doing. In a desperate attempt to shoot the messenger. You than contradict him with the facts, and point to evidence. Which he then ignores and resorts to further lies. All a bit (a lot) Donald Trump.

I doubt anyone can ever get him to admit error, uncertainty, nuance, detail. As to why he needs to self-affirm, there are deep psychological issues. Fundamentally a personality disorder. Best just left.

[tightfist] 23/7/2020 08:40

Hi Redtrend,.I think a fair estimate would be 24 months lead time from the get-go of a trial licence and commencement of portal excavation. .They do have the third-hand process plant already on-site ready to be refurbished, but I believe underground there has been no activity to-date. They may reduce 24 by a few months and generate some early cashflow, pre-commercial production. I anticipate formal CP date will become 1st Jan 2023?.There is also the prospect of reworking the flow sheet to integrate an Ore Sorter, which curiously did not get a mention in this morning's RNS?.Cheers, tightfist