Serabi Gold Share Discussion Threads

[ironstorm] 27/10/2020 08:57

Yes kenny my average in the 40s gives me comfort too.

If u are newly in I guess it must feel more exposed.

[kennyp52] 27/10/2020 08:34

Glad I bought in the 50s and not the 100s !

[tiger60] 27/10/2020 08:20

I agree in some respects life of mine figures are somewhat invisible to us but isn't narrow vein mining by its nature hard to source up? I seem to remember a figure of 500,000 oz given to Coringa at a production rate of 38,000 a year would give 10+ years (with MH stating there was more to come)

As to the major well my original interest was raised when MH mentioned it earlier in the year about 2 companies being invited on site to look at their data but that was it. Majors are not interested in small scale narrow vein miners in general. Like you say if we can prove up resources on existing or new tenements and there is any element of open pit mining (any chance?)then we may get a bite but that seems a long way down the road.

However, we are lucky we are not solely working within the parameters of the company actions. Currently we have a historical moment in time with fiscal economics both by national banks and governing parties let loose. Once the elections are out the way and stimulus package agreed in the States (and further ones all across Europe)then MH, SRB and shareholders will be rewarded - rather it done by skill at a micro level than consequence of macro environment but happy to be in gold. Maybe another discussion about which one....

[ironstorm] 27/10/2020 08:16

Tiger I am not too despondent- despite the negatives I have posted.

I think we have near term developments that should allow growth - if executed well - and then there is Coringa. This is where the gold price has helped as it has allowed us to reduce debt and acquire the asset without massive dilution.

I would of course like all of this accelerated. I think MH is the man with the vision. As said above we need the man with the plan.

[sherry35] 27/10/2020 02:50

tiger60 - Not buying the double in 12 months based on side ways POG. One the share price influencers is the wealth in the ground. SRB hasn't drilled enough ounces (proven) to make this an attractive buy by majors. This is why it's a living dead company.

How much Au is in the permitted areas? What is the mine life for SC, PL and CR? Major isn't going to buy SRB with 3 years of mine life out of two producing mines.

MH mentioned a PL drill being above ground very soon. This will put two drills in exploration drilling. Are these drills being vectored to SD for the "drill or kill" drill program?

This company's value is primarily determined by the economical mineable ounces in the ground. The secondary being the operating mills and political climate. So, how many ounces are in the ground? Question I keep bringing up on this board.

Like tightfist pointed out to me, conservative MH is showing some tenacity in chasing the SD prospect. "how many ounces are in the ground?"

[backinblack80] 26/10/2020 23:56

Good post, tiger60 Totally agree..

[tiger60] 26/10/2020 23:11

Let’s not get too despondent. The gold price is working its magic our pnl looks good. The current valuation is less than fair purely on a production basis let alone with potential resource uplifts. However, it shows the damage the misguided statement on 14th August has caused due to setting false expectations.

Fluctuations come with the territory but if gold stays around 1,900 plus for 12months the share price will be double. And if SRB can come to the party and produce at 40,000 plus in 2021 then we are good if not 12 months behind schedule.

[sherry35] 26/10/2020 20:08

Is the share price heading back to the CLS strike price?

[sherry35] 26/10/2020 20:06

IronStorm - The statement "luck of the PoG increases" is absolutely correct. It was mentioned a couple of days . Someone mentioned put hard questions to the mgmt. team. Perhaps it's time to contact TSX Compliancy group to ask for ZOOM type quarterly financial meetings inline with other TSX listed Au companies. This won't please the institutions having TSX folks nosing around.

Ever hear of the term "living dead company"? It's is used by VC investors when classifying possible outcomes of a startup. Think about it given MO and mgmt. style.

We need stronger mgmt to steer this company at a faster pace.

[ironstorm] 26/10/2020 19:36

MH never gives an end date. This is progressing but it is not disciplined.

At this point I am not saying MH should do. But they need to get in a strong arm Ops person. They can afford thanks to the luck of the PoG increases.

Taken his eye of the ball 8mam afraid. It’s not the first time.

Time to get a grip and maintain it. The vision is great the execution wanting.

[sherry35] 26/10/2020 17:11

BJH - To further add, the Gnatt chart (project plan) on slide 9 of the investor presentation is missing the commissioning milestone ("first Au pour') for the Coringa plant. When does the Coringa plant go into production (commissioned)? 4Q22? What is the ramp-up duration as they work out the kinks?

My high tech mentor instilled upon me to ask the question "What's the plan?" in all my professional activities. The plan can be a project plan, SOP or meeting schedule. Every activity requires a plan for direction and success.

The Gnatt chart (project plan) on slide 9 falls short in the company's ability to increase revenue by disclosing all the steps in commissioning Coringa. Are the missing activities left out on purpose? Is the mgmt. team afraid of having their performance measured? I bet the institutions are wondering the same thing given the last 3 years. What about the farm-in folks?

Don't get me wrong. The permitted areas have the Au goods i.e. the wealth is locked in the ground. The key word is "locked". The problem is economical expeditious mining of the locked wealth. Expeditious is not part of the mgmt. team's vocabulary.

You need to re-assess your "have been good" view of the mgmt. team.

[borisjohnsonshair] 26/10/2020 16:31

Anyway, it'll work in our / my favour. I'm buying each month as much as I can afford.

[borisjohnsonshair] 26/10/2020 16:31

Ummmmm - I think the management have been good. It's the market I don't understand.

[sherry35] 26/10/2020 16:14

BJH - Welcome to SRB. It plods along a slow conservative pace. It needs new mgmt. share price heading south speaks to SRB's mgmt style.

The Gnatt chart (project plan) on slide 9 of the investor presentation is lacking in follow through. For example, is the introduction of the ore sorter complete in 1Q2020. What does "introduce" mean"? Does it mean commissioned (into production)? The ore sorter was "introduced" during 1Q2020 but not commissioned into production. It was suspended at the end of 1Q2020 due to mgmt imposed C19 resource restrictions i.e. reduced staffing. Mgmt needs to identify another activity on the Gnatt chart for the commissioning of the ore sorter into production which is now 4Q2020. Maybe 4Q2021? What other activities are missing? Is the project plan (slide 9) indicative of inexperienced mgmt. team? Doesn't the mining industry have boiler plate plans for various mining activities?

Take SRB's Gnatt chart (project plan) and compare it to other Au mining juniors that are in a expansion phase. Even the Crux interviewer dude is asking the question "What's the plan?" when he inquires about the top 3 priorities, or number one priority. So, if I'm asking this question and the Crux dude is asking the same question, are the majority share holder insitutions asking the same question? DAMN RIGHT THEY ARE!!!

Lets compare production between SBI.TSX (SRB.LSE) and MND.TSX over the current year 2020. SRB's production will fall short by approx. 10%. However, MND just recently increased their production forecast by 7000 Au eq. ounces to average 100K au eq. ounces for 2020. In MND's case, C19 is a mosquito hitting the MND windshield at 100 km/hr.

Are you starting to get the picture about the mgmt style.

[sherry35] 26/10/2020 15:30

tightfist - The only reason conservative MH is moving fast on SD "drill or kill" drill program is due to the extensive geophysics, drill assays and fully permitted mining licenses established by the prior owners. MH mentioned artisanal mining at SD. If the licenses are already in place due the mining operations conducted by the prior license owners, move the Coringa plant to the SD site. This on going license stalling "since 2019" is getting old. C19 is in the rear view mirror.

Nope. Not buying MH's new found aggressive mgmt style. Even his mannerisms on the last two videos supports my impression.

[trader536] 26/10/2020 15:15

Woof woof lol

[borisjohnsonshair] 26/10/2020 15:03

Yeah I know a long way to go re cash ...., and it's all spent on Coringa acquisition & development..... but ROI incredible.

[tiger60] 26/10/2020 14:54

MCAP £54m Cash $11m! A long way off

It is the first time as a holder I have a bit of a grievance with MH (not counting the share options!). Mid August stated that Qtr4 back to historical production levels and then to say it was obvious that the impact of Covid would be a restraint on production into Qtr 1 2021 seemed a bit off considering. And as pointed out elsewhere it was naughty not to qualify that the positive $4m cashflow also included 0.5M drawdown from Greenstone in July. (Any company can borrow money and then claim positive cashflow!)

Still the cash position is very good and no recourse to further funding is guaranteed for a while, although cash burn may hit 0.5M a month later on. If gold holds up around $1900 or above then we are sitting pretty.

[borisjohnsonshair] 26/10/2020 13:50

Yep. It's passing me off. It was under valued before, just made another US$3,6M in a quarter during coved, is ramping up production & exploration plus developing Coringa. Stupid effing market!!! Soon the cash will exceed MCAP. That's how stupid a direction we are going.

[tiger60] 26/10/2020 13:28

Well that update was definitely a momentum killer. Now we need to reset and go again - heres to good exploration results and an increasing gold price.

[tightfist] 25/10/2020 22:35

Hi Sherry, I have seen your comments. However, I really don't understand your reservations. MH has made it quite clear that Coringa is the priority - but that exploration (and SC tenements expansion) will also continue. .The acquisition of the SD tenements was only announced on 19th Oct but on Thursday the 22nd they mentioned that access roads to the SD Toucano drill sites were already underway. Isn't that timeline sufficiently aggressive?.I don't foresee MH or CL betting the farm on a speculative manoeuvre, just methodically working their way through the opportunities to develop the future shape of the company..Cheers, tightfist