Serabi Gold Share Discussion Threads

[borisjohnsonshair] 15/11/2020 13:49

Great future as profits will be 8 times higher in 18 months.

[borisjohnsonshair] 15/11/2020 12:06

Yes. Let's get Coringa fully acquired & the license finalised.

[cotton4] 15/11/2020 06:31

Post tax profit for 9 months (2020) $ 7,858,409
Post tax profit for 9 months (2019) $ 2,849,341
Increase 274%

Movement in share price - nil

Do we have a slight disconnect?

[ianpuddifoot] 14/11/2020 17:30

Trader are you for real have you actually researched this share, there have been a few issues over that period but to be honest its a no brainer now to be invested, you will miss the boat unlucky!

[sherry35] 14/11/2020 01:54

Well well well ... called this one. So, which hydro-carbon producing country is the USA going to attack in the next 4 years?

[tightfist] 13/11/2020 22:55

"........These amazing fundamentals justify much-higher stock prices after this correction ends"I found this article assessing the 25 lead GDX contributors' performance very useful indeed in setting context against which to view SRB/SBI - and its observations frequently sound very familiar to SRB watchers:hTTps://www.mining.com/web/gold-miners-q3-2020-fundamentals/Cheers, tightfist

[sherry35] 13/11/2020 19:18

tightfist - What is your take on the source of funding for the"Advance financing package" as it it applies to the Coringa project's plant assembly and other site developments?

[trader536] 13/11/2020 15:46

It seems there’s only 13 months in SRB salary year, you were warned to dump this mut before it tanked woof woof 🐕💩

[tightfist] 13/11/2020 10:18

Yes, the 13th month is commonplace in many countries, even in mainland Europe. I suppose a sort of company-enabled savings bank? But it seems they don't accrue for it (not sure if it was mentioned in the context of an expense or cash item?) so I estimate 31% of wage costs are incurred in Q4 (as opposed to 23% in Q1-3) which would be a not insignificant irregularity..I noted this morning that the forecasts quoted by Stockopedia will now need to be trimmed back - currently revenue of $65.2m in 2020 followed by $89.0m in 2021. With a PPE=2.7 I am not sure anyone thinking to Buy is taking much notice of the broker's fundamentals!.And yes, operationally the choppy seas of 2020 have so far been navigated rather well - just a shame that we weren't warned a lot earlier about the anticipated hangover!.Cheers, tightfist

[stan72] 13/11/2020 10:13

13 month salary is standard in Brazil you ignorant muppet

[kennyp52] 13/11/2020 10:11

IMO a revealing set of figures which confirms the reality that current POG is covering the Covid issues and masking the financial impacts . Still very concerned that full effort should be put into returning to full production but even so take a look at the EPS year to date . Hugely undervalued IMHO but needs the niggling doubts about production removing to get some confidence behind it and / or resource news or maybe even the suggestion of dividends . share price reaction is very muted .

[imastu pidgitaswell] 13/11/2020 09:04

A lot of jurisdictions do this - yes, it is effectively a bonus. Basically making 52 weeks into 13 periods of 4 weeks - so a 13th 'month'. In pure accounting terms, they should be accruing for it throughout the year, so there would not be a 'hit' in Q4 and the cost would be accounted for smoothly over 12 months. But there is (presumably) a qualifying term meaning it is not payable until (say) the worker has been employed to end of November. Or maybe they just pay people every 4 weeks, so 2 paydays fall in December.

All a bit too much detail frankly - the key variables are production and metals prices.

Not sure why everyone bangs on about AISC - it's just a residual calculation. The important issues are what are the costs themselves, and whether they are they growing. AISC is just total costs including replacement capex etc, divided by production. If production falls, AISC goes up. The issue to moan about is production - AISC just goes up because of the production problems, which are due to the pandemic. And they are doing a sight better than many of the other miners around the world.

All a bit dull in those results. A lot of retail investors in for a quick buck moving on (perish the thought...) I'm happy to add a few more - but this is only a small thing for me anyway, part of a portfolio.

[trader536] 13/11/2020 09:02

13 monthly salaries in a year lol

MH milking the cow from home now

[tiger60] 13/11/2020 08:53

'With exploration and mine development activity being stepped up together with the usual higher labour expense of settlement of the standard “13th salary” payments that are due in November and December this will impact on the level of cash generation for the rest of the year. Nonetheless I expect that if our production estimates are attained the Company can end in the year in a comfortable financial position.'

Can anyone expand on the '13th salary'? Presume it is a month bonus payment. If that is the case need to factor in an extra months wage costs for qtr4 when working out base case projections

[borisjohnsonshair] 13/11/2020 08:35

The full amount will be cleared by Q1. US$6.5M to go at the end of Q3, so US$500k left by the end of Q1 2021. This will be the status with a) no debt and b) probably circa US$15-16M in the bank!!! Excellent use of the very difficult 2020.

[ironstorm] 13/11/2020 08:25

Cash machine status is confirmed by these results. Predominantly down to PoG. But you takes your luck where you can find it.

One or two qualifying statements in there, for this quarter and next, but cash is king.

[trader536] 13/11/2020 08:24

As predicted AISC through the roof, this dog going nowhere woof woof 🐕💩

[tightfist] 13/11/2020 08:21

One senses a transparent "tell it as it is" approach from CL this morning. There is considerable emphasis on 6 month catch-up from COVID fall-out so continuing patience will be required. Good to hear confirmed that Toucano drilling will commence in Q4 - speedy!.Interesting that only brr picked-up on physically progressing Coringa, otherwise viewed as an ongoing drain on cash! Not sure how tight things would become if international travel is resumed in Q1 and Equinox are paid rapidly the outstanding balance?.Steady as she goes! tightfist

[interceptor2] 13/11/2020 08:17

Respectable results considering the difficult condition this year, I would think a full year EPS of 16p looks fairly conservative.

With normal production expected to resume from the start of Q2, we could see the interesting prospect of a 20% reduction in AISC, alongside a similar 20% increase in production. That would be a rather powerful double whammy for the company and that doesn't consider where the gold price will go next year.

[tiger60] 13/11/2020 08:17

Down 1.5p on IG! 84p