Serabi Gold Share Discussion Threads

[tiger60] 15/1/2021 07:05

7,254 qtr 4, 33,000-36,000 guidance for 2021 which contradicts everything prior about getting back to production rates post Qtr1 and again when set against the presentation calling out annual production of 40,000 is a kick in the teeth. How on earth could they publish the dec presentation in good faith. No wonder people have a gripe with management. The presentation was disingenuous. Peel Hunt was bang on when estimating 2021 production and now that aligns to official guidance

(13th Nov RNS guidance of 8,000 given - if Dec prod was 3,000 I can’t fathom how this figure was published with Oct prod being circa 2,000)

That said we are priced for this news. External factors ie the gold price has been the primary driver for growth over the year not micro level company news

I understand management are an easy target and to a large extent others may not of faired better but consistent messaging is vital. They talk about under valuation to peers based on comparable tangibles but intangibles like management ‘worth’ warrants introspection.

[sherry35] 15/1/2021 04:54

tightfist - They apparently have the right man. I'm over the neuron-toxin flood with my intestinal disability withe the ma-absorption ended with AE herb. Moods are level, back to investigating and kibitzing. Job creation is very good incentive.

MND hit $2.5o today. Check today's PR. I think they'll buy out Equus on AXE with cash and shares. Quus has some funky farm-in MND's Cerro Beyo Au/Ag imne in Chile. A underground water accident and religious leader forced the operating mine into C&M for 3 years. Resurrection is underway by MND and Equus. Equus trades on AXE for 1.6 p and has 1.6B shares. I hope I got that right. Market cap is $23M Aussie dollars. I'd take given MND's cash flow and generation.

Mills leaked a copper initative with the another Chile property and surrounding miners. Google that that tidit.

I need MD at $4 share price by year end. Nede to pay some debts and by a Trek boone.

"Blink damn you" SRB.

[kennyp52] 14/1/2021 21:20

Yes I have a view .. they need to hit production targets .. end of .

[ppvn] 14/1/2021 17:26

Tiger (et. al.),

This chatter with regard to pit mining got me thinking back to the recent presentation material, specifically page 16. Serabi are undertaking channel sampling rather than just RC drilling which does lead me to draw a very specific conclusion. Does anyone else have a view on this?

[tightfist] 14/1/2021 16:20

Sherry; take a look back to 27th April 2020 and you will see the elevation of Luis Azevedo as NED on the main board. He was certainly a well-known quantity to MH and hopefully is now even more committed to ferreting our way through the "system". (And they took the opportunity to say Adios to Felipe Swett)..There is considerably more to SRB/SBI than MH and CL.

[borisjohnsonshair] 14/1/2021 15:30

News tomorrow - Friday!!! No thanks. Never good news on Friday. It's why everyone drinks so much on Fridays.

[sherry35] 14/1/2021 14:48

tighfist - The need to streamline the Brazil bottleneck and leverage the employment creation with a expedited process. The COO and CEO must be very educated on the permits. I suspect they need to adopt a Latin business style that matches the cultural style. Then again, this could be applied to Coringa.

Everybody wants a piece of the pie. Put more filling in the pie to move things along The generosity factor.

[sherry35] 14/1/2021 14:40

BJH - You are the eternal share price put of SRB. Similar to the fading Trump SP500 put.

All - The open pit and farm-in is a teaser for attracting money or partners. In the absence of drill results, majors walk away. I would. Just perhaps MH is making some gutsy moves in using his visionary skills:

1) to upgrade the SC license to "full"'ish mining. Apparently quicker than the Coringa license. Sweeten the deal with jobs to "relatives" of decision makers. They'll need more staff with a larger operation. This may move things along.
2) do a farm-in with AA on the strawberry jam [of the donut]filling permit owned by AA permit. That's to answer the question who has the goods AA vs. SRB vs un-identified entity. ELD will being watching this. Drill staff and woners have a grape vine.
3) DRILL THE PERMITS! Already part of the plan with the drill slide.
4) Coringa is Dec 2022. To far down the road given the permit ladden process.

tighfist - Thank you the COO education. Sorry for touching a nerve. Need a answer on SC ore sortability but certainly not a priority given the logistics grease in Brazil.

[cotton4] 14/1/2021 14:26

I am basing estimates on 8,000 ounces of production but only 6,000 ounces of sales, leaving 2,000 ounces to bolster this current qtrs' sales. As for when an announcement comes, I'm sorry but do not have a crystal ball.

[borisjohnsonshair] 14/1/2021 14:20

So Cotton Bud - news tomorrow? Open pit mining announced and massive discovery? Shouldn't they match the 33,000 production indicated in 23rd Dec - how could they be far out that close to the end of the year??

[cotton4] 14/1/2021 13:01

As previously aired, production is the key to the share price here. Until recently, production has been limited by processing capacity. Given that they many viens they can target, it is a question of mobilisation bodies on the ground, or more importantly underground. Extra staff should not be an issue, given that we will need more staff once Coringha is operational.

[tiger60] 14/1/2021 13:00

Tad optimistic. 9 months PnL (post tax)was less than 8m from memory. This quarter lower gold price, extra costs and one bullion sale. I reckon nearer 9m, but that is post tax

They don’t document a PBT stand-alone figure. They report pre tax and finance.

[cotton4] 14/1/2021 12:33

I'm working on the basis of 6,000 ounces @ $1850. Might be a tad optimistic.

[ppvn] 14/1/2021 12:28

$12mm sounds about right, could be a touch higher depending on how they've made out in terms of gold sales price...

[cotton4] 14/1/2021 12:21

As for 2020, I expect that financially it has been SRB's best year yet.
Expecting pre tax profits circa $12m. Any other views?

[tiger60] 14/1/2021 12:03

Open Pit mining is the road to major interest.

[ppvn] 14/1/2021 12:02

If there is even a whisper of a pit deposit that should launch us to a completely new valuation.

Couple of companies last year that produce nothing and have no revenue are valued at 20x where Serabi are - so it would be most welcome to me!

[tightfist] 14/1/2021 11:36

My recollections and expectations are very similar. IIRC in previous years the Q4 summary spanned 14-18th January - we should now be right on target. .It was interesting and possibly useful that Roney Almeida'a CV included open-pit mining. Not something I have had much to do with - maybe time to brush-up! Cheers, tightfist

[cotton4] 14/1/2021 09:50

BJH - as per previous years, should be any day now. Would hope they have some news also on the drilling program. IIRC that started again in October and they were moving drilling from one area to Toucano, so we should expect something from the area they moved the drills from. Would also expect an operational update as well.
Maybe all wishful thinking but patience my friend.

[borisjohnsonshair] 14/1/2021 09:43

Oi Cotton Buddy - where's the news???

[borisjohnsonshair] 14/1/2021 08:55

Spot on. Sherry doesn't do his research and couldn't run a bath, let alone a company. Thinks he talks a good game but needs to know a lot more.

[tightfist] 14/1/2021 08:52

Sherry, take a look back to 20th September 2018 and their COO appointment: "I am very pleased to welcome Roney (Alameida) to the Company and as we continue to advance the growth plans of the Company, his background, experience and knowledge of the Brazilian mining industry will b of great benefit. Roney has worked in a variety of mining operations both open-pit and underground and, as well as gold........". His CV includes AA..As shareholders we rarely get to appreciate the back-office players - but how SRB/SBI manoeuvred their way through the challenges of their 2020 clearly wasn't an accident. They prioritised caring for their people/families and immediate production, and accepted delays on development and exploration. No problem..Regarding your vision of what the CFO role requires, I will refrain from comment......tightfist

[sherry35] 14/1/2021 07:19

Couldn't resist.

[sherry35] 14/1/2021 07:19

tightfist - They need someone in-country that's extremely aggressive. The executive team is CDN meek. I'm going to say this and you find this very repugnant - They need a Trump. I said it. Ha.

Not HC snowflakes.

Part of the problem is the mgmt styles. HM seems to be a trail blazer (looking forward, prospector) and SRB's needs a sustainer (details guy miner). Both are necessary in a company with each more naturally gifted in the two areas. We need a COO.

Need to replace CFO with a inexpensive accounting firm, accounting s/w and boiler plates. CFO is part of some old business or MBA model that we can't afford. The buyout will force company wide audit anyways. Work backwards from the audit and stream line. The 2018 and 2019 CFO salaried years could have paid for a YUGE amount of drilling.
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The 3 financial director are being lead by the nose or misinformed. Read the Web site bios or all the players and pick a director. But after 5 years, I HOPE they askking the same questions. They need to have their asPs kicked by my 4 inch red pumps. Bonuses should be paid for on time deliverables or exceeding deliverables! Bar needs to be set higher.
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Please route my opinions to people with influence or the Crux video dude. I need to focus on my IBS and herxin for now.

[borisjohnsonshair] 14/1/2021 07:05

Blah blah - noise