Serabi Gold Share Discussion Threads

[borisjohnsonshair] 20/1/2021 12:20

Yep - I've been saying the same for ages.

[ppvn] 20/1/2021 11:59

The reason I've been buying more bojo is that they had $8.1mm in cash at year end; the market cap dipped to under £50mm so the mines, coringa and the exploration potential came in at just under £45mm. Don't think there could be a cheaper stock out there at the moment!

[borisjohnsonshair] 20/1/2021 11:50

Check out the NAV of Coringa in the presentation based on 3 gold prices!!! Obviously ignores huge potential to extend. The last annual report had the debt US$12M but nothing for its value. Incredible

[ppvn] 20/1/2021 11:10

I don't think it can be bojo. They may be the corporate broker but they can't be updating target prices based on confidential info.

I think you were right when you talked about the Coringa acquisition going onto the balance sheet - that and the price of gold / BRL FX being so positive for them at the moment.

[borisjohnsonshair] 20/1/2021 10:59

Peel Hunt are their brokers. I wonder if the upgrade is in advance of the discover news being prepared

[ppvn] 20/1/2021 10:31

I got sent it Boris. Believe it will be updated on Stockopedia etc also!

[borisjohnsonshair] 20/1/2021 10:14

Do you have a link to the Peel Hunt target

[ppvn] 20/1/2021 10:08

You're bang on tightfist. I'm of that assumption; think it would probably take me the best part of a month to sell down my holding here and I'm not near the size they hold!!

Speaking of institutions, I see peel hunt upgraded their 12m target price to £2.20. That must be based on the gold price being higher; their modelling was very conservative imo.

[borisjohnsonshair] 20/1/2021 09:03

I expect they want a big buyout. Five quid at least. Maybe big dividend to quickly match their investments. They could drip sell after reaching a preliminary price. What do you mean, authorising the RNS. I wonder if it's just more drill holes info, or a "discovery" with a resource estimate?

[tightfist] 20/1/2021 08:53

Are not Fratelli and Greenstone realistically "married" to their SRB positions until/unless there is some corporate action? - prospective selling or meaningful buying in the illiquid public market is surely a no-no? R&M seem to undertake a little trading around the edges of their core holding (which is my approach too - to relieve the boredom)..I wonder how authoring of the next RNS is taking shape...... tightfist

[borisjohnsonshair] 19/1/2021 17:50

I speculate that a very high % of the 35% not in the hands of the 3 biggies are fixed and waiting at least until the price reflects Coringa - so 200p at least maybe then they'll sell part or all to a far larger group of smaller traders. That'll free up liquidity. It might gap to that level if it can't slow get there with the right news. Coringa final license or big discovery- maybe next week.

[ppvn] 19/1/2021 17:37

Hiya millwallfan,

No, I know there is a small float and not that much traded. The moments I find frustrating are when I'm trying to buy and no quotes are available at all. You may be right, but there are many other stocks that I buy and sell that trade less in value than SRB daily and it doesn't happen with. Just seems to me that the market makers here are particularly sleepy, or hold almost no inventory at times.

[millwallfan] 19/1/2021 17:19

PPVN. Read my post 1623 and all will be revealed as if by magic.

[ppvn] 19/1/2021 15:34

Hey bojo, afraid that one wasn't me. I've taken another 25k over the past few days in slightly smaller clips though.

[borisjohnsonshair] 19/1/2021 14:27

See you got your 30,000. Well done!!!

[ppvn] 19/1/2021 12:40

Just frustrating can't get immediate quote and have to call/place orders etc. Wonder if its the performance of the market makers that cause this or the thin liquidity.

Either way, if there is the possibility that the shares could go onto an electronic platform I think these would be much more traded. Unfortunately I don't know enough about the topic to know if thats viable!

[borisjohnsonshair] 19/1/2021 12:35

When Coringa is added to the NAV plus the new discovery we should be at 200p. This will just be the start. Well then be looking at many more discoveries plus the revenue / income from Coringa. 300-400p in 2022, easily.

[borisjohnsonshair] 19/1/2021 12:31

I totally agree. My point was that paying a 2p premium on the quoted price is nothing compared to the gains. Do this or miss out that's the choice.

[ppvn] 19/1/2021 12:29

120p doesn't buy my shares bojo. Not just blowing hot air on these!

[borisjohnsonshair] 19/1/2021 12:14

They bottoms aren't real in this rising trend. Out in a limit order for 92p and you'll be successful. You'll be able to sell them at 120p in 10 days.

[king suarez] 19/1/2021 08:54

Prior to this Covid hit year and war between Azerbaijan and Armenia, AAZ were doing c80k GEO ounces at a cash cost of c$650 per ounce. They are more a gold/copper mix than a pure gold play as they have a not insignificant amount of copper produced alongside the gold (2.5k tonnes this year) - they have the processing capability/flexibility to produce both in quantity though due to their plant. Really well run company and cheap like SRB.

[borisjohnsonshair] 19/1/2021 08:14

Impressive. As you say SRBs turn. What's their output & AISC? Sorry I'm being lazy.

[ironstorm] 19/1/2021 07:44

AAZ shows how to do it. Srb take note.

[borisjohnsonshair] 19/1/2021 07:37

MH said that in addition to notice of discovery next week, constant up dates this year.