Serabi Gold Share Discussion Threads

[tightfist] 07/3/2021 10:08

Well said KS! As you mention the RoM ore flow was reduced; the grade-enhancing Ore Sorter became unfeasible for ~9 months and all ore was passed straight into the process to avoid any Au wastage..My heart did sink when, although they are pretty naturally isolated, the latest COVID mutation originated in Manaus, just along the road relatively-speaking..... Hopefully SRB on-going COVID procedures will minimise risk..Cheers, tightfist

[king suarez] 07/3/2021 09:14

It has been explained in interviews that the company had to make changes to the layout of the camp(s) to accommodate social distancing, along with changes to shift patterns - both of these meant there was not room to house exploration staff - so that had to be temporarily halted, and with less workers on site at any time they had less choice of which areas to mine to access the best grades - hence production has been temporarily down, due to grade.

Things have slowly been getting back to normal now, so exploration has re-started and production is back on the way up with the larger workforce back on site.

The ore sorter will also start to be operating again as it will have sufficient feedstock to weed out the waste ore, thus improving grades and production.

2021 should be a pretty good year overall, if Covid doesn't have a massive resurgence.

[borisjohnsonshair] 06/3/2021 09:30

That's what the big investors are waiting for. They can't drip sell into a rise.

[king suarez] 06/3/2021 09:19

Perhaps if we prove up 3M Oz, we can have a market cap of nearly £1bn, like GGP. Only fair, right?..

[tightfist] 06/3/2021 08:05

Granted it's not all roses at SRB; eg the accruing total cost of the Equinox arrangement? A surprise dilutive placing..On the other hand we now have a major, funded 32.000m drill campaign which is going to cost 5m and will target the new tenements/discoveries, as part of a longer-term target of 3M Oz resources. That 5m and has to come from somewhere - when their organic cash generation is also going to part-fund the Coringa mine development and M&E. And now they have the freedom to take-on additional attractive debt and also compensate for any PoG wobbles..They could have parked the Toucano/Calico/etc. exploration for a couple of years - but instead have decided (after seeing the promising recent early results? 0.8g/t in soil?) to get aggressive now..Cheers tightfist

[sherry35] 06/3/2021 01:22

No moss on us Canadians. MND.TSX bumped up their 2020 Au production 10%. This increase was announced in the fall.

I wonder if the executive team will award them selves bonuses for driving us into a financing and dilution.

[borisjohnsonshair] 05/3/2021 10:27

Last trading day before liquidity opens up.

[kennyp52] 05/3/2021 08:59

The problem here is industry wide ... most golds are substantially down when POG is still substantially higher than 2 years ago . The problem with some like SRB ; SHG and HUM .. is imho their boards took their eye off the ball and instead of like some of the Russian and Canadian miners allowed production to languish instead of finding ways of generating as much production as possible as gold hit $2000+ . That is how you become “debt free” .. whichever way you look at this placing is debt replacement & masking their failure to generate cash . Missed opportunities imo and poor performance from highly paid boards that need to start putting their investors first .

[tiger60] 05/3/2021 08:38

Well Powell continues to do gold no favours noting the 10 year yields are acceptable and therefore inferring no fed action to cap. FDOc meeting 16th-17th March therefore seems to set expectations of more of the same in terms of there being no expectations of the Fed jumping in to buy long dated.

This is now a matter of waiting it out until gold recovers qtr2 (maybe). I think there is a feeling that equity markets, especially in the US are on the verge of correction territory.

As to SRB their 9 months financials up to Sept were fine. Qtr4 with revenue from 6,000 odd sold bullion and increase in costs, plus the write off must of spooked potential lenders a bit and maybe term sheets were revised or the term or revolving facilities on offer had large arrangement/commitment fees.

To me the main gripe is the complete turnaround in direction. We were always told debt free in Qtr 2 from organic cashflow now we are not only issuing equity to pay off the 4.5 or 3.5 but another unexplained amount taking it to 6.6m. We were also set to self fund the initial development and exploration from existing funds. We were told all this in December and January. SO what drastically changed and why should we believe anything that MH or CL say?

As to Coringa the final license now is stated as arriving sometime this year! Before it was assumed H1. They state Coringa will be in production 2023 but this has slipped so many times already.

Maybe the next statement will provide clarity and answer all the questions.

[tightfist] 05/3/2021 07:43

Gold investing sentiment has been going downhill since August (SRB notably later) and consequently SRB share price has a strong headwind. Chart support now compromised and increased production-related timescales are extended. Nothing that odd - IMHO we need to chill and be patient, maybe until at least the H1 numbers, unless we receive more miraculous exploration results..Rightly or wrongly this week's dilution may not have helped in the short-term? Cheers, tightfist

[borisjohnsonshair] 05/3/2021 07:00

Very odd. NAV 89p a share before share issue. As this is above price today the NAV PS will increase. This is without Coringa. NAV PS after is circa 150p. Big re-rate coming. No debt, cash, production, mine in development and mega exploration. What's not to like. Sale of the Century.

[kennyp52] 04/3/2021 21:42

Thanks for reminding me I did the right thing whilst you sit on your losses at FRES paralysed by your fear of selling at a loss

[sherry35] 04/3/2021 20:44

tightfist - You ask for recommendation. Take a look at MND.TSX. They have 2 silver interests in Chile which one includes a stock holding in Equus Gold. Equus is on the Aussie Exchange. Read the Equus press releases and chart deck for the most recent drill results.

Have you noticed the divergence in POG and POS (price of silver)? What is your take on the duality of silver as we move forward into a electric society.

[sherry35] 04/3/2021 19:08

US Markets down, USD up, gold sinks. Well ... I guess I'll have to wait for rates to rise for POG to move north. I'd say 2 years for the first rate hike.

[sherry35] 04/3/2021 18:34

POG printing 1600's US. Staring cratering around 12:23 PM EST. Hmmmmm ... somebody got a sneak peak at Powell's speech?

[trader536] 04/3/2021 17:04

Wow look at that chart.....

[trader536] 04/3/2021 16:59

These maybe worth a punt at 40p

[king suarez] 04/3/2021 16:06

Selling below the placing price - not a good investment strategy. Clearly a lot of stale holders lost faith and selling up?

Kind of daft action here..

[tiger60] 04/3/2021 16:04

They have just handled this so badly. As to a floor to the share price look at the chart!

[swanvesta] 04/3/2021 15:58

Looking like an M&A target?

[tiger60] 04/3/2021 12:47

Wow that is some interest. I really think for transparency they need to break it down as we have continually been told that we would be debt free based on the monthly payments ending in Qtr 2. If we owed 4.5m in Jan (maybe 3.5m in Feb) then I think if that was just interest then we are investing in the wrong industry.

Will await the official breakdown but it in no way dovetails with all previous announcements.