Serabi Gold Share Discussion Threads

[imastu pidgitaswell] 06/4/2021 12:58

Plat - it's a simple issue. Someone has withdrawn cash and is not able to explain how it has been spent for business purposes. Because it hasn't been - they've pinched it.

The rest of the group cash is in a bank account (or probably a few, most of which are not in Brazil) - all of which are audited by confirmation against both bank statements, and a separate direct communication (letter and response) between the bank and the auditors.

Honestly, you're reading too much into it.

[plat hunter] 06/4/2021 12:53

"the Company’s auditors, are undertaking further work to resolve the audit issues identified in Brazil,"


So the 80k wasn't the real reason or the only reason for the auditors not signing off then... This company needs a solid update in the lines of that the Auditors are signing off on the accounts and that the Canadian Securities regulatory authorities agree to allow the shares to continue to be traded on the Toronto Stock Exchange notwithstanding the delay in the filing of its Accounts.


Anyone buying atm is knife catching as there's still no concrete update from the BOD about the scale of the issue and that's really bad imo, no wonder it's off over 10%

[plat hunter] 06/4/2021 12:14

Lol Boris imagine that ha ha ha.The fact they were 'multiple cash' transaction during Q4 made it look like personal christmas spending to me.Sometimes people can be motivated by their sticky fingers when pay, working conditions and supervision are sub par.

[borisjohnsonshair] 06/4/2021 10:54

The fraud has been identified and is tiny. It's nonsense speculation that there's bigger issues plus earlier audits are closed & signed off. If the thieves were smart they'd have shorted the stock on a geared CFD with the 80k!!!

[cotton4] 06/4/2021 10:40

If there has been fraud then the cash figure of $20m reflect a financial position after the fraud.

[golden prospect] 06/4/2021 10:35

61p to buy, could be a special bookmark moment in years to come!

[tiger60] 06/4/2021 10:24

Yep, But was the 80K a one off? Maybe the one item found. The auditors will need to go back and check prior years. And the assay reports was that a mistake or fraudulent? Again there are so many scenarios bad and less bad. The price now reflects this. It would be nice to hear from Clive as soon as appropriate.

[zzfritzz] 06/4/2021 10:17

The report may also take a while as having done corp fraud investigations for a living it takes time. $80k though is small though to stop an auditor reporting.

[tiger60] 06/4/2021 10:14

Ph don't be an ar*e. Most posters here have been here a long time and wishing the best versus the reality is a common trait across all boards. People see what they want to see and read what they want to read. Nothing posted on these boards will impact the share price For holders we will wait to see how it plays out. I am slightly concerned Qtr1 prod figures are held back as I thought they might be published to galvanise some support

[plat hunter] 06/4/2021 10:09

Is it curious that it should fall 10% when everyone thinks it's a bargain and so called "Buying the bargain"Some snakey snakes in here me thinks.

[tiger60] 06/4/2021 10:02

I personally do not see a quick bounce here. They have to earn any uptick and I can't see any clarity being received any time soon. SRB have brought this on themselves and it will take a lot to restore any confidence in the management. Maybe an opportunistic bid may come but lets be honest it has been a shambles this year. Missing an open goal....

The accounts for prior years will need be reviewed, legal costs, reputational damage etc. We are where we are as they say. If like me you are convinced of the assets , gold price and solid financial position of the company then hold for the recovery. In fact the placing in hindsight is a bit of a saviour. A few weeks later and well we would of been in trouble.

Be patient but we should at lease get full transparency and straight talking. Match the words to the actions is the starting point.

[imastu pidgitaswell] 06/4/2021 09:54

Done it, for better or worse.

[trader536] 06/4/2021 09:39

The fall is accelerating, lots of mugs getting sucked in. Its far better to buy on the way up rather than on the way down. 20p will be a good entry

[kennyp52] 06/4/2021 09:38

Boris .. patience .. obvious sub 60p coming.

Naughty covers a multitude of sins ... theft , bribes , off books payments ...

[volsung] 06/4/2021 09:34

Good. Don’t like mining in the Amazon

[trader536] 06/4/2021 09:23

The cash is getting nicked because MH is sat at his plush farmhouse making silly videos to sucker in mugs like you

[imastu pidgitaswell] 06/4/2021 09:22

tightfist is right in terms of ongoing potential risk. As I said over the weekend, it hasn't happened before, and should be a one-off. But...

[tightfist] 06/4/2021 09:18

I am more thoughtful about the $970k gold anomaly......

[cotton4] 06/4/2021 09:18

When theres fraud, it always leaves a sour taste in the mouth and casts suspicion on others on the ground. When there's more than one involved, it can be difficult to detect but once detected, the scale needs to be established. In business, you always need an element of trust but there always bad apples.

[borisjohnsonshair] 06/4/2021 09:16

It's got more cash in the bank than 20p you cretin.

[kennyp52] 06/4/2021 09:11

To be fair it’s not a lot of money and happens every day to our old folks in the U.K. What is unacceptable is management not questioning it until the auditors picked it up .. is no one watching the bank transactions daily ? Which then begs the question do they know about it and has it been used for a naughty ?

[trader536] 06/4/2021 09:06

The same idiots try to catch the falling knife every time. 20p next month?