Serabi Gold Share Discussion Threads

[tiger60] 21/5/2021 13:34

I am going to keep most of my thoughts regarding the interview to myself as it seems some don't like debate but I would say MH saying guidance was 33,000- 35,000 when last time it was mentioned it was 33,000 - 36,000 is a tad annoying, also his admission development work is a bit behind (hoping to do 3500 a month post arrival of new drill - so H2 21,000 out of 30,000? What is the development rate so far?)and the fact he expects the final licence by year end then saying he would be happy if it came in January. Little things but....(i am sure they nicked my comment about the investigation being more expensive than the fraudulent act itself in reference to the accounting issues)

What we can all agree on is the share price performance has been poor when set against a rising gold price. On the positive side we have so many opportunities it is hard to fathom where to start, some of them possibly involving bulkable mining. Open Pit would be a godsend. This would be our passport to a rerate

To me it is obvious we need to team up. That must be on the cards.

[kennyp52] 21/5/2021 11:02

Zzfritzz .. as an old fashioned FD I would have my finger on every pulse and nothing would move without my knowledge . As you say .. most transactions are digital .. therefore any cash should set alarm bells off . How many expenses transactions do you think a mine will have for chrissake ? This guy is full time on a huge salary . Laziness comes to my mind ... incompetence maybe . Yes I understand authority levels but if auditors that come in once a year can pick it up then it’s embarrassing the CFO or his team have not and it sounds like it’s been going on for years . Why spend a fortune trying to evaluate it if it’s supposed to be immaterial ? Stinks .

What was supposed to happen at 1030 ?

[trader536] 21/5/2021 08:53

Look at these ADVFN posts from 13 years ago. Sound familiar? Compare the market cap and the statements by investors, the stagnant market cap, and the increases in directors drawings .......


Ed 123 - 26 Jul 2007 - 14:59:58 - 753 of 3749 Serabi Mining - Gold from Brazil Now - SRB
The second quarter results have been released. It reads very well. Output for the third quarter will be increased and the company is aiming for a big step up in 2008 (to 60,000 to 70,000 ounces).

In 2007 output may be around 40,000 ounces at a cost of about $250 per ounce. This gives about £8 million of operating profit. Current market cap. is about £67 million fully diluted. Also, there will be loads more exploration (holding 273,000 hectares of land).
SP should be higher, imho, but overlooked by the market.

Ed 123 - 07 Sep 2007 - 13:23:08 - 767 of 3749 Serabi Mining - Gold from Brazil Now - SRB
I added to my holding today. Seymour Pierce reiterated buy on 29 August 2007 - states it's on its way to becoming a mid-tier gold producer.
SRB should produce about 40,000 ounces this year and its costs should be about US$225 per ounce. Operating profit could be in the region of £8 million in 2007. Current market cap. is only about £41 million. It has a good resource, over 700,000 ounces at about 9g/t. It also has rights to explore a large area adjacent to its current production.
Institutions paid 43p per share in July 2007 in a placing to provide funds for increasing both production and exploration. The gold price appears to be on a strong run but SRB looks neglected at its current price.

polaris - 11 Apr 2007 - 16:04:47 - 589 of 3749 Serabi Mining - Gold from Brazil Now - SRB
We cant be more than 5-6 weeks away from the trading update for Q1..and maybe some more details on the exploration. That will give a good feel to how 2007 will go.
The extra ball mill commissioned at the back end of last year should lead to an increase in milling throughput by 25%. With the work towards automated mining i would expect the head grades to fall a little during H1 2007 but this will be more than matched by the increased throughput. Q1 should yield around 13k Oz Au equivalent with average price in the 620-640$ range and possibly higher as they have small %ages of copper and silver in the refined ore and they have also seen good price increases over the last 6-9 months. I would hope that total cash costs (including admin etc - ie not mining costs which i expect to be less than $250) can be kept around the $300 per Au Oz equiv for the year and so my estimate for cash generation through the year is $17-18m. That is more than enough to fund resource drilling, expand and update mining equipment and to buy new prospects.
Current share price gives a market cap around £50m. With the prospects for increased resources with the drilling program, this still looks pretty cheap.

regards,

Paul

Stockologist - 08 Oct 2013 - 11:20:01 - 260 of 6139 Serabi Gold 2013 re-opening Palito goldmine and potential regional consolidator - SRB
They could make the current Market Cap every year in cashflow soon i.e. prospect of getting almost your entire investment in this as an annual dividend !

[borisjohnsonshair] 21/5/2021 08:30

Wait for 10:30

[borisjohnsonshair] 21/5/2021 08:30

Down again ?- you are consistent- Lose lose lose, professional loser

[borisjohnsonshair] 21/5/2021 07:52

As I said - bots spotting the signals. Super bullish.

[plat hunter] 20/5/2021 22:28

"Obviously there are some on here who haven't had experience of being a CFO."Neither has Clive Line by the looks of it

[cotton4] 20/5/2021 21:45

zzfritzz

Having been an accountant and finally Head of Finance in a career spanning 30+ years,
I can only say amen to your comments. Senior managers are appointed to a position of trust and it comes as a body blow when that trust transpires to be unfounded.

While I,m on, Sherry, any reason why Canada is up 11% tonight.

[cotton4] 20/5/2021 21:30

Obviously there are some on here who haven't had experience of being a CFO.

[plat hunter] 20/5/2021 21:21

100% Kenny and exactly why I have said the BOD are asleep at the wheel.What else have they missed?

[trader536] 20/5/2021 20:37

Boris mate, remember the ore sorter story that MH spun to the mugs a year or so ago? Wasn't it meant to be 'transformational' for SRB

I remember seeing a youtube video of MH stood on a plie of chippings at some quarry (probably on his farm) that was alleged to be in Brazil

You also fell for that one 😆🤣😂

[sherry35] 20/5/2021 19:47

kenny - Great comments as always. I mentioned this before as a cost cutting measure under a different discussion thread. If they're outsourcing "some of the functions", get rid of the CFO.

HM talks a great 2023? visionary game with his charm but operationally the company is failing. And again, no mention of the "elusive" ore sorter. Waste of money?

[trader536] 20/5/2021 18:22

I'll buy at 20p (again)

[trader536] 20/5/2021 18:20

What about the missing gold that has not yet come to light cos the turkeys are on their farms shaggin their hens instead of doing their jobs in Covid riddled Brazil. Are they afraid to go there for half a million quid a year each??? Obviously YES!

[borisjohnsonshair] 20/5/2021 18:11

Kenny - chill fella. The report will be out and everything will be wonderful.

[borisjohnsonshair] 20/5/2021 18:10

Yer Mums pimp you mean. "You have been warned" you said that when they were 50p and you said they were shutting due to a Covid outbreak. False alarm, it was herpes on yer mum.