Serabi Gold Share Discussion Threads

[borisjohnsonshair] 19/6/2021 13:59

Almost enough cash to fund the Coringa development without debt. Looks like the cash generation will exceed the expenditure on this. Might spend 7.5M in Q3 and 4 but will generate that. 20m and 5M contingency. Easily affordable by end of 2022.

[borisjohnsonshair] 19/6/2021 13:41

We have nearly 3 times the cash from a year ago, have made two acquisitions, cleared debt and paid off Coringa, the debt and Coringa costs with interest is huge US$20M? Exploration ramping up, Coringa license in the bag.

[borisjohnsonshair] 19/6/2021 13:38

The fear has come from Covid and this accounting delay. It's time now for the re-rate. This should be 200p now and with more attention it will get there. Then as Coringa gets closer it will rise to 300-400p. The price is frankly WRONG WRONG WRONG.

[borisjohnsonshair] 19/6/2021 13:36

Cotton - I don't disagree with anything you've said but not sure how it's calculated. They have circa 7.5m cash generation in first 5 months, so 18M pro-rata year, even though the first 5 months has lower production. Their output in the period, pro-rata also matches lower end of target 33m ounces, so on track to reach and exceed. USD18m x 8 = GBP100m, so on the production mines alone the price should be 130p, with zero MCAP for Coringa and all their other exploration potential.

[cotton4] 19/6/2021 12:25

They are looking to generate ~$750,000 additional cash in June. Equivalent to $9m per annum. With increasing yields this could be more.
$12.5 PBT looks reasonable give that dep will probably be around $3.5.

[cotton4] 19/6/2021 12:17

We really need to move away from this needless bickering, so I have come up with a few figures which may be torn apart.
2020 Profit before tax $10.5 or share price 94p based on a pe of 10 and 80m shares.
2021 PBT $12.5 or share price 112p (cos 60% pog $1800)
2022 PBT $17.9 or share price 160p
2023 PBT $46.7 or share price 417p (production 85000ox which is probably at bit optimistic)

Perhaps Premier Miton, River & Merc and our other new investors see something similar.
I have tried to be conservative but I have used a pog of $1800.

[plat hunter] 19/6/2021 11:06

Yes Boris, his performance in FRES, weighed against his self thought up handle and his posting in other boards is certainly a candidate for the epitome of Irony.It is possible though that some individuals appreciate the quality of the asset in the ground and it's potential but also extremely disappointment in the BOD's ability to make the most of said opportunity. Risk control and performing to their own expectations doesn't seem to be their strong suit.As far as trader goes, I do agree with him that MH and CL are probably not the best choices going forward despite their obvious success at drilling. At the very least it might be time for CL to fall on his sword.

[plat hunter] 19/6/2021 09:07

In your own mind BIB, it's a shame that you're not as quite as embarrassed as giving your own cash away here over the last few months.Remember the BOD remains confident that they will issue the accounts in time for the 30th June deadline. "Confident....feeling or showing confidence in oneself or one's abilities or qualities"Ha ha ha, I hope you're confident in being able to make your money back here before you need it.

[tightfist] 18/6/2021 18:54

Hi GP,Lots of detail today that provides deeper understanding of product sales and respective cashflow..Finally Coringa is 100% in our hands, and moreover "...All security that had been granted by the Group in respect of the convertible loan notes and the outstanding Coringa Project purchase price obligation has been released.....".We are now finally free of all Third Party obligations and able to pursue Coringa unfettered, taking-on short-term debt on fresh terms appropriate for a cash-generative company, if deemed necessary..A Red-Letter day! tightfist

[plat hunter] 18/6/2021 17:00

lol OAP afraid not, Trader is a nonce punting lady boys in Thailand and I'm afraid I don't use LSE, too many adverts and irrational rampers, I don't use II either, incase there's someone else over there who doesn't agree with you.

[imastu pidgitaswell] 18/6/2021 16:57

No - they actually hate each other. It's all a bit PFJ/JPF (Life of Brian).

[rogerbridge] 18/6/2021 16:43

Looks way undervalued and have bought some

[oapknob1] 18/6/2021 16:42

Are you Trader536 and BushyTailed from LSE board?

[golden prospect] 18/6/2021 16:22

IP, i'm sensing an ambition for Serabi to hugely expand and that's why they took the recent 75p funding to accelerate and realise value. It's going to be a great journey imo.

[plat hunter] 18/6/2021 16:18

I bet there's a few here takin a hair cut on this opportunity of volume?Still not filed, still not safe.

[imastu pidgitaswell] 18/6/2021 16:16

GP - and it was all there before, but yes, better to have it all in 1 RNS.

It's a bottom drawer thing - yes, I wish I hadn't bought higher up, but I have traded a few along the way, and am happy to have added many more lower. It's still not a large part of my portfolio - the spread and the management always make me think 'yeah, but what if...'

Risk:reward in terms of stake size and current price. Always.

[imastu pidgitaswell] 18/6/2021 16:13

Prat - and that's all you have? You're a piece of work, you really are.

[golden prospect] 18/6/2021 16:12

IP, what the news tells us today is Serabi have:

* good cashflow from palito
* no debts
* a very healthy cash balance $16.39m
* money to explore and expand
* fully paid Coringa US$22m (plant ready)
* predevelopment spend at Coringa (groundworks start soon)

Should be plenty of newsflow to provide momentum.

[plat hunter] 18/6/2021 16:12

"Company remains confident that based on the results of the enquiries to date, the Financial Statements will be issued prior to 30 June 2021.""The Board currently expects that the audited results for 2020 will be issued during August 2021."It's called a carrot

[imastu pidgitaswell] 18/6/2021 15:56

Although, before The Moron says it, it says they 'expect' and it is dependent on the auditors completing what they have to do. We know, we know. Noted. OK...

Incidentally, when they say 'unaudited' 5 month info - it's not simply that nobody external has seen it; the auditors will have reviewed it, and its presentation and approved the statement as it reads, including the caveats. These are not (and cannot be) just made-up numbers with no underlying transactional basis.

[golden prospect] 18/6/2021 15:52

IP, I am pleased to see the company issue an update, especially now that we have been given the group’s unaudited management accounts statement of cash movements for the period ending May 2021. It confirms good progress and paves the way for huge prospects. It also puts a line underneath the nonsense of suspension as they confirm they expect to release full year accounts in August.