Serabi Gold Share Discussion Threads

[loganair] 19/10/2021 09:05

The videos suggested to me that if the price is right the maybe 'For Sale' sign has gone up.

[kennyp52] 19/10/2021 08:58

Plat .. it’s a steal for another “properly managed” miner to takeover SRB and exploit it to its potential .. wasn’t saying SRB is properly managed .. far from it 🙄

[plat hunter] 19/10/2021 08:20

Properly managed??

[kennyp52] 18/10/2021 23:35

BIB80 .. I feel the share price is low and if there is some M&A in the sector then this is a steal for a properly financed and managed miner. So yes .. I’m stuck with it for the moment and happy to hold on that basis and on the potential with the exploration. I found the interview totally unconvincing and the acknowledgement that Covid hardly impacted the North of Brazil and the fact these 2 guys are hardly ever there just confirms ; or is it exacerbates ; my fears they are a pair of lazy over paid plonkers that talk a good game but fail to deliver / manage the asset with any kind of vigour. If this company had a Leon Coetzer it would be flying imho .

[backinblack80] 18/10/2021 23:13

loganair, I noticed that...still good.
kenny, it sounds like it's stick or twist now for you. I also think the CFO should go but I also have the hope that opportunities are aligning .....

[loganair] 18/10/2021 23:07

In the video no longer talking about being a 100koz miner, rather now hoping for 80koz.

[kennyp52] 18/10/2021 23:04

If they ramped up production to what they promised 2 years ago then they would be able to self fund Coringa . Doesn’t help millions in cash and false expenses have also disappeared over the years or that would be sitting in the Tommy Tank right now. Promise the earth ; fail to deliver … rinse and repeat. Hard to trust anything Hodgson says and why hasn’t enough cash been generated since they reported they had $18m following the placement ? My interpretation is they have got their costings wildly wrong and if so is it just another example of a CFO completely out of his depth and a CEO that is failing to deliver ?

[backinblack80] 18/10/2021 22:58

kenny, MH is back in his conservatory... But, he's going out again....
Excellent summaries and discussion, tightfist...very interesting, as always.
I felt very sleepy listening to CL and the funding of Coringa.....
However, I think this Company may finally be getting somewhere, albeit a lot more slowly than anticipated going by their previous self imposed targets and deadlines. However, my investment here was primarily speculative and based on their potential to make a large discovery which has the potential for an open pit operation.....they appear to be getting closer to this (six targets) ...Also, the increased focus and investment in the region is a major plus..Narrow vein is traditionally very high risk and unpredictable....hence, perhaps, the ridiculously low mcap...aimho

[tightfist] 18/10/2021 16:16

Given time IMHO they will deliver. But MH seems persistently bullish on timing (seemingly little scope for any slippage recovery). Early this year I got the impression commitments were being reined-in (eg 80kOz) but I now get the sense that optimistic Mike is back in charge - what do others think? Personally I like his optimism but the market may take a different and less tolerant view.

[loganair] 18/10/2021 12:03

Crux video, as usual Serabi are promising a lot, can they deliver this time?

[tightfist] 18/10/2021 11:11

Hi PPVN,Thanks for your thoughts. It's particularly interesting that G Mining (TSX-V) have just acquired an Open Pit project (Tocantinzinho) 90km along-trend from Palito, not to mention the other global mining names mentioned as active in the area. It certainly puts the Serabi rapid 6x RAB drilling programme in context, in order to focus diamond drilling soon after..It was notable that MH (26mins - 30mins) inferred more IMHO about being acquired than being the acquirer? He certainly sees the infrastructure improvements as a game-changer for mining in the Tapajos region..Cheers, tightfist

[golden prospect] 18/10/2021 11:08

I like the SRB story but still feel Q3 was a miss as production is below my expectations and low cost items on backorder may impact Q4. Solid but not excellent.

[ppvn] 18/10/2021 09:24

I thought this most recent crux interview was quite illuminating and thanks for posting.

The fact it looks as though there is a chance for open pit finds in 6 separate locations is encouraging. I knew that the exploration potential was good and is one of the main reasons I'm invested here but that is potentially game changing. Well fingers crossed anyway.

[tightfist] 18/10/2021 07:23

Another 600 viewings of the CRUX video, now up to 3,411 total. ..Let's see what they made of it - lots of fresh insightful info within that video.

[tightfist] 17/10/2021 21:19

Another 595 viewings in the last six hours. A promising sign.

[borisjohnsonshair] 17/10/2021 15:28

Looks like they'll ramp up existing production, whilst developing Coringa but around the time they have near 100,000 ounces they'll have 1-6 open pit mine discoveries and be acquired for around US$500M.

[tightfist] 17/10/2021 15:23

Latest CRUX video has had 230 viewings in last three hours.....

[tightfist] 17/10/2021 14:18

Thanks. The NPV(5) of Tocan. must be quite impressive with $1,750 PoG. (Mind you, Coringa is too). The most interesting aspect of this acquisition is that this is an Open Pit project.......

[aimsurfer] 17/10/2021 13:55

Tocantinzinho technical report available below.https://www.eldoradogold.com/assets/operations-and-projects/south-america/projects/tocantinzinho/default.aspx

[tightfist] 17/10/2021 12:59

Following MH's lead, this is the M&A announcement of TSX-V G Mining acquiring Tocantinzinho in August this year. In broad terms they are paying $110m for a High-grade open pit deposit with reserves totaling 1.8 million ounces at 1.42 g/t:.https://www.globenewswire.com/en/news-release/2021/08/09/2277325/0/en/G-Mining-Ventures-to-Acquire-Tocantinzinho-Gold-Project-From-Eldorado-Gold.html..This gives a small history of Gold mining in the Tapajos and shows Tocan. on trend further to the NW from Serabi:.https://cabralgold.com/the-tapajos-region/.Cheers, tightfist

[tightfist] 17/10/2021 12:36

Hi Redtrend, good to see fresh faces surfacing.The CRUX interview usefully expanded various aspects about Tapajos infrastructure development and increased external interest; its accumulating considerable YouTube viewing figures. My interpretation of MH's words Is that he was seeking to reassure investors that to complete and commission Coringa during 2013, his intention is that a further placing will NOT be required - it will be funded by cash draw-down, organic cash generation (and some fresh debt, depending on PoG and production levels. And possibly royalties)..Notably they have declared a medium-term target of "Mine-site & regional exploration targeting >3Moz" which is commenced by their aim of "32,000m drilling in 2021 on priority targets". which is not going as fast as they planned. As KS says this concurrent exploration activity will also cost cash which also need to be financed. MH fleshes-out rapid RAB-drilling on six targets, as a first pass prior to Diamond Drilling the most promising target(s)..Finally there is the possibility of increasing existing mine production. We have seen lots of musings/teasers on this topic, but never a definitive plan, as far as I am aware. The timing and cash-cost of these initiatives remains to be seen, but in driving total resources to >3Moz, that is surely IMHO not all dedicated to LoM extension..Cheers, tightfist

[king suarez] 16/10/2021 22:28

Yes, I did wonder that also. Shouldn't really require much in the way of external funding at all.

Perhaps they are envisioning quite a large exploration spend concurrent with this?

[redtrend] 16/10/2021 19:30

Thanks for posting meanreverter.

Does anyone know why CEO Michael Hodgson after around 10mins states they can't build Coringa out of cashflow only and they're negotiating financing options and requiring additional finance to complete Coringa post Q2 2022 onwards (12:26min mark)?

Subsequent to the March placing, SRB had circa $18m, now $15.3m as they have already commenced spending on Coringa.

Now according to all previous presentations, Coringa Capex is only $25m, which includes 20% contingency. In this inflationary environment, let's say all that contingency will now be eaten, so price tag $25m.

With Gold Price of $1,750 - AISC $1,250 = $500oz margin x 36,000 oz p.a. = $18m.

So with current cash + cashflow, why are they looking at financing options?! I would understand putting in place a simple, standard bank financing package/ overdraft of circa $5m for working capital and contingency, but it sounds more like a long-winded negotiation of expensive (in terms of interest bearing) financing specifically for Coringa...

[meanreverter] 16/10/2021 13:55

Crux interview at