Serabi Gold Share Discussion Threads

[loganair] 30/11/2021 10:11

Serabi's cash in the bank will pay for 60% to get Coringa up and running and by the end of 2022 they'll have enough cash in the bank to pay for 80%.

[kennyp52] 30/11/2021 09:37

Imastu .. I just wonder if cash went what about gold ? Makes you wonder when the BOD are out of sight and out of mind ?

[imastu pidgitaswell] 30/11/2021 09:05

And they have all that cash AFTER $2m was nicked. Top quality management...㊌2;

[borisjohnsonshair] 30/11/2021 08:49

Yes - rock solid business - A PRODUCER. I know you gamble and lose on speculative Micky mouse set ups. Loser.

[trader465] 30/11/2021 08:36

“I like the net cash position”

Let’s hope it doesn’t get nicked again

[charlie9038] 30/11/2021 08:22

Not much of a reaction

[imastu pidgitaswell] 30/11/2021 08:13

They're alright - fully funded and I like the net cash position.

Note the impact of the share dilution earlier this year on EPS though - flat profits, lower EPS. Still not seeing the full year effect of that, and we won't actually see 'clean' fully diluted EPS numbers until 2023, albeit they will be 'mostly clean' for 2022.

[borisjohnsonshair] 30/11/2021 08:08

Yep.....several game changing news items pending. In the mean time the production is solid, guidance in the bag almost and Coringa being built. No skeletons in the cupboard, blue skies ahead

[trader465] 30/11/2021 08:07

Hey Boris EPS down 15% here

Did you notice GRL is now a producer?

[ironstorm] 30/11/2021 08:05

Am wondering though whether we will get a more positive RNS shortly. It has that feel.

[ironstorm] 30/11/2021 08:04

Not brilliant results - saved by PoG - tho gold produced was good if it can hold at those levels. AISC up to even higher levels. Looks like they are throwing the kitchen sink at production. I don’t mind that necessarily if they hit their numbers qtr in qtr out. History would suggest otherwise.

Still cheap. But they are making heavy weather of it.

[david gruen] 30/11/2021 08:01

30 November 2021

Serabi Gold plc

("Serabi" or the "Company")

Unaudited interim results for the third quarter and nine month period ended 30 September 2021

Serabi Gold plc (AIM:SRB, TSX:SBI), the Brazilian focused gold mining and development company, today releases its unaudited results for the nine month period ended 30 September 2021 ("the Period")

A copy of the full interim statements together with commentary can be accessed on the Company's website using the following link -- hxxps://www.globenewswire.com/Tracker?data=9Zd9mq6kEHGaqJ7ayHZAbjAzEyz-kgtkdOxpqg-KNMkMmlW8tSQSemdSKxFyZgHbkn0CDQ51pq0oap9JNqdv_g== [...]

Financial Highlights

-- Post tax profit of US$7.66 million in the Period (2020: US$7.42 million).

-- Earnings per share of 10.64 cents compared with 12.58 cents for the same
nine month period of 2020.

-- EBITDA of US$15.00 million in the Period (2020: US$15.66 million).

-- Net cash generated from operations of US$8.1 million in the Period (after
mine development capital of US$3.8 million) (2020: US$11.4 million after
mine development capital of US$2.0 million).

-- Net cash and cash equivalents of US$15.2 million as at 30 September 2021
(31 December 2020: US$6.6 million).

-- Average gold price of US$1,772 per ounce received on gold sales during
the Period. (2020: US$1,647 per ounce)

-- Cash Cost for the Period of US$976 per ounce (2020: US$1,013 per ounce)

-- All-In Sustaining Cost for the Period of US$1,307 per ounce (2020:
US$1,298 per ounce)
Operational Highlights

-- Third quarter gold production of 9,035 ounces, a 33 per cent improvement
compared to the same period of 2020 (Q3 2020: 6,790 ounces). Gold
production for the year to date ("ytd") is 26,190 ounces, in line with
guidance (2020 ytd: 24,314 ounces).

-- Total ore mined during the quarter of 42,240 tonnes at 7.18 grammes per
tonne ("g/t") of gold (Q3 2020; 44,097 tonnes at 4.84 g/t), the highest
quarterly mined grade since the first quarter of 2019 and a 28 per cent
improvement in grade compared to the average for 2020.

-- 41,995 tonnes of run of mine ("ROM") ore were processed during the
quarter through the plant from the combined Palito and São Chico
orebodies, with an average grade of 7.20 g/t of gold (Q3 2020: 46,135
tonnes at 4.75 g/t), a 28 per cent improvement on the average plant grade
for 2020.

-- 2,842 metres of horizontal development completed during the quarter,
bringing the year-to-date total to 9,376 metres.

-- CV-19 protocols established to support the return to full operations in
the fourth quarter of 2020, remain in place, and supply chains continue
to improve.
Clive Line, CFO of Serabi commented,

"Gold sales completed during the nine months to 30 September 2021 have totalled 25,434 ounces with total production for the period being 26,190 ounces with the third quarter representing another solid quarter of production with 9,035 ounces of gold.

"Operating costs have increased year on year by US$2.3 million, following the return of contractors to undertake underground drilling activities. US$1.0 million has been incurred in underground drilling year to date to improve short term and long term mine planning. Labour costs have also increased by US$0.76 million compared with 2020 reflecting the return to normal working routines compared with the lower staffing levels experienced during 2020 when at the peak of the pandemic it was necessary to reduce staff headcount at the mine sites.

"Whilst the AISC for the year to date of US$1,307 per ounce is slightly higher than that for the equivalent period in 2020, this is reflective of the increased level of mine development. The cash cost of production has reduced by 4% to US$976 per ounce.

"Cash holdings of US$15.2 million at the end of the period reflect operating cash flow of US$8.15 million from the Palito Complex operations, including mine development of US$3.8 million. Expenditure during the last 3 months on the Coringa operation has increased significantly following the start of the initial mine development including the establishment of the mine portal for the Serra deposit. The ramp has now achieved approximately 90 metres of development. Expenditure on the project in the nine months to the end of September was US$3.0 million with US$1.7 million incurred in the third quarter.

"Expenditure on purchases of new plant and equipment, exploration activities and the development of Coringa has totalled US$8.7 million for the year to date which has been met by the cash flow being generated by the current production operations.

"The financial results reflect the continuing benefits of solid gold production over the first nine months of 2021, a continued strong gold price and favourable exchange rates resulting in an EBITDA of US$15 million for the year to date.

"Gold prices, in USD terms, have fluctuated over the last two months in reaction to perceptions of world economies starting to improve and in particular signals of future interest rate increases in the United States and risk appetite. These fluctuations generally have been following movements in the US dollar against other world currencies and has been reflected in the relative movements of the Brazilian Real. The gold price in BRL terms remains strong."

[borisjohnsonshair] 30/11/2021 07:42

Solid business cracking onto the doubling production after Coringa completion. Everyone knows where this will be in 1 year, its just how cheap and early they want to get in. PE ratio at around 7

[imastu pidgitaswell] 30/11/2021 06:23

Hochschild (who were a bit busy last week, trying to stay in business) are buying a Brazilian gold miner:

[backinblack80] 29/11/2021 22:56

Major reshuffle and reorganisation in Brazil and mine development underway at Coringa.....is MH really still in his conservatory?

[kennyp52] 29/11/2021 21:20

Which idiot wrote this ..

“Shareholders (or any other person they might otherwise appoint as proxy) are not permitted to attend the EGM in person”

You cannot have an EGM without shareholders and cannot restrict access thereto . If people don’t know what they are on about please don’t post .. come on .. who was it ?

Clearly they are making it as difficult as possible to have to face the music .

[millwallfan] 28/11/2021 16:47

Cotton. If u r 100% sure you never provided your new card details to ADVFN then I would suggest you ask your bank on what basis they made the payment. If they cannot provide a legally sound response then ask them to reverse the transaction as it has never been authorised by yourself. Just a suggestion.

[borisjohnsonshair] 27/11/2021 10:45

Elevate the issue to a higher level.

[cotton4] 27/11/2021 10:00

Since the start of the new contract, I haven't been on level 2, so I don't think I have accepted the service. When is the point of sale in my instance? By th eway, thanks Plat for answering.

[plat hunter] 27/11/2021 09:41

Also the 14 day cooling off period is a statutory consumer right pursuant to distance selling guidelines and applies only at the point of sale. It's a mechanism which protects people from aggressive sales techniques or misleading claims.

[plat hunter] 27/11/2021 09:37

So you accepted the delivery of a service/goods and now upset you have to pay for it?Always cancel the subscription or make sure the actual card details are cancelled by reporting it lost, that way the 16 digit card number and security code will be different on re-issue.