Serabi Gold Share Discussion Threads

[golden prospect] 06/1/2022 12:24

Given all that is happening around the world with covid, well done Serabi for making 2021 guidance. Plus they communicate well and the story looks one of value.

[cotton4] 06/1/2022 12:03

Serious investment in infrastructure in the region is a statement.

[plat hunter] 06/1/2022 11:39

Fingers crossed they don't lose the Coringa licence.Statement from the gov, on mining licences needed here now.

[golden prospect] 06/1/2022 09:26

Seems like exciting times ahead, well done Serabi especially on Coringa work.
Plenty of cash, debt free and hitting high grades for current production.





Next update in the next week or two (according to interview) as they hit 3 veins at Coringa.

[kennyp52] 05/1/2022 21:33

MCAP below book value ; profits could be 20% thereof ; if it wasn’t for the lack of confidence in the directors this would have flown on those results today. Wasn’t so long back this was comfortable holding 90p+ so they have a lot of ground to make up and a lot of bridges to build with investors. Fundamentals are obvious .

[francisthornhill] 05/1/2022 12:01

Great results

[golden prospect] 05/1/2022 09:33

Next week may be Q4 news

The 2021 production guidance is between 33,000 and 36,000 ounces.

Q3 YTD 26,510 ounces, in line with guidance (2020 ytd: 24,314 ounces).

[golden prospect] 05/1/2022 09:10

Some great grades, well done Serabi

[trader465] 04/1/2022 21:40

Boris my good friend - how’s the blood pressure sir? Looks like your grandchildren will be claiming income support?

[golden prospect] 04/1/2022 21:18

Project acquired for $115m

[golden prospect] 04/1/2022 21:13

From company website:

"The Company believes that the Jardim do Ouro Project area, surrounding the Palito and Sao Chico Gold Mines, has significant potential for resource growth. Additional gold discoveries have been made by the Company in close proximity to the existing Palito orebody which do not form part of the current Mineral Resource estimate, whilst in close proximity to the Sao Chico orebody the Company has very encouraging exploration results and there are a significant number of historical areas of artisanal mining activity. The company also considers that the recently acquired Coringa Project has significant opportunity for resource growth and will look to increase the existing Mineral Resource through drilling other known gold discoveries that lie within the existing tenement holding.

The Jardim do Ouro Project lies on the NW-SE trending Tocantinzinho Trend, which is the major controlling structural feature in the Tapajos region. Lying along this same trend, some 30 km to the south east of the Palito Mine, is the Sao Jorge gold deposit owned by Brazilian Gold Corporation and 70 km to the northwest lies the Tocatinzinho gold project owned by Eldorado Gold Corporation (measured and indicated mineral resources of 2.1 million ounces and inferred mineral resources of 0.4 million ounces), who also hold 4.9% of the issued share capital of the Company.
"

[tiger60] 04/1/2022 20:36

Some good news coming your way; high grade intercepts encountered at San Chico

The company assesses that Gabi has significant potential for the growth of asset resources in the PA

[plat hunter] 04/1/2022 17:13

Up day tomorrow...i reckon Boris is getting warmed up ready for some keyboard action

[plat hunter] 04/1/2022 08:41

Not conventional but i use 30 x 12...I like to count short where i can as it gives you more of a buffer.I wanna be in a conservative ball park, rather than trying to pin point.

[kennyp52] 03/1/2022 22:11

52 weeks ; 13 x 4 week periods .. easier and more accurate to account for most production companies 🤷‍a94;️

[tightfist] 01/1/2022 08:59

If I was in-charge of the accounting rule book, I would have everyone accruing the prospective 13/14th month costs (~+7%) at each month-end.I always knew that accounting would not be be good fit for me....... tightfist

[imastu pidgitaswell] 31/12/2021 09:11

Yes, I know. A number of years of exposure/audit of '13th month' regimes and even the odd '14 month' one in a particularly undistinguished accounting career (RIP) made me familiar with it.

Although it's true that more than once, the accounting was on a cash basis - i.e. two months of costs recorded in December, not spread evenly. Ah, fun times...🤓

[trader465] 31/12/2021 09:02

I would think they’ll be claiming their attendance allowance for 2021 too ;-)

Where’s my mate Boris? Did he choke on his sprouts?

[tightfist] 31/12/2021 08:54

Hi,I think Cotton was referring to the accounting treatment of the annual mandatory bonuses:https://en.m.wikipedia.org/wiki/Thirteenth_salary.To a Brit, the concept of a "mandatory bonus" is still a bit weird - I suppose you can alternatively view it as suppressed pay rates for the other 10/11 months.......Cheers, tightfist

[imastu pidgitaswell] 31/12/2021 08:26

P/L, cashflow and correct accounting are terms known very broadly by Pinky and Perky, our resident CEO and CFO.

Bonuses - they know what those are though...

[cotton4] 31/12/2021 07:16

Bonuses should only affect cash flow. Provision should be made for them in p/l a/c during the year.

[cotton4] 30/12/2021 20:43

Sorry Tiger - Should have been $ not £

[tiger60] 30/12/2021 18:29

From memory PBT for 9 months just under $11m. How do you get to £15m for the full year? And keep in mind costs for qtr 4 need to include ‘bonus’ month.

As for the theory that it wasn’t SRB’s retained auditors Deloittes who found the discrepancies goes against the facts but populist posts that suggest it was discovered during an unreported due diligence exercise related to a possible takeover may help some sleep better.

The whole sector is undervalued and unloved at the moment add to that SRBs company level issues then a pullback was inevitable. They need to prove that production levels can get back to 10,000+ a quarter and thereby reduce the extremely high AISC.

As to Coringa delays equals costs and there is no way this will be producing qtr 1 2023 or even qtr 2. But I agree undervalued against its current set up but a large discount factored in based on management’s performance.

[cotton4] 30/12/2021 18:17

Hi Tightfist

FCF will depend on how much is spent on exploration but I am looking for £15m pbt for 2021.

[tightfist] 30/12/2021 17:49

Hi Kenny; thoughts - if one was to immediately shutdown Coringa development and all greenfield exploration, then I believe SRB Palito/SC would generate an FCF of circa £11m pa at the current PoG. (Cotton, you are possibly closer to the numbers?).At 90p share price SRB would have an Enterprise Value of £53m and hence a free cash yield at the current PoG of 20.6%. .90p would be far too low - (Coringa and greenfield exploration may actually add some further prospective value - eg maybe take a look at TSXV GMining or Cabral Gold further along trend). Cheers, tightfist