Serabi Gold Share Discussion Threads

[borisjohnsonshair] 31/1/2024 12:20

Yep, you heard it all here first. You'd better buy some LOSER. You might have a rare result.

[trader465] 31/1/2024 12:17

Total equity £81m, market cap £37m 30% cash, production increasing and gold price near all time high, what’s not to like petal? 600p soon 👍

[borisjohnsonshair] 31/1/2024 11:35

That's the 5th time you've brought at the peak and sold low. Incredible

[borisjohnsonshair] 31/1/2024 11:34

Hilarious, you sold out again at 38p.

[saint in exile] 31/1/2024 10:59

Theres so few shares in issue it will definitely move quickly if theres any kind of volume

[ppvn] 31/1/2024 10:31

Nice to be reminded how quick this one moves when there is good news out there.

Thought the most interesting part of the BRR interview was the indication that Vale would continue the partnership to be honest. Good news about coringa and the rest but Vale news or a feasibility study could be so much bigger. Anyway onwards and hopefully upwards.

[borisjohnsonshair] 31/1/2024 09:50

Last week was hopefully 2024, now trial license renewed it's stated as "Q2 2024". The authorities have given the nod.

[bsg] 31/1/2024 09:35

Also how far away is full licence? It's not going to be soon as why bother with a trial licence.

[borisjohnsonshair] 31/1/2024 09:31

Project derisked my friend.

[golden prospect] 31/1/2024 09:27

Unfortunately the ore sorter for Coringa is expected to be operational by Q4-2024,
so little impact for 2024.

[bsg] 31/1/2024 08:48

Does this mean another three years of bumbling along?

[borisjohnsonshair] 31/1/2024 08:38

Big news. Market knows.

[stevea171] 31/1/2024 08:31

Trial mining license at Coringa renewed for a further three years
Today 07:00

Serabi Gold plc is pleased to announce a three year renewal of the trial mining licence for its wholly owned Coringa mine.

HIGHLIGHTS

The National Mining Agency (ANM) has issued a renewal of the Company’s trial mining licence (“GU") for Coringa for an additional three years, demonstrating continued stakeholder support for Coringa. The GU permits the transport of up to 50,000 tonnes of ore per annum from Coringa, to be processed at the Palito Complex. The environmental agency Secretaria de Estado de Meio Ambiente e Sustentabilidade (“SEMAS”) is continuing its analysis of the company’s application for the Installation Licence for Coringa but has confirmed that the Company’s Trial Mining Operating Licence (“GUOL”) remains active and valid. Serabi is now permitted to install the planned crusher and ore sorter, the latter expected to be operational by Q4-2024 The official announcement of the three-year renewal of the GU was published on 29 January 2024. Company guidance of FY 2024 consolidated gold production remains at 38,000 – 40,000 ounces.

Mike Hodgson, CEO of Serabi, commented:

“This is extremely welcome news, which our management and legal team have been working on tirelessly over the past months. The agreement reached in July 2023 with the indigenous communities has been a pivotal moment in permitting success at Coringa followed by a further agreement with all parties signed in December 2023 and sanctioned by the court allowing the ANM and SEMAS to renew the existing licences.

The new GU allows us to continue our current operations and importantly we are allowed to install the planned crusher and ore sorter under this and the accompanying GUOL. Whilst the permit has an annual limitation of 50,000 tonnes of ore that can be transported per annum from the mine, this would be sufficient for 2024, whilst we now focus on completing the final steps to complete the full permitting at Coringa.

[bsg] 31/1/2024 08:06

Disappointing, that's no surprise.

[golden prospect] 31/1/2024 07:54

The "satisfactory" but not exceptional, outstanding, or robust Q4 resulted in a miss for 2023 guidance - a huge disappointment. Clearly they mined and processed more to try and catch-up but grades dropped off significantly. If gold had reversed the business may have been loss-making, and this exposes their marginal ops.

The news today re extended trial permit at Coringa is only for 50,000 tonnes which is hardly anything to get excited about. However, the permission for ore sorter is a noted contributor; shame this will have little impact for 2024 production (late decision making ?)

I am afraid to say the vision for growth at Serabi is disappointing.

[borisjohnsonshair] 31/1/2024 07:24

Great news!!! Stability

[stevea171] 30/1/2024 19:34

From booboouberbear, LSE. Re RNS.

He should be bullish. As per the Q4 2023 Production RNS, they are moving into the higher grade ore body at the G3 North area, as per the details below, this should be double the Au ore grade, if you shift the same ore, spend the same operational CAPEX on a volume for volume basis, we could double production when into the G3 North ore body when comparing the grades.

Q1 2024 should be instantly better, I expect the operational sweet spot to be Q2/Q3 2024 as is the case with previous operational years and results.

From Q4 2023 Production RNS of 29 January 2024:

‘Total ore mined from the Palito Complex during the quarter was 35,497 tonnes at 4.78 g/t compared to 35,219 tonnes at 6.81 g/t of gold for the third quarter of 2023. Palito grades for the year averaged 6.12 g/t gold. Most of the ore is being generated from the Ipe and Mogno veins, but development of the G3 North area is well underway, and this sector will be a significant ore source over the next two years.’

From the Palito Mining Complex NI 43-101 Technical Report on the Company Website, dated 20 November 2023:



Page 109 – Table 14-17: Mineral Resource Statements Per Vein (Measured + Indicated) – Palito Mine:

Vein G3:
Tonnage (t): 194,314. Au (g/t): 10.35. Au (Oz): 64,688.

Page 110 – Table 14-18: Mineral Resource Statements per Vein (Inferred) – Palito Mine:

Vein G3:
Tonnage (t): 343,936. Au (g/t): 8.03. Au (Oz): 88,812.

[loganair] 30/1/2024 16:06

With the suspension of mining at Sao Chico, Serabi lost circa 25Koz Gold production.

Take this off the 50koz that Serabi reported at the end of 2020, brings production down to 35koz.

[trader465] 30/1/2024 15:21

The gold price hasn’t fallen bellow $2,000 (yet) this year

[stevea171] 30/1/2024 14:56

Serabi Gold - Operational Update
Mon, 29 Jan 2024, 04:45pm GMT
Mike Hodgson, CEO, interview



40,000 ounces this year can be achieved with no additional manpower, no additional personnel arriving on-site and recently agreed, underground workers at Palito now doing longer shifts.
In both cases there is more production, more productivity, lower costs and improved cash flow even if the gold price does not rise from here.