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SRB Serabi Gold Plc

1.00 (1.54%)
Last Updated: 08:00:19
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Serabi Gold Plc LSE:SRB London Ordinary Share GB00BG5NDX91 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  1.00 1.54% 66.00 65.00 67.00 66.00 66.00 66.00 73,048 08:00:19
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Gold Ores 63.71M 1.14M 0.0150 44.00 49.23M
Serabi Gold Plc is listed in the Gold Ores sector of the London Stock Exchange with ticker SRB. The last closing price for Serabi Gold was 65p. Over the last year, Serabi Gold shares have traded in a share price range of 21.25p to 72.00p.

Serabi Gold currently has 75,734,551 shares in issue. The market capitalisation of Serabi Gold is £49.23 million. Serabi Gold has a price to earnings ratio (PE ratio) of 44.00.

Serabi Gold Share Discussion Threads

Showing 22576 to 22599 of 22625 messages
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News .. Clive Line is sipping his Earl Gray is his Surrey conservatory and Mike forgot he was making a transformational report today ! [edit] .. I take it all back !
What happened to the expected news?
I am not expecting anything tomorrow although an out of the blue announcement that a permanent licence for coringa has been granted would be most welcome lol. More focused on second quarter production announcement and waiting for the gold price breakout from 2300 to gain traction. This share is an easy hold for now
Looks like many expect disappointing news tomorrow.
R777, my expectation is based on the Chairman's statement within the notice of AGM date "I look forward to reporting further progress on 13 June". I've reread and it may relate to all matters, however, I interpreted it to be specifically the License. We will see tomorrow ..... good luck.
I doubt there will be anything revealed on Coringa that is new information given we had the interim info end of May.
An update on the Coringa License will be issued tomorrow. A "pivotal" issue, so news of progress is required.
Lets hope they're keeping a close eye on their AISC.
Of course …
Blah di blah..

Every opening bell in London the gold price is dragged back down 🤷‍a94;️
Political manipulation ??

What I've been hearing is that the Smart Money is expecting the average price of gold for the year to be around $2,350 to $2,400 which suggests the price of gold in the second half of 2024 will be higher then for the first half of the year.
And there's the expected 70p break out
First quarter 2024 earnings released: EPS: US$0.048 (vs US$0.019 in 1Q 2023)

First quarter 2024 results:

EPS: US$0.048 (up from US$0.019 in 1Q 2023).
Revenue: US$20.2m (up 51% from 1Q 2023).
Net income: US$3.64m (up 148% from 1Q 2023).

Profit margin: 18% (up from 11% in 1Q 2023). The increase in margin was driven by higher revenue.

Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 1.5% growth forecast for the Metals and Mining industry in the United Kingdom.

Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has remained flat, which means it is well ahead of earnings.

A good reminder. Somewhere recently there was a brief reference to a potential further Ball Mill at Palito, in due course. I expect the the Coringa full licensing and full process plant aspects will play out first
This is what MH said mid April:

2025 - Mid to high 40's thousand oz gold producer.
2026 - 60koz, then 70koz a year later.

All paid for out of profits, out of Free Cash Flow, not out of debt.

Serabi will need another plant even after the new ore sorter becomes operational to get the company to 60koz/70koz.

Looking for a replacement for Vale - this time being more interested in Gold rather than just Copper as Vale was.

Comment .. it’s undervalued if they hit guidance
From Tamesis note: 30 May 2024

Outlook. The company re-iterated guidance in their last quarterly update. The Brazilian Real has weakened to the US dollar since March to 5.10 vs Q1’s average of 4.95. The effect of this will come through in the reported figures for Q2, which will lower the cost, and improve their earnings. Q2 will also see the benefit from the strong gold price as well, at an average price $2,339/oz from 1 April – 29 May, with spot at $2,340/oz. The capital light expansion via the crusher and ore-sorter remains on track for Q4. The ore sorter cleared customs in April and has been delivered to site, and ground works required for installing the crushing plant and the related infrastructure are underway. The costs from the mine development and the expansion at Coringa are upfront costs, and the benefits will be realised in Q4 and onwards, through improved grades from ore-sorting and the flow through to reduced trucking and processing costs per ounce. Furthermore, we expect mining rates and processing to continue to be strong.

Investment Case
Tailwinds from the weaker Brazilian Real and strong gold price are expected to deliver a strong Q2. We estimate group production of 39koz in FY24, and rising to 45koz in FY25. At spot pricing, the growing production profile delivers an EBITDA of $39.6m and $52.9m for FY24 and FY25 respectively. This translates to an EV/EBITDA of 1.5x and 1.1x, and PE of 2.1x and 1.5x. We maintain our target price of 110pps.

5% rise and no news or comments ????
Millwallfan. Yes, a lot of risks at the macro level with movement towards more war but imo if the world survives gold is hardly likely to be crushed! Fwiw $3k seems more likely than sub $2k and we should see SRB AISC come down from the elevated Q1 result which the company gave an explanation for.

We need to see Q2/H1 results to get a better handle on gold pricing, profit, AISC, EPS etc but as of today there is only 1 month left in the HY so I expect we are on track for decent improvement on recent metrics.

I understand the frustration of LT holders who want to see delivery of actual progress rather than more pie in the sky blather ....!!

Steve. I do really hope your projections come to fruition. However I think there are too many uncontrollable world and local risks for me to make predictions at this stage. POG could go either way dependent on world events ( e.g. the two wars) and general market sentiment, so let’s hope the $3k analysts prove to be correct rather than a retrace to sub $2k. I am concerned about their ability to achieve a substantial reduction in the AISC and the risk it could go higher. The delays in the licence are both annoying and the market sees it as a big negative. There have been promises after promises on total production ( I bought in many years ago when 100k was supposed to be within the year !). However, I still remain fairly bullish for a 2-3 year decent return and am now fortunately close to break even after years of being underwater !! Good luck to all LTHs !
Millwallfan. Q1 profit of 3.8p was from 9k oz gold sales at av $2081 and AISC $1859 from the financial data released this week. So the margin was $222. The next 3 quarters should do better than this but see what you think ....
Steve. Does your estimate of 18p per share earnings for the current year take account of the significant increase in the AISC ? It seems very optimistic even with a gold average $2,300. 18p represents almost a 30% return on current share price. Can you please explain in more detail your calculations. Thank you.
SRB Profit per share of 4.80 cents (Q1-2023: 1.94 cents) based on $2081 gold price.

Q1 profit 4.8c = 3.8p

FY24 EPS approx 18p.

PE ratio: 3.6

The $2300 gold price has really only applied from 5th April ie Q2 so far, so higher earnings should be possible Q2 to Q4 if gold $2300 holds or moves higher.

Cheap as chips!

TF. It seems they are expecting the crusher and ore sorter at Coringa to be operational by about the beginning of Q4 so they get the full Q benefit of higher production and lower costs.

So they may be only a few months away from tuning and commissioning the new ore sorter which should bring FY24 production to 38-40k oz and FY25 approx 60k oz if all goes well!

"The ground works required for installing the crushing plant and the related infrastructure for the ore sorter are progressing well with the intention that the plant can be operational for the fourth quarter of this year, processing some of the lower grade material that has been stockpiled at Coringa and boosting gold production in that last three-month period."

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