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It's easy to see gold falling and think this SP might follow but you need to give yourself a slap in the face if like me, that happens. After the recent fall POG is still $2330, at ~10000 ounces per quarter that is around $8.5m ebitda, more than 1/7th of the mcap every 3 months.
For a company that's debt free with long mine life and low cost options to grow substantially in size it's unbelievably cheap. Staggeringly cheap.
This is far too cheap,I cannot see this being this s.p. for long,company has huge cash pile ,which is growing daily,and production levels about to be improved considerably,market just needs time to realise the truth here. I would think 150p is realistic for this year.
You cant instantly arbitrage with stocks on unconnected markets. SRB lists on three. Although prices differences may exists, base on spot FOREX, no arbitrage opportunity exists. Buying equity at different value does.
Are you unable to get another broker?
The other shares you post about are not listed in Canada, which is odd
I own my SRB shares via the TSX as my broker does not allow me to buy in London.
The volumes were low in December, but now they are trading at multiples of this.
The price in London will shortly follow as the arbitrage opportunity becomes larger.
What you have said is true,the London markets are out of sync with reality in many cases. That is why my capital is tied up entirely in the UK market ,as eventually the UK market will catch up,and to the benefit of all present investors. Time and patience is just needed. Real value will emerge.
AIM is part of the LSE. SRB is on the AIM market.
Refer to the company website investor section.
"If management were planning a buyout they would not have interviews with financial journalistic promoting the company would they?" - I believe that Eric Zurin, the boss of SHG did hold interviews, so you are wrong.
My comments are not intended to imply anything about the management of SRB, nor about the integrity of Eric Zurin. He might well have believed that the offer price was fair, after all "fair" is a matter of opinion.
"Serabi closed at $1.44 on TSX yesterday equivalent to 84p a share" - see what I said about London fund managers and Kirkland Lake Gold.
SRB is on the LSE, but many small gold miners are on the AIM and that is worse for undervaluing companies. A few days ago, on the business section of Radio Four's Today programme this was the topic under discussion. They spoke to a business analyst who said so, and to the boss of a biotech company that de-listed from the AIM and listed in Amsterdam. He said how the AIM didn't value his company fairly. He said that companies like his had moved to other markets and they were valued at 10 times, 20 times or even 50 times what they were in London.
The City of London is corrupt. They don't care about supporting businesses and the British economy, all they are interested in is lining their own pockets - but you didn't need me to tell you that.
TSX. Easily worth 84p. This is a big anomoly priced at around 65p. TSX buyers should step in and buy at these absurd UK prices. What is to stop them?
Serabi closed at $1.44 on TSX yesterday equivalent to 84p a share. Up c. 33% on the day. Low volume but 150% higher than the daily average seen there. It will be interesting to see if it holds but it's a sizeable difference right now.
Perhaps they get how good yesterday's update was more than UK investors currently do.
Back on board but with less shares than in 2023. Confident we will see 80p a share in 2024.
The stock, up 37% in the year to date, advanced a further 5.5p to 64p. Peel Hunt reckons there is further to go for the share price as it set an 80p target and reiterated its 'buy' advice.
"We are now beginning to see the fruits of Serabi’s development work at Coringa, with the new GUIA trial mining licence providing the comfort of three more years of operation on site," said the broker in a note to clients.
"We believe the market continues to underestimate Serabi’s value proposition, especially the increase in mine life and the efficiency impact of the new ore sorter at Coringa."
The Shanta acquirers were very clever to get the ball rolling through 2023 and pouncing in December before the really big moves in gold were seen and looking back you can start to see that Eric took his foot off the gas from about the summer onwards, presumedly because he was incentivised to keep attention off Shanta.
If the same had been attempted at Serabi then i'm sure they'd have got a sale away at around 60p but now the gold bull run is well and truly happening by the time something similar is worked the Serabi share price will probably already be close to a pound and a premium on that would be needed - whatever happens SHs will gain by holding at these levels.
Pedro I have been invested here since early 2013 and never out.
Obviously i have brought and sold some at times but im massively invested here and elsewhere .
Having fingers in many pies is a good thing and i sleep incredibly well at night.
In my time investing i have seen so much and as i stated before and im fully behind it and say again when it comes to money ZERO loyalty.
The cash in bank and rising production allied with a rampant gold price,must be more reassurance for you to sleep at night,surely?
SilverSlippy. If you feel like that it must be difficult to sleep at night whatever share you hold. Management here actively supporting the share price by actions in the business and in the media.What more reassurance can you get? Totally the opposite of SHG,would you not say?
I'd like to agree but when it comes to money there is zero loyalty.
If management were planning a buyout they would not have interviews with financial journalistic promoting the company would they?…SHG did the opposite they played down everything to share holders,so SRB are playing a straight game and management should be applauded,in my opinion.SRB definitely not the shysters at SHG!
"to potentially bring forward plans " - SHG had plans and with years of hard work they successfully carried them out - but the long-term shareholders didn't get their just rewards. Buyers stepped in and snatched the company away from them.
Please bear in mind austrochris that in today's Crux interview the CEO indicated that they were looking to potentially bring forward plans for a ball mill installation at Palito. Currently scheduled for 2027 (which was news to me).
This could potentially increase production to 70 Koz in 2026 rather than the current 60 Koz. This still needs to be proven but high gold prices drive better options for producers who are in the expansion phase.
That aside today's update majorly de-risks the plans associated with getting to 60 Koz with a strong belief from management that close to 50 Koz will be hit in 2025.
Cash levels are proving strong enough to feed both the expansion at Coringa and exploration at Sao Domingos where in 2021 Serabi returned 7.15 metres at 258.24 g/t. It was one of the top 10 gold intercepts for a TSX-listed company that year. Since then exploration has gone dead because Serabi had no spare funds. So the fact they are returning there whilst also building out Coringa is significant. It says cash flows are strong. What it also indicates is that exploration news will ramp up which could be a strong additional SP driver.
The ore sorter clearing customs quickly should also not be overlooked. Brazil can be difficult on this front. It means the build-out at Coringa now sits entirely with Serabi. Hence why the end of Q3 is being earmarked for ramp-up.
So funding and equipment both de-risked.
Coringa mine development is next. Strong progress on that front means more confidence in forward production plans = more confidence in guidance for both 2024 and 2025.
USD/BRL is also favourable driving down costs and raising margins at just the right time.
Then think about just how large a stockpile of material must already be sitting at Coringa following 2 years of selective grade transport to Palito due to the 50,000-ton trial license transportation limit.
£44m enterprise value for a company with little or no debt that currently requires no further debt to reach 60,000 oz production and post today's update is much closer to achieving its initial growth goals than the valuation currently allows for. If they push to 70 Koz all the better, If they hit big on exploration it's a bonus. As is the signing up a large gold producer as partner to reall push exploration but it may end up being the beginning of the end. be it the SP should have a good run before it comes.
Strong hold for me this one.
"I sold for a very quick and healthy profit" - very nice for you, but I was in it for years. I stuck by it waiting for the good times to arrive. Then just as all the years of building a great company was about to pay off and the shareholders should have got their just rewards, it was snatched away, so your post carries a lesson Pedro - don't show loyalty, when you see a decent gain, grab the money and run and look for your next investment.
"Value is value" - true, and the buyers of SHG got a company worth at least 20p a share for less than 15p. What is 5p times the millions of shares? They took millions of pounds of our money.
"this is in the middle of a big rerate" - SHG was due for a rerate after the new mine came into production. The share price failed to reflect the true value of that, so the buyers got it on the cheap - which was, of course why they wanted it.
"the longer this share price goes up the bigger the price needed for a buyout would have to be" - I hope it does go up, but until it does, SRB could be taken as SHG was, and Amara and TSG. Yes, we should get more than today's price, but buyers want to pay less than the real value. UK fund managers under-value gold miners. Look at what happened to Kirkland Lake Gold when it was listed in London - no interest, day after day, week after week of no trades. The volume was so low that it de-listed from London and just stuck to its Toronto listing.
After that, the share price went up by 50 times - and the London fund managers couldn't see the value T0ssers.
Also,it must be pointed out that this is in the middle of a big rerate and the longer this share price goes up the bigger the price needed for a buyout would have to be.