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Yep by 30th June is a few weeks away.
The Company remains confident that based on the results of the enquiries
to date, the Financial Statements will be issued prior to 30 June 2021.
Taser - fair commentary on all that has happened so far although I thought you were a bit harsh on stuttering bit. Not sure I could have done any better and I don't stutter! Shame they didn't touch on the fraud and delay to accounts. I know it is a bit sensitive but to completely ignore the elephant in the room was a disappointment.
The drilling results looked good and I liked his point about no extra drilling ramp required since they can just drill through to the new veins.
It's always difficult to attempt to put hard figures on drilling results but it looks like the they are at the very least maintaining reserves at Palito on the back of the downward drilling. As far as surface results go. Yes they don't look too good but clearly there is gold further to the North and South (400-600 metres I think he said). Again it's difficult to know what this means in terms of increased potential.
Do you know how long the existing vein structures are for Mogno and Ipe. I can't seem to make it out from the drawings.
Still you're right about negative goodwill. It seems to exist for pretty much the entire Junior Miner Sector!
https://www.brrmedia.co.uk/broadcasts/609aa955576c9638976d60ea/serabi-gold-exploration-drilling-update/
MH stuttered a bit over the April Production figures at the end of the interview 'April on budget, slightly....'
But the truth here is that the expo reports (and another one seemingly coming before the end of May) are having a minimal impact on the SP. The truth is there is an element of mistrust and reticence to believe the plans until it is actually achieved. Goodwill seems to be in negative territory and rightly so based on what has happened in the last few months/years.
I believe they need to bring onboard a respected figure with a background in meeting and managing delivery targets from a tier 1 company. at the moment enticing new investors seems to be challenging. Barring a spike in the gold price we need to wait until the accounts are published (and analysed) before we can expect any truly positive movement. The fact that there was an update a few days ago, in reference the accounts, makes me think they are still some weeks off being finalised.
'The surface DD' drilling results were not great but at lower depths great grades for Mogno lobe in particular.
The financial irregularities rumble on back as far as 2015. Therefore we must question the due diligence of the accountants and their responsibilities in terms of the sign off. Again we are talking relatively small sums of cash of 200K (plus I expect false expense claims) but it is the time period that raises concerns. I think we can infer the 2 managers that have been suspended are therefore long term employees. It is disappointing that this has gone on so long without being picked up. In fact as mentioned before the cost of the legal and forensic accountants will be higher than the sums taken. I don't expect the cash to be recovered even if the managers prove to be the culprits
The issue now for the sp is twofold. One the reputational damage and question marks over the CFO and secondly until the accounts are published there is a risk however minimal that post 30th June the company could be suspended. Now I don't think that will happen but rather like option expiry dates as we move forward each day the % risk changes. It is dynamic and however unpalatable to consider it remains a burden.
Lastly, ideally we wanted the accounts out and behind us. The revenue for qtr 3 will be adjusted down by 800K and the low production combined with the extra costs documented for Qtr 4 will be detrimental to the final figures and therefore the ratios credit analysts use to measure the health of the company. But this is a given and hopefully factored in.
Qtr2 production should see a considerable increase in production over qtr 1 (deemed a 'short' quarter in Brazil and we were still increasing the optionality that is so crucial to processing the higher grades) and although stockpiles are running thin there should be enough throughput to not only overcome this but to lead us to expect a RNS in June/July stating the Ore Sorter is back in play which will be a genuine reason to celebrate.
Also in July we will hopefully 'break rock' at Coringa again a landmark occasion for the company.
So get the accounts out asap and move on, build credibility by hitting milestones, get production up over 10,000 a qtr for H2 and constantly provide expo updates. Firming up the resources will take time but barring any more hiccups true value should be seen H2 not any earlier
Hmmm are we talking bitcoin now?
Back to 50 is my prediction
Pedro, why is it a great buying opp, looks well overpriced to me. Can see this sink big time.
Usernamedbut1, if you think Bushy is negative have a look at Pedros posts on Boo. Constantly spurting cr#p and not invested.
There's idiots on all boards unfortunately.
Maybe,but what a great buying opportunity.
Once the accounts are released should help the SP move north. You can't deny that it may be putting people off.
Unfortunately Pedro, Bushy only wants to be negative on here. Not worth the response.
Next time best to ignore.
These types of people are sadly all over bb’s. Manipulating info known into an attempt of negative. Glass half full or empty.... answer’s the same but sounds so different.
Plenty of time.Company stated they will be in.Too cheap,should be much ,much more.Concentrate on how much money the company will be making if things go to plan.Crazy price at the moment.Wont last long.
Until SRB get hit with a notice of suspension.
Where's those audited accounts?