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Worst case scenario for this company is Coringa license does not come through. We are left with Palito and two ore sorters. Production at 30,000 oz pa. Gold slumps to $1700. Company is still worth around 20p per share.
Best case Coringa license comes through, second ore sorter adds 50% production or more at Coringa, gold stays steady at $2000+. Vale exploration uncovers something commercially viable. Share value then is £3ish.
Downside is 33%, Upside is 1000%. That seems a reasonable investment proposition.
The s.p. may be down on results that were not as good as hoped,but,as pointed out by another poster this is historically to be expected,and then we get a very good 6 months to follow. Over reaction with cash balance protection and much anticipation of good news,in my opinion.
It is a small company and cash fluctuates. Wildly so in small companies. It does not mean they are badly run. It is just the nature of being small. Year end bonuses and the purchase of the new ore sorter are big numbers. You can't avoid cash going down. The immediate shrieking on these boards always for CEOs to be fired is absolutely bizarre. As far as I can tell this little mine has been quite conservatively run with a long term view.
Where are you now me old mucker? Presumably run away having pumped and dumped!
Just as well I've got to recognise types like you and generally do the opposite to what you preach...
I was expecting 10% Up not Down!
Surprised yet in the past 10 years I have formed the opinion that fundamentals count for zip.
I sometimes think we have coco the clown running this outfit . No license yet , failing on production , burning cash in Q4 ..
Cash balances at the end of December 2023 were $11.6 million which includes $0.6 million of funds held for the Vale Exploration Alliance. This compares with a cash balance of $15.3 million as at 30 September 2023
I agree with the sentiment IF THEY GET IT RIGHT blah blah .. but can they be trusted to ever get it right ? It looks more like a nice comfortable retirement package imho for the deadly duo . This might never realise its potential until we get changes at the top … all imho.
Q3 to Q4 in 2021 and 2022 saw the same drop off in ore milled and gold produced, same goes for cash held on books, 2023 was no different. This is due to various factors. Assuming 2024 mirrors the previous 3 years, then we will see a material jump in Q1 results on ore milled, gold produced and cash held on books, looks like quite a lot of 'inventory' went unsold, so I'm guessing they book that as a loss for the FY 2023 Year and sell it early in Q1 2024.
Chunky 38-40k guidance for 2024??? 9-10k per quarter for 2024, assuming wet season variables, they must expect a big Q1/Q2 2024?
Obvious slant towards Toronto with a new investor relations manager, given LSE liquidity and valuations, this is smart.
I'll add over the course of 2024, as the risk vs reward here is astronomical should they get it right at the same time sentiment comes back to this resources space.
It's mining, caveat emptor.
Third of mcap covered by cash - so sp looks too low to me.
Lots of cash.
A 60% increase in cash in hand to £11.5m! Not to be sniffed at. ATB
Yes, I did maybe 6 months ago. Risky punt but could see sp double in a year.
A good 2023, gold grades high and MRE increased substantially. What could possibly go wrong? Well it's Brasil so anything and everything!
Under TSX rules, there will have to be a Quarterly Update by months end, so by Wednesday at the latest.
It’s later than recent years quarterly results, so interesting to see if there is an operational reasons for that such as Coringa extension of trial licence or approval of installation licence outright.
The trial license has been continually extended over the past few years so every reason to assume that will happen again if all the 'remaining aspects of the consultation process' are not completed by the end of this month.
Aah, blind faith, can't beat it....
News due very soon which should be a catalyst for a rerate. Great cash position and growing by the day means this is very undervalued with little risk at this s.p.
Let's hope you don't regret it. The exploratory license for Coringa expires when? 27th? They're cutting it a bit fine...
Dumped half my position in Shanta and put it here inDecember. Last time i held Serabi i sold at 86p. Expexting a return to ptofit to accelerate things here and font want to lose exposure to gold.
Still no RNS re quarter 4 production figures? Wonder if were going to get a double whammy with the licence? Fingers crossed.......
Have been pondering over Seribi, although I have enough of them & most are due a recovery in sp. I also have observed Oriole Resources is beginning to pick up and have posted about gold in Cameroon today and has been posting good news for their prospects regarding funding etc. Had an investment in the previous company 'Stratex' & still have. They were 7p so Oriole seems very cheap although 3.86bn shares are currently in issue. But good luck with any gold investment, there is also Griffin Mining.
Watch Tavi Costa every week to his fund investors via his online presentations.
He has been banging for the last 150 weeks about how undervalued Precious metal and Latin America investments are, especially how his native Brazil commodities, indexes and constituents are so undervalued.
Sold my Serabi investment a few years back, but will start researching it again next week.
Will start reading this board again from now on…..
Anybody else on here still buying and see great value at current price levels?
Hopefully get qtr 4 results tomorrow.....normally on or around the 17th.....
Head scratcher when the value is so obvious...but...shares do girate up and down until they find their correct level...the direction is still up,and the next few months should show why...
Today's drop is a bit of a head-scratcher. Anyone identified a link?
Gold price means this is very much undervalued.With news around the corner expected to send the s.p. to over 120p ,in my opinion.This has been under the radar for too long and is only just gaining traction with investors.