Member Info for booboouberbear

A truly appalling RNS, almost certainly breaks impartiality rules on takeovers, by a guy who isn’t even on the BoD. Stinks of desperation to boot. What happened here?

Not a chartist.

Based on the truly appalling SHG buyout metrics of production ounces vs MCAP at approx £GBP of £1,415 per ounce in production, this is still below SHG in terms of MCAP / SP. At current 33k 2023 production we should be at 60p a share approximately, and on confirmation of 40k 2024 production, we should be circa 70+ per share. These are all based on being robbed at SHG rates.

So yes, a lot of room to run. I personally think a five figure production quarter can be delivered in Q1 this year, and if it can, and confirm circa 40k ounces per year, we should be closer £1 than 50p.

All this in a sector on its knees in valuation terms.

Good catch:

https://www.serabigold.com/investors/regulatory-news-alerts/

Anything that will seeour liquidity increase, or at least trying yo increase our liquidity on the US OTC Market, is good news. New website reads well too.

Afternoons now seem to have a strong buying bias towards them and have moved the SP North in the last few trading sessions. Possibly a TSX buying dynamic when that session opens Toronto time.

Considering all metrics on TSX comparable companies have much higher SPs than ours, bodes well if this is it / can continue.

Hi, had 1m shares, sold 500k to derisk and used them to buy here. Final 500k at Shanta will be used to vote against that abomination of a deal. But I had to derisk.

Total Ore mined from Coringa in 2023 was 42,780 tonnes, so under new temp licence we have a possible uplift of 17% available to ramp up in Ore throughput. Great news all round.

Great news, 3 years licence, pending full IL and also have permission to start installing the heavy plant in preparation of full start up of operations.

60k Oz pro rata sometime in 2025 IMO.

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:

https://serabigold.wpenginepowered.com/wp-content/uploads/2023/11/NI-43-101_Palito-Complex_20231120FINAL.pdf

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.

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.

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.

Some stunning intervals in there, which makes this offer the more sickening. Wait for the best Quarterly results in the companies history to be released later this month. Nothing short of theft has gone on here.

Picked up a few more here on weakness today. Gold flying again today and some good news hopefully out here in the next few weeks / months on quarterly results and Coringa.

Hopefully with the likes of Kave Sigaroudinia starting to load up here also is showing a willingness for some IIs to start to come back to this sector, liquidity / momentum is desperately needed.

Investing is risk, and the junior mining space is one of the riskiest places there is.

You might lose it all, make nothing, or make multiples on your investment, ‘caveat emptor’ is made of the junior mining space.

That is why what has happened here so infuriating, despite all the risk on my capital, over 3 years+ I picked a winner, I took all the risk and (minimal) reward, it’s a joke, and is putting yet another nail (and there aren’t many nails let to be hammered in) in the coffin of AIM / LSE with this kind of behaviour.

Re: SRB, I am also invested there, as I love the pure gold junior space play, again, as you point out there is a risk with Coringa (whatever you may perceive that to be), but that’s the point, if you take the risk and it pays off, then there is a potential lift in multiples on your investment if a company with a £35m MCAP ends up with 2 mines and 60k ounces a year production with Au at $2,050 and Oz near term.

And that is a risk I am happy with as long as the BoD have the best interest of shareholders at heart, and won’t simply shaft them in their own interests as has happened here. FWIW, at least SRB looks to be behaving normally in the market, an II has been loading up and it’s pushed the SP much higher, market forces at least apply there, unlike SHG where we were left asking ‘why is it not rising?’

Could close at an all time closing high today.

There's no question we've been screwed here. The question I guess is, do you stand and fight, keeping your capital tied up, or do you take your cash and go elsewhere and take better returns if you think Gold goes to ATHs from here and if you think miners will come back into fashion?

No right or wrong answers btw, it's yoyr money.

Of course he’s in on it, him, the NEDs, the NOMADS, they all know which side their bread is buttered, they don’t rock the boat, on to the next NED role with the next miner. It’s the system, and it’s designed to keep 99% out of making money.

To knock this down, what is the number we think we need? say the BoD can get to 300m shares...so 100m shares to be sure?

400m votes cast, 300M for, 100m against 25%+?

Maybe possible...

This is why liquidity (and by cause valuations) has disappeared on AIM, years of theft, today is just the latest footnote in AIM’s destruction, I will get out with a 30/35% profit, and it’s a nice profit, so, so be it, but it’s a shafting by the NED of the company of the shareholders who took on the risk of share ownership when the company turned itself round under Zurrin / Leslie.

This has been on the go all 2023, as we find out today, a complete joke.

They’ll issue the takeover papers / votes in January, I’d have thought? If a counter offer is coming it would need to pre-empt this, surely? That’s been my experience with counter offers, which is limited, granted.

Agreed, the more I think about this, for a paltry £200m / 20p per share you get NLGM, Singida and WK, and a tiny amount of debt that’s got to be worth a Mid-Tier’s time?

If not we will find out in the next 10 business days or so, a counter offer will have to be quick.

Yes, PIs selling out, the volume is still less than 1% today, I’ve just bought more, at the price I got, it’s a guaranteed 6% return in 6 weeks (worst case scenario) and much better if another offer comes in over the top. No brainer.