Member Info for Taser

The RNS on Friday will tell us what we need to know

Unfortunately the trades for 67.7ish were buys. False price - probably open nearer 67 tomorrow

The Equinox debt is now paid off in relation to Coringa!

Completed placing of new Ordinary Shares in March 2021 raising gross proceeds of £12.5 million. Funds to be used to Redeem US$2.0 million of convertible loan notes together with accrued fees and interest.Settle balance of acquisition payment for the Coringa Gold Project, which as at the date of the placing was US$3.5 million including accrued interest.Part-fund the construction of the Coringa Gold Project which, when in full production, is expected to increase current group annual production by approximately 100 per cent. to approximately 80 kozpa.Undertake further regional exploration, including up to c. 32,000 metres of drilling on priority targets during 2021 as part of the Company's longer term exploration objective of targeting a mineral resource above 3 million ounces of contained gold in aggregate across all of the Company's projects. Cash holdings at end March 2020 were US$20.5 million following the redemption of the outstanding Convertible Loan Notes held by Greenstone Resources II LP but before settlement of the remainder of the Equinox debt in respect of the acquisition of Coringa which as of 31 March 2021 was approximately US$3.6 million.

Try and reply with reference to the accounts and specify which debt facilities SRB currently have. Once you have done your research you will be able to apologise for your posts.

As to dilution the Coringa project will be financed with a debt facility. There will be no further dilution . This funding will allow SRB to double production. Hopefully from Qtr1 2023.

You’re trying to make the facts fit your agenda but are unable to support what you write.

WHat CLN are you referring to? What debt do you think SRB have on their books? The greenstone financing was closed out. Be specific.

Bushy, of all the things to try and run down SRB and you question cash flow! The one thing they have consistently achieved is free cash flow - paying down debt of over $1m a month and still reporting a surplus.

Have you looked at their cash flow statement or any of their financial updates? There are far easier areas to snipe about but you missed the mark and have zero credibility.

For example Qtr 3:
Cash flow generation has again been strong with cash flow from operations of US$5.75 million and after accounting for capital expenditures, the net operational cash flow of US$3.74 million, slightly lower than was reported for the second quarter but reflecting an increased level of expenditure on improvements to the mining fleet

Must admit I don’t like the look of the closing UT trade on Friday giving a ‘false rise’. Hopefully this is not a pattern - will watch Monday/Tuesday close versus intra day trades carefully

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

The valuation is a reflection of years of missing their forward statements and failure to realise the potential many believe the tenements hold. Now the bold step has been made to raise funds via a 'cheap' equity funding to firm up resources and exploit the potential via exploration - at a cost of $5m. Whilst maintaining production and extending lifetime of mine (which for all deep narrow vein mining operations is traditionally short).

A recent accident at the mining site, accounting issues, assay aggregation errors and drop in production levels have help to perpetuate a feeling that this company lurches from one mistake to another. However, this year has the potential to change the perception and maybe the last chance for the current management.

The initial expo results have done nothing to dispel many peoples believe that the tenements hold vast resources - with company expectations of firming up 3m. With that the extra development work should lead to enough RoM to reintroduce the recently purchased ore sorter and thus push production levels passed guidance levels of 33,000-36,000. Additionally, it looks like Coringa will now actually get started in July which has been some time coming, although the final license is still outstanding (and a risk).

The problem with the audit is that many are stating it is only 80,000 what is the issue. Well it is twofold firstly it shows that the checks and balances are not in place or working and secondly, we can't be sure that the 80,00 is the end of the matter. Accountants will be trawling through historic accounts as well. All of which does reputation damage. It was only because we are listed on the canadian exchange which requires accounts 3 months after year end that this was in the public domain. AIM requires accounts 6 months after year end so now as each day passes the risk of no accounts being produced weighs on the share price. The sooner the better.

Anyway with gold going higher today and the resisitance at 1800 broken this looks to have the ability to shoot up if the mgmt can regain credibility with the next set of data, then the next etc.

https://www.brrmedia.co.uk/broadcasts/6026567c13605530a66076ac/serabi-gold-palito-near-mine-exploration-success/

This will answer your questions. And the added bonus, if you listen to it all, is that January production is good and ahead of the curve. Great addition news not yet feeding through to the market.

https://www.serabigold.com/investor-centre/corporate-presentations-technical-reports/

How on earth did this lose all its gains from a superb RNS on Friday on a day with no news, gold steady and low volumes? Some days it is hard to take.

Firstly, generally across the board there has been a diversion of funds away from gold to equities with the announcement of a vaccine. In my opinion this is a knee jerk reaction and although gold may trade in a narrow range for the next month extra stimulus and recognition of the massive sovereign debt will lead to a rethink. Add in the inevitable inflation - the Fed has already stated it will loosen its 2% target - then gold will rally and push up producers with it.

Secondly, unfortunately at company level there have been some set backs. Low production for Qtr3 circe 7,200 and slightly higher levels predicted for Qtr4 and Qtr 1 2021 are predicted before regaining lost ground caused by Covid. On the flip side the gold price has been a saviour and with the cessation of exploration and ancillary works the cashflow and cash balance has rarely looked better. Qtr 4 will take a hit with only one scheduled bullion sale in the qtr (Qtr 1 2021 will see 2), the annual bonus payment to staff and resumption of exploration.

However, if you believe gold will remain at $1900 plus (and I am expecting $2,000 plus early in the new year) then this is cheap on many valuation methods but they need to firm up resources. If the current exploration can turn up some good grades over a fair distance and any sign of open pit mining being feasible then we are off and back over £1 and beyond. Buy and wait

Sum up short term sentiment on gold and factored in the need for 6 month development work in order to get back to where we were. This is priced in and in a few weeks I truly believe we will be back in an upward trend. Good Luck

It is funny people quoting the gross profit figure for 2018 without qualifying going forward this will be dramatically marked down in 2019 due to the largest contributor (mms) pulling out. But let’s not let that stand in the way of ramping this...

I am here. I think we saw bottom. It is clarity on the PNL that is needed.

Use to have these in their heyday many years ago and still follow the goings on here out of curiosity.

I just can't fathom the thought process behind the latest move - genius or utter stupidity. I am ring towards the latter. Where exactly is the money coming from? At a point where they should be considering this company as a shell until Mank can be sold they are actually trying to develop a resource in Africa without any funds and no guarantees the company has a future past the end of the summer let alone long enough to benefit from their new sideline.

Again, out of curiosity, did the BAG members have wind of this? If not then surely this undermines the whole relationship because this new direction is going to result in one thing only - a rather large cash call and based on the mkt cap it would probably mean at least a 100% dilution to carry the new project forward over the time period needed.

Maybe there is something I am missing but like I said it seems an odd way forward...(NB got a lot of respect for the set of BAG and the way it has progressed..many investors grumble few have the ternacity to see it through. However, It looks like they have gone behind your back from looking on. Is that the case?). Good luck

Hi, I am a relatively new investor in MTFB but not to investing in equities. Have a genuine question to long term holders.

i was originally drawn to this share, probably like many other new investors by the spate of coverage this has had from the Times shares to follow to investor sites/literature. On the surface it all sounds amazingly well positioned with literally days to go until the FDA decision at which point most of the uncertainty is removed (I understand partnership deals are needed and there may also be a need for further funding). What bothers me is reconciling current price to the expectations of holders here.

Whilst I read quotes of CoS of 95% etc or words such as a near certainty and then look at the MktCap I have some nagging doubts as the market is seldom wrong in weighing up the risks. I understand that ones own expectations are separate from the overall markets and spotting contradictions between share price and short term potential is the main aim of any investor but it seems a tad to good to believe if you get my drift.

Obviously, in my case I have made the decision to jump in at just below mid 30s but with only about 12 trading days to D-day the market is not biting. Strange considering the confidence levels displayed by the company, press and those here. Still believe but weighed with healthy dose of wariness.

Time will tell the story but the money is made making your mind up after the initial chapters. Anyway good luck all

It was the same notice but withdrawn from publication only to be posted in the Gazette weeks later. They tried to offset the sum against a holding credit they had with HMRC. HMRC didn't agree with this creative accounting and subsequently resurrected the claim. There is no official word on payment or not. With the 1.5m short term borrowing to cover immediate negative cash flow the Nov/decmgnt accounts are of huge significance. They had Nov numbers at a mgmt meeting on 21st Dec but not divulged. There should be a directors loan to see us through - they owe us that much. How much is a house in Notting Hill worth?

Mercedes