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Paragon Entertainment – “Property Disposal” announcement... which is far from just a “Property Disposal” announcement!
John Meyer of SP Angel this morning comments on DiamondCorp (DCP), Goldplat (GDP), Kenmare Resources (KMR), Keras Resources (KRS), Metminco (MNC) and Serabi Gold (SRB) as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond.
Fratelli Investments, the Chilean business dynasty's vehicle which already owns 52% of out-of-favour Serabi Gold (SRB), has stepped in to ameliorate the Brazil-focused gold miner's financial position with $5 million (£3.4 million) 'short-term working capital convertible loan facility'. Serabi, whose shares have sagged in a weak gold market from 2005's AIM float price of 30p to 2.75p now, down from a 12-month high of 5.62p, has been grappling with falling grades at Palito, its producing mine, and slower than hoped progress at its forthcoming Sao Chico project, but chief executive officer Mike Hodgson argues this new facility 'gives the company the ability to complete its current development programme by the early part of the second quarter of 2017.'
John Meyer of SP Angel this morning comments on Serbai Gold (SRB), Stellar Diamonds (STEL), Vast Resources (VAST) and ZincOx Resources (ZOX) as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond.
John Meyer of SP Angel this morning comments on Aquarius Platinum (AQP), Base Resources (BSE), Berkeley Resources (BKY), Leed Resources (LDP) and Serabi Gold (SRB) as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond.
Brazilian miner Serabi Gold (SRB) says it remains confident of nearly doubling overall production this year from the country’s northern Tapajos region to 35,000 oz. of gold, after turning 2014’s first-quarter loss of $1.25 million into pre-tax profits of $191,400 (£121,200) in the three months to March.
John Meyer of SP Angel this morning comments on Aureus Mining, Capital Drilling, Serabi Gold and Peruvian frog smoothies as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond.
Mike Hodgson, chief executive officer of AIM-quoted Serabi Gold (SRB), says the company is on the look-out to snap up new companies and projects as it seeks to lift production from the Tapajos region of northern Brazil from a maiden 18,500 oz. 1ast year to around 35,000 oz. this time, with nearly 45,000 oz. on the cards for 2016. Serabi, which lost a much-reduced $175,000 (£118,000) in 2014 on $12.7 million turnover and has been using up tailings and stockpiled material from its producing Palito mine, hopes to add more than 5,000 oz. this year from its newer high-grade operation at Sao Chico, 23 km. away, and hoist annual output from this second source to more than 20,000 oz.
A near-doubling of high-grade gold production to 35,000 oz., combined with expense pruning to cut costs from more than $1,000 (£660) to between $900and $950 an ounce, is on the agenda for 2015 at AIM-quoted Serabi Gold (SNG), which is developing the Palito and Sao Chico gold projects in the remote Tapajos region of Para State in northern Brazil. Chief executive Mike Hodgson says Serabi, which is more than half-owned by Chile’s powerful Fratelli family, produced a disappointing 18,500 oz. last year from its Palito mine because of processing problems, but intends to lift that to 28,000 oz. in 2015, as well as obtaining first production of ‘6,000 to 7,000 oz.’ from Sao Chico, which is targeted to deliver its first commercial output from the middle of the year.
Mike Hodgson, chief executive officer of Serabi Gold (SRB), says he expects the AIM-quoted company to hoist gold production in northern Brazil’s Tapajos region from a disappointing maiden annual rate of 20,000 oz. to more than 35,000 oz. in the coming year, as its high-grade Sao Chico project starts to swell the quantity of gold now being extracted from its existing operation at Palito. Quoted on AIM and in Toronto and backed by Chile’s billionaire Solari business dynasty, Serabi has obtained a temporary trial mining licence for Sao Chico and must conduct what Hodgson describes as the equivalent of a pre-feasibility study to secure a permanent licence, which he anticipates ‘will be done and dusted by mid-2015.’
A Chilean retailing dynasty is helping AIM-quoted Serabi Gold (SRB) take two gold projects in northern Brazil into production. The target is to mine 24,000oz of gold this year and between 40,000oz and 45,000oz next. The anticipated costs are projected to fall from around the current expected $1,100/oz to nearer $850/oz. With gold trading at about $1,303/oz and looking fairly stable, this could provide investors with an intriguing opportunity to buy into this sector.
Even hedge fund genius Crispin Odey, who knows a thing or two about the financial markets, is happy to admit that one of his trading / investing triggers is the higher low to go long. Could Serabi Gold, therefore, be an attractive target for the multi billion asset manager’s attention?
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