Disappointing 1st qtr production of 4,985 ozs of gold, due to delays receiving new equipment from a manufacturer and problems with existing equipment have now been resolved. Management re-iterated their production target for this financial year to be 40k ozs. @ a cost of less than $400 oz, thereby leaving much potential upside to the current 17.75p sp for this �25m cap co. Add in $18m of cash, a forward pe of 4 (house broker) and positive cashflow, it appears to be an attractive addition to a mining portfolio.
2517

I'll copy that as well then, makes no odds to me, strange how a new investor
was willing to stump all that money for a big stake at a big premium 2 days
after this news.

Serabi Mining's SM Ltda hit by suspension notice
StockMarketWire.com
Mining activities at gold explorer Serabi Mining's wholly-owned subsidiary Serabi Mineracao Ltda's Palito mine has been suspended.

The suspension follows a visit from a representative of Brazil's environmental agency IBAMA (Instituto Brasileiro do Meio Ambiente e dos Recursos Naturais Renovaveis), which said the firm had not complied with two of the terms of its operating licence.

The two alleged breaches are that as part of the conditions of the operating licence, SM Ltda had not submitted within the required time-frame, a Cadastro Ambiente Rural (CAR) and a monitoring programme of flora and fauna.

SM Ltda has suspended the limited open pit mining activities of the surface oxides.

The Palito underground mine remains on care and maintenance.

All employees have been retained and planning for the company's exploration programme is unaffected for the time being.

IBAMA has also assessed a fine of Brazilian Reais3,597.300 (approximately $2m) against SM Ltda.

There has been no criticism of Serabi's operational practices and the company has been advised that the penalties imposed are disproportionate to the alleged breaches and the past environmental record of SM Ltda.

The company will this week lodge an appeal with the higher bodies of IBAMA against both judgments and is confident that the suspension notice will be lifted soon and if any fine is ultimately considered due it will be at a significantly lower level, reflecting the circumstances and the nature of the alleged breach of the operating licence.

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The point i was making on another thread is if you wait for news and it's good
you will have to pay quite a premium.

The chances of sorting things out look good so with a large backer in at 3p
and the price 2p i like the risk reward.

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Anything to read into that broker news today mnamreh ?

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No worries :-))

I see the person that bought on Tuesday sold yesterday, you aint gona beat these
market makers trying to day trade these miners without hitting lucky on a good rns, you have to buy when quiet and hold for the next rns and hope it's a good one otherwise you will lose your pot in no time, running out of patience after just one day will just line the mm's pockets, they do have patience :-))

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hmmm people are starting to nibble this but still no news.

But every other small cap miner seems to be going through the roof
so is that the reason for the small speculation in this one ?

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Yeah i am sure, Angm might be struggling with a seller but it's had it's runs
now and again.

One by one these small caps go nuts, Sxx, GGP, Solg, GGG, that's why i'm
patiently waiting for Srb's turn, i dont think these mm's have too much stock
to offer, it's a case of when they decide to push and then the herd will chase,
i can see a nice return when it happens.

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Looks like a major holder has bought another 2.3 million if i'm not
mistaken, those trades have just showed up from yesterday.

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"well done"

Not quite :-))

No profit yet, got my 1.7p stock and had a 1.92p top up today and it's 1.75p
bid online so about break even or slight loss but it's turning.

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It's the only way but Sxx was stuck under 2p for a while and then exploded
to 9p+ giving a market cap of 60 mil +, i can dream the same will happen here
but they dont arf love to chase these small cap miners when they are up
50-100% and it's just 25k max online buy at full 2p offer so they seem to have
dried up on their supplies of stock to offer the punters.

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The strange thing is Her did exactly the same, i read their results when they came
out on last week around 16.20 and thought nothing much in them, the offer was
0.81p and within days it touched 2p.

Can only hope something similar happens here, there is very little stock available,
infact you will be lucky to get more than the 20k NMS guarenteed.