reports
- David Seers
Serabi Gold (SRB LN) - Q4 production update - BUY
Today, Serabi released its Q4 production update for the Palito and Coringa gold mines in Brazil for the period ending 31 December. The results are highly encouraging, demonstrating growing production, delivery in line with forecasts, and a strengthening cash position. Further production growth is also forecast for the year ahead.
- David Seers
Serabi Gold (SRB LN) - Growing from strength to strength - BUY
Serabi recently provided its production update for the third-quarter of FY25 in which it reported record quarterly gold production of 12,090 ounces, with its cash balance increasing by $8.4m to $38.8m (net $33.8m). This strong operational performance and recent further improvements in the gold price, prompts us to revisit our valuation, which we now see at 386p per share (was 282p per share).
- David Seers
Serabi Gold (SRB LN) - Revised valuation - BUY
Serabi recently provided its half-yearly operational report for the six months ending June 2025 (RNS 28.8.25), which we have used to refine our financial assumptions and fair value. We maintain our Buy rating with a marginal reduction in fair value from 294p to 282.1p.
- David Seers
- Hybridan Team
- Jon Levinson
Hybridan Small Cap Feast: 31/07/2025
Our daily digest of news from UK Small Caps 31st July 2025 @HybridanLLP * A corporate client of Hybridan LLP. ** Potential means Intention to Float (ITF) or similar announcement has been made. ***Arranged by type of listing and date of announcement. ****Alphabetically arranged and Closing Price on prior day to Publication. Dish of the day Admissions: None Delistings: None What’s baking in the oven? Potential** Initial Public...
- David Seers
- Robin Byde
Serabi Gold (SRB LN) - Revised valuation - BUY
Serabi reported a positive operations update yesterday reaffirming its FY25 production target for up to 47koz of gold and a strengthening cash position, closing the second quarter with net cash of $24.6m. Tailwinds remain favourable; the gold price has averaged over $3,000/oz in 2025 and currently trades at over $3,300/oz and there is little sign of an early trend reversal in our opinion. Today we reiterate our BUY recommendation and upgrade our fair value to 294p per share (from 216p).
- David Seers
Serabi Gold: 1 director
A director at Serabi Gold bought 45,000 shares at 169p and the significance rating of the trade was 56/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showin...
- David Seers
Serabi Gold (SRB LN) - Q1 operational update - BUY
Yesterday Serabi provided its unaudited operational update for the period ending 31 March 2025 (Q1 2025). Gold production is growing in line with forecasts and margins are enhanced by the strong gold price and a reduction in costs on a $/oz basis. Post-period (RNS’ 22.4.2025 & 23.4.2025) Serabi has simplified its shareholder base and no longer has two principal shareholders with Greenstone Resources sold out and Fratelli Investments down to 10% and no longer on the board. This was achieved via a...
- David Seers
Serabi Gold (SRB LN) - Q1 Production update - BUY
Serabi today provides an operation update for the first quarter of FY 2025 from its Palito mine and mill and the satellite Coringa mine in Brazil. The operations continue to deliver with gold production up, and a strengthening cash position. The company is assessing its options to return capital to its shareholders which we believe the market will view positively. We continue to see 216p fair value in Serabi.
- David Seers
Serabi Gold - (SRB LN) - Restating our case - BUY
Amidst the general market malaise Serabi’s share price, like that of many others, has suffered in recent weeks (and days!). We initiated on Serabi in February (Serabi Gold - Initiation: Growing on solid foundations) with a buy rating when shares were trading at 168p, they have since fallen around 27% to 123p. Here we reiterate the case for Serabi Gold, our mining conviction pick for 2025.
- David Seers
Audio Note: Serabi Gold - Initiation: Growing on solid foundations
In this audio note, Zeus’ David Seers summarises the investment case for Serabi Gold. Serabi is our Zeus conviction buy stock for the mining sector in 2025. It is an established gold miner with two long-life assets in the Tapajós region of Brazil: with underground mines at Coringa and Palito feeding into the Palito mill.
- David Seers
Serabi Gold (SRB LN) - Initiation: Growing on solid foundations - BUY
Serabi is our Zeus conviction buy stock for the mining sector in 2025. It is an established gold miner with two long-life assets in the Tapajós region of Brazil: with underground mines at Coringa and Palito feeding into the Palito mill. Gold production in 2024 was 37.5koz, a 13% increase on the previous year, and sights are set on delivering a 60koz/yr capacity as soon as 2026 (within existing operations and for minimal capital cost), and there is the potential to produce at 100koz/yr, although ...
- Andy Hanson
- Bob Liao
- Brendan Long
- Carl Smith
- Daniel Slater
- David Seers
- John Cummins
- Rachel Birkett
- Robin Byde
- Robin Savage
Audio Note: Zeus Top Picks for 2025
Welcome to Zeus’ Top Picks 2025. Every year since 2021 Zeus analysts have selected their highest conviction UK SMID cap stocks over a one-year investment horizon. In 2024 Zeus analysts selected nine stocks across various sectors, focusing predominantly on the UK AIM market. These stocks provided an average total return of 16.3%, beating the AIM All Share benchmark by 18.7ppts*.
- Andy Hanson
- Bob Liao
- Brendan Long
- Carl Smith
- Daniel Slater
- David Seers
- John Cummins
- Rachel Birkett
- Robin Byde
- Robin Savage
Zeus Top Picks for 2025
Welcome to Zeus’ Top Picks 2025. Every year since 2021 Zeus analysts have selected their highest conviction UK SMID cap stocks over a one-year investment horizon. In 2024 Zeus analysts selected nine stocks across various sectors, focusing predominantly on the UK AIM market. These stocks provided an average total return of 16.3%, beating the AIM All Share benchmark by 18.7ppts*.
Hybridan Small Cap Feast - 28 November 2024
* A corporate client of Hybridan LLP ** Potential means Intention to Float (ITF) has been announced, or it is a rumour ***Arranged by type of listing and date of announcement ****Alphabetically arranged Share prices and market capitalisations taken from the current price on the day of publication Dish of the day Admissions: None Delistings: None What’s baking in the oven? Transferring markets: 8 November: Zentra Group plc (ZNT.L)* will delist from the Equity Transition Segment of the Main Market...
- Emily Liu
Hybridan Small Cap Feast 29-04-2024
Dish of the day Admissions: Atalaya Mining (ATYM.L) has moved from AIM to the premium segment of the Main Market. Delistings: Molecular Energies (MEN.L) has left AIM. What’s baking in the oven? ** Potential**** Initial Public Offerings: Reverse Takeovers: 16 April 2024: Electric Guitar (ELEG.L) Concurrent with its Admission to trading on AIM, Electric Guitar is proposing to acquire the entire issued share capital of 3radical Limited for a consideration of approximately £1.3m, payable by the issu...
- Emily Liu
Hybridan Small Cap Feast 19-10-2023
19th October 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment obje...
Hybridan Small Cap Feast - 09 May 23
9th May 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objective...
Hybridan Small Cap Feast - 19 Apr 23
19 April 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objectiv...
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