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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Serabi Gold Plc | LSE:SRB | London | Ordinary Share | GB00BG5NDX91 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-1.50 | -2.27% | 64.50 | 63.00 | 66.00 | 65.00 | 64.50 | 65.00 | 64,410 | 09:09:07 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Gold Ores | 58.71M | -983k | -0.0130 | -49.62 | 48.85M |
Date | Subject | Author | Discuss |
---|---|---|---|
20/1/2016 18:08 | hxxp://news.goldseek | rame4 | |
07/1/2016 11:28 | 06th Jan - Serabi (LON:SRB) up 9% to 3p. The Brazil-focused goldminer has made an initial US$2mln draw down of its short term loan facility of US$5mln that has been provided by Fratelli Investments. | loganair | |
06/1/2016 19:46 | Id be happier seeing this at 12p+.. But would need gold at 1400+ to get that rerating. | rajaster | |
06/1/2016 15:30 | and another, next stop 5p | rogen83 | |
06/1/2016 15:22 | another nice buy just come through...pos.delaye ooops a bigger sell,gone in,but the markets absorbed it well enough.. | abergele | |
06/1/2016 15:20 | Gold ticks up 1095today | rajaster | |
06/1/2016 14:18 | Is 3.6o thr ceiling now?.. All depends on thr market price of gold and how it all progresses..but chinese jitters are increasing.. So thats good for gold. The real has further weakened also. | rajaster | |
04/1/2016 20:44 | Here is new brr Media interview with Clive Line, talking about the new Fratelli Loan facility, and the ongoing short-term Sprott facility too; overall, he does sound quite cautious about the SRB cash situation. The very brief foretaste of the Q4 figures at the end sounds reasonably encouraging for the latter part of the quarter.. hxxp://brrmedia.co.u There have been no comments here about the conversion premium of 30% from the current 2.75p to 3.6p within the Fratelli loan arrangement. Cheers, tightfist | tightfist | |
31/12/2015 09:47 | Full RNS: For immediate release 31 December 2015 Serabi Gold Plc ("Serabi" or the "Company") US$5 million convertible loan facility Serabi Gold plc (AIM:SRB, TSX:SBI), the Brazilian focused gold mining and development company, announces that Fratelli Investments Limited ("Fratelli Investments"), the Company's major shareholder, has agreed to provide an interim unsecured short term working capital convertible loan facility of US$5 million (equivalent to approximately UK£3.3 million) (the "Loan") to the Company to provide additional working capital facilities. Mike Hodgson, CEO said: "Serabi is a high grade gold producer, targeting to achieve lower than average All-in Sustaining Costs per ounce, and this is critical, faced as we are, with the recent weakness in the gold price. As with all gold producers, we are facing strong economic headwinds, all at a time whilst the Company has continuing commitments for increasing throughput through the process plant as well as development expenditure to bring the Sao Chico Mine into full production. This has restricted the Company's ability to build up its cash reserves. To ensure we can remain on track with our expansion and development plans, this convertible loan facility, kindly provided to us by our major shareholder gives the Company the ability to complete its current development programmes by the early part of the second quarter of 2016 and thus achieve optimal gold production rates as quickly as possible. We do not anticipate that it will be necessary to draw down the full extent of the convertible loan facility". The Loan is for a period expiring on 31 January 2017 and for a maximum of US$5 million. The facility may be drawn-down in up to three separate instalments of an initial US$2 million and two further installments of US$1.5 million each. The Loan is available to be used at any time up to 30 June 2016. Interest is chargeable at the rate of 12% per annum. There is no prepayment penalty or arrangement fee. The Loan is unsecured and subordinated to the Company's existing loan facilities, including the secured loan facility arrangement provided by the Sprott Resource Lending Partnership (the outstanding balance of which amounted to US$4 million as at 22 December 2015). The first US$2 million of the Loan is convertible at the election of Fratelli Investments into new Serabi Ordinary Shares at an exercise price of 3.6 pence per new Serabi Ordinary Share at any time. The remaining amount of the Loan, if drawdown, may be repaid by the Company at its option at any time on or before 30 June 2016. Thereafter, Fratelli Investments will have the right to convert all or part of the remaining amount of the Loan into new Serabi Ordinary Shares at an exercise price of 3.6 pence per new Serabi Ordinary Share at any time. Based on an exchange rate of £1:US$1.50 up to 92,592,593 new Serabi Ordinary Shares may be issued on conversion of the Loan by Fratelli Investments. Fratelli Investments is currently interested in 343,613,166 Serabi Ordinary Shares representing 52.35 per cent. of Serabi's current issued share capital and accordingly, Fratelli Investments is able to increase its aggregate shareholding in the Company without incurring any obligation under Rule 9 to make a general offer to the Company's other Shareholders. | rajaster | |
31/12/2015 09:45 | There is no prepayment penalty or arrangement fee. The Loan is unsecured and subordinated to the Company's existing loan facilities, including the secured loan facility arrangement provided by the Sprott Resource Lending Partnership (the outstanding balance of which amounted to US$4 million as at 22 December 2015). | rajaster | |
31/12/2015 09:07 | Raj Where does it say Sprott loan down to 4m? | snape | |
31/12/2015 09:02 | that was an excellent rns.. interests abit steep but getting funding is very difficult these days.. avoiding the likes of yorkville etc. sprott loan down to $4 million to which is great. | rajaster | |
31/12/2015 08:20 | Nailed it, there's the further funding needed. | sleveen | |
23/12/2015 11:17 | The share price is looking very very weak now. usually when supports broken its not long before you see new lows, perpendicular support trend line. just bs as i've seen this coming for a while.. just inaction as the underlying business fundamentals have been much better than most other AIM miners. As they say trend is your friend. no santa rallys yet.. unless you see the short squeezes or pump and dump as rallys. | rajaster | |
23/12/2015 09:59 | Boffster, I guess the large fall last Friday was Stops getting taken out? Possibly delayed reaction to FY guidance being reduced from 35,000 to 33,000 Oz, which implies Q4 production will be slightly down on Q3. In the 13th November report Hodgson said "In addition to funding the upgrade programme, operational cash flow is being used to pay down the short term debt facility with Sprott. With the timing of the debt retirement and the increase in production capacity expected early in the second quarter of 2016......" so he appears confident that timing with Sprott is not an issue. If there were short term difficulties I expect he could call on Fratelli, rather than pursue a dilutive placing. Allowing for a Q4 wobble, operating free cash flow from Palito of maybe ~$4.5pa (shortly to be augmented by Sao Chico commercial production and the 3rd Ball Mill) is IMHO not to be sniffed at from a company with a Mkt Cap of $27m. Cheers, tightfist | tightfist | |
22/12/2015 01:15 | Possible I suppose but I doubt it. I don't think repaying the sprott loan will be an issue. This was supposed to be paid back with additional revenue arising from stockpiled ore. I wouldn't foresee a problem with getting an extension if one were necessary. SRB seems to have some quality assets. | boffster | |
21/12/2015 15:45 | Or ... a placing on the way? | bsg | |
21/12/2015 15:19 | It doesn't make sense. Serabi seems well managed and consistently meets or exceeds expectations. General bad sentiment in the sector? | boffster | |
21/12/2015 14:46 | ffs.. more drip.. more than 50% down now. just another goldie thats down. | rajaster | |
18/12/2015 15:28 | Placing leaked ? | sleveen | |
13/11/2015 16:46 | kiwi,golds more likely to $900 than the other way as things look | rajaster | |
13/11/2015 12:40 | with SRB being so adept at paying off the loan, i'm sure SPROTT would listen to an extension on slightly higher terms for re-payment. everyone gets a good deal then. ideally Gold $2000 then everyones laughing....patience | kiwimonk | |
13/11/2015 12:17 | Today's Hodgson interview, SC features after 3 mins: | tightfist |
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