Serabi Gold Share Discussion Threads

[rajaster] 12/8/2015 09:51

On a side note, golds starting to fly again now, if we could see $1300 tested again, we are overdue a bear rally, unless we break out and start to move higher when every least expects it.

[rajaster] 12/8/2015 09:49

couldnt browse the article above but here it is again for anyone interested:



It looks really positive, although I don't like debt based growth, growth through acquisitions should be done with surplus cash, but if the opportunity's merit for the company it could mean exciting times are ahead but as long its not punitive to existing holders the way the sao chico deal was in regards to the issue of shares.

[cotton4] 11/8/2015 09:57

We should expect the financials on Friday, 14th August, as per previous years.
Buywell3 . Are you referring to me?

[buywell3] 10/8/2015 15:55

I can't believe certain posters put money into the likes of this

[sleveen] 07/8/2015 14:28

Capital raised in an issue of shares that exceeds the nominal value of the shares. The share premium account is recorded on the company's balance sheet and cannot be returned to shareholders as dividends.

SRB can only pay a dividend when a profit (and thus generate cash) is made thru' operations.

[rajaster] 07/8/2015 09:12

hxxp://www.readyratios.com/reference/accounting/share_premium.html

[spiker4] 06/8/2015 19:04

Can anyone work out how is this $82m calculated?

[spiker4] 06/8/2015 18:43

Sleeven, surely the fact that they say they have $82m in reserves will be reflected in the balance sheet.

[cotton4] 06/8/2015 15:57

Looks like Real is in meltdown. Now 3.55

[sleveen] 06/8/2015 15:26

No it's not real cash. It's all the accumulated losses written off. So if there ever is enough cash generated to pay a dividend then SRB can without having first to pay off the SPA.

ie it DOES NOT mean they have $82m cash on the balance sheet to pay dividends.

IMHO.

[rajaster] 06/8/2015 15:05

cotton the main difference arrives from aisc 9-950 vs cash costs of $600-$750..difference of $150-$300 but gold is very likely going to drop < $900 as the market hasn't seen capitulation which is the final sign of the end of the bear market.
Now in terms of this share premium release.. what am I missing, is that a realisable asset and is the money available to pay down the debts?

[cotton4] 06/8/2015 13:32

By the way, I will hold my hand and say so if I am wrong and that wont be the first time. There is no ramp intended here. DYOR.

[cotton4] 06/8/2015 13:29

Why capoot?, if their cash costs are $599 per their 15th May update. They are also looking to process higher grade from Sao Chico in the second half of the year. Have a listen to what the CFO says in one of the latest webcasts on the Serabi website.

[rajaster] 06/8/2015 13:23

their selling gold in dollars.. so in effect it helps even more with real being down as cash costs in real will remain similar. the capex must be including the opex and wages, i wonder if management have given themselves a sneaky bonus.. if gold hits <$900 which is a very significant probability its capoot.

[cotton4] 06/8/2015 13:19

More than 30% since Dec 2014.2.65 to 3.51. Excluding inflation a 30% drop in wages, at least. That's why I was surprised at their latest guidance of $900-950 being re-iterated when their actauls for the first quarter was much less. If anything the Real has moved in their favour over the second quarter and then again for the start of the third quarter.

[rajaster] 06/8/2015 11:43

ouch that is more than 25% drop in the real.

[cotton4] 05/8/2015 14:48

Real continues to weaken. Now 3.49

[rajaster] 03/8/2015 12:26

hxxp://www.vaneck.com/global/blogs/gold-special-market-update-july-28-2015/

[rajaster] 03/8/2015 11:04

at this point mikes not really answered the questions. he's failed to answer them in the last rns, except for reiterating the costs. we will have to wait for the annual financials.

[loganair] 02/8/2015 09:26

Cotton - There is also 'Sentiment' which is at rock bottom when it comes to Brazilian companies and investing in Brazil as Brazil has been run into the ground by the previous Government.

[cotton4] 02/8/2015 09:12

If you look at the cash flow statement at March, we spent a net $3.9. $2m was the loan repayment, $1.9 of stock increase and $1.7 in property and equipment.

[loganair] 02/8/2015 09:10

Fuel is supposed to account for between 50% and 60% of a miners costs. Depending how Serabi are charged for their fuel in the Brazilian real or US dollars.

For the past two weeks the spot price for gold has maintained between $1,090 and $1,100 per t/ounce.