Serabi Gold Share Discussion Threads

[tightfist] 30/4/2019 08:03

The wrong Anker AG! Anker Holding AG is also in Switzerland (in Meggen) and has two directors, one of whom is Christopher Kingsman (sounds familiar?). They were the subject of a holding notice on 15th May 2018 coincident with Greenstone coming on-board. Once they hold below 3% IIRC AIM rules require no further public notifications? Thus the overhang thoughts?

[tightfist] 30/4/2019 07:44

Hi Sherry,Your thoughts on a potential financing (ugh!) led me to Google; here is a Moneyhouse SOGC posting from 26th April:"Anker AG , Basel, CHE-276.350.172, c / o Bratschi AG, Basel Branch, Lange Gasse 15, 4052 Basel, Aktiengesellschaft (new registration). Statute date :16.04.2019. Purpose:The purpose of the company is the development, production and sale of connections and accessories for assembly technology, in particular fittings. The Company may engage in all property and real estate transactions, acquire, use and manage intellectual property rights and participate in other companies." It has one director a Robert Sigl.Is this the correct Anker AG?? If so, it looks like changes are underway and the sale is a deck-clearing cash-raising exercise.Maybe I am over-reacting but this share price slump with an imminent PEA is making me thoughtful, especially given the totally inactivity on BoD executive holdings (does the imminent PEA create a closed period?).Cheers, tightfist

[sherry35] 30/4/2019 05:00

Unless there is a financing coming up or Anker wants to exercise some warrants (most likely under water), I suspect Anker is getting tired of their SBI holdings NOT GOING ANY WHERE.

[sherry35] 30/4/2019 04:58

Based on the TR-1: NOTIFICATION filing by Anker Holding AG, Anker sold 825,000 shares when it dropped below 3% on April 25th 2019. If you start subtracting all the trades on the LSE starting with April 25 and going backwards, Anker started selling SBI into the open market on March 20th 2019.

Is Anker still obligated to file TR-1 reports on share dispositions now that its below 3%?

[sherry35] 29/4/2019 17:31

It has been my biggest complaint about the executive team. They have done nothing to promote this stock in the past 5 years. Nor does this stock move with the price of gold. I would not anticipate any press releases on the recent trading activity.

[ppvn] 29/4/2019 17:09

Well said Greg.

To have a couple of hundred grand wipe off £10mm+ of market cap and to do nothing about it would really be terrible imv. I understand what peoples concerns are re. Utilising cash for corporate purposes but at some point serabi must have some regard for their shareholders.

They seem to consider this by their increasing attempts at raising the profile of the company. They have all the ingredients to be vastly less undervalued in terms of assets and production. Its high time they paid a bit more attention to the share price

[tightfist] 29/4/2019 17:08

Totally agree; posts 2005/2006 spell out the uncertainties about funding the process plant & infrastructure at Coringa. I don't believe we currently know how much the refurbishment (augmentation?) of the Anfield plant is going to cost in Capex to become fully-functioning, at least until the PEA is published which is committed within the next 9 weeks."Cash is King" is a truism at SRB right now. Maybe they can raise more cash with further loans, convertibles, etc? Some sizeable BoD Buying would not go amiss either to inspire confidence. IMO I cannot foresee Fratelli or Greenstone accepting an equity fund-raise close to this bombed-out share price unless they are prepared to participate.Cheers, tightfist

[gregpeck7] 29/4/2019 16:32

The problem will come if they try and raise equity at these levels, due to the dreadful share price performance we will be overly diluted and a buy back will help support the share price if ever some chunky director buying was required it is now. One would hope if they do need to raise capital in the future they will not go down the equity pure again. That is the fear here.

[loganair] 29/4/2019 16:21

Would have to be voted on my the share holders at either the AGM.

[sherry35] 29/4/2019 16:18

I'm just wondering about the process for a company to buy back shares. Wouldn't SBI have to publicly announce their intent to buy back shares out of the public market? I personally have not seen a news wire announcing the share buy back activity.

[ironstorm] 29/4/2019 13:38

I have just more than doubled my holding here.

This is my third goldie and one for next year for me. Wouldn't like them to buy-in shares myself. Want them to sort out Coringa payment. I am happy to wait.

Fully loaded now.

(my two others are having great news but just waiting to move on.

[millwallfan] 29/4/2019 11:05

agree Logan. With under 60 mill shares and current position I think cash is king for the company to use to increase production and control and reduce costs of mining to increase margins. No value to anyone in share buyback IMHO. Perhaps when the overhang is complete we will see some stability and hopefully growth. I am new to this share having been on my watch list since last resource update when pricecin 40’s so dipped my toe in first thing this morning.

[loganair] 29/4/2019 10:07

Disagree completely - Small buyback, absolutely no way and a waste of any cash Serabi may have, better use to pay off their debt and or put into Coringa mine which has a good probability of producing 36,000oz to 40,000oz of gold per year with in the next couple of years.

[ppvn] 29/4/2019 10:01

They were selling shares well before Friday. I've been picking up quite a few in recent weeks and the share price has been strange in that timeframe (I.e. where buys have been placed in the spread, availability of stock etc).

Think it's worth serabi examining if a small buyback would be a good use of company funds. We know they have about $15mm cash on hand; if Anker are prepared to sell at 28p that's a better use of company capital than Coringa - so good opportunity for them.

[loganair] 29/4/2019 09:51

200,000 shares bought on Friday with a further 100,000 today. As I posted on Friday it will most probably take until the end of trading on Wednesday for the Anker sell over hang to have been taken out of the market.

[neo26] 29/4/2019 09:48

So we have a overhang.

[loganair] 29/4/2019 09:37

So it seems it most probably was Anker Holding AG who was the seller rather than Garraway.

1.4% of Serabi, 825,000 shares was sold late last week and today announced Anker has gone from 4.3% to below 3.0% which suggests they are now holding 2.9% of Serabi.

It also seems it is the small Private Retail Investor who has been picking up these shares rather than any Institutional Investor or Speculator.

[laptop15] 29/4/2019 09:29

Holding RNS that's CK below 3%

[loganair] 29/4/2019 08:55

So far all Buys today, 80,000 shares, it seems to me that the mopping up operation of the large Sell on Friday is still in full swing.

[tightfist] 28/4/2019 16:57

Hi Loganair, I just hope you are correct and that Garraway (if that who is off-loading) don't know something about SRB we would rather they didn't know.......

[loganair] 28/4/2019 14:56

Holding Serabi at the current share price of around 30p it seems to me will take another 3 days to clear the large Friday sell.

If the EPS turnsout at 15p per share for the year ending 2021, then currently the Private Retail Investor is able to pick up Serabi shares at just 2 x 2021 profits which represents excellent value for the Private Retail Investor.

[loganair] 28/4/2019 14:31

When up and running Coringa is supposed to have an AISC of under $800 per oz.

And also for the year ending 2019, Serabi is forecast to be EPS positive and over 12p per share year ending 2020 and 15p per share year ending 2021.

[bomber13] 28/4/2019 14:10

Coringa came with a 750 tonne per day plant , which is currently being refurbished ahead of the hoped for construction permit . At ore grades of 8 g/t , this means there should be substantial under-utilised capacity at 36000 oz pa of gold production . Mike Hodgson did mention a level of 40000 oz pa output for Coringa in his PDAC presentation at AISC of US$786 , but , even at this level of gold production , unless they truck ore over from Palito / Sao Chico , there would still appear to be room for this to grow to maybe 50000 oz pa without straining the plant ?

We may well be in the grips of a forced seller , but we are still expecting some good near-term news flow any day now - the Q1 financials , the PEA on Coringa , and soil sampling results of the Cinderella prospect at Sao Chico , plus , hopefully , a new blue chip institutional shareholder .

If you have a spare 22 minutes , this might cheer everyone up as well . It is Andrew Maguire's latest diagnosis of gold prices , and , although it is incredibly technical , it concludes that the tea leaves are aligned for a major move upwards -

[tightfist] 28/4/2019 13:47

Hi Loganair,Thanks, the same slide suggests 30-40kpa for five years so no problem there. It finalises to say there is "significant upside to improve the 2017 BFS conclusions and realise Coringa's full potential". Presumably that includes reducing the $27m (presumably post-acquisition) Capex bill.Three years down the road I agree that $27m looks modest ($150 per Coringa Oz over 5 years) but, being realistic, this weekend SRB only have a suppressed MC of $22m.I expect we have all been involved with investments where cash is needed in short-order to realise strategic plans, meanwhile the equity valuation is flat on it's back. I certainly have been and they all had one thing in common - minimal BoD (and particularly executive) skin-in-the-game........ Hopefully MH & CL have a well-endowed rabbit up their sleeves!Cheers, tightfist

[loganair] 28/4/2019 12:33

I recall reading somewhere, when Coringa is fully up and running it can produce 36,000oz of gold per year which makes $27m capex seem like nothing in the scheme of things for Serabi.