Serabi Gold Share Discussion Threads

[loganair] 21/7/2019 15:01

I doubt it very much...

[gregpeck7] 21/7/2019 14:17

Will gold spike tonight in Asia with all the Iran shenanigans?!

[loganair] 21/7/2019 12:57

South Koreans are even worse...

[sherry35] 20/7/2019 16:55

tightfist - Thank you for the clarification. It should be operational by now, or very soon.

[ppvn] 20/7/2019 10:23

Hi tightfist,

Ah! Great news. Sneaky serabi just getting on with it quietly!

[tightfist] 20/7/2019 08:29

Hi, the Ore Sorter was actually arrived on-site at the time of the AGM. Apparently it's a containerised solution and civils were just underway......

[ppvn] 20/7/2019 07:26

Don't forget the arrival of the ore sorter to site...

It was in country a few months ago so I'm personally hoping it's now cleared customs and made it's way to Palito. 3 months to get set up and dialled in, then starts to impact q4 perhaps?

[tightfist] 20/7/2019 07:16

Yes, hopefully at least two welcome updates in the next 11 days - there may be Coringa resources in addition?

[lessentin] 19/7/2019 21:46

We should be due the q2 Operational Review next week so hopefully we’ll get a good update on production and Coringa PEA

[sherry35] 19/7/2019 20:49

They could borrow from Chinese or Indian banks for a better rate. They don't need to go to a EU or NA financial institutions. Sprott loan was during a different global economic situation - Au and miners were out of favour. With Au heading north as we enter a globla recession and 100K production by 4Q2020, SRB will be in a much better position to shop around for a loan.

[gregpeck7] 19/7/2019 16:27

Agree and up 11 percent on tsx...

[ironstorm] 19/7/2019 14:59

I am with you tightfist.

And with firming gold price we should be a more attractive borrower and also be able to borrow at keener rates.

De-risking nicely here.

[ppvn] 19/7/2019 14:12

Hi tightfist,

Sage words as ever. Easy to be an armchair critic!

[tightfist] 19/7/2019 13:53

At the AGM there was a generally mildly positive sentiment towards Sprott so I take my lead from there. They obviously read their Sprott PoG tea leaves whilst negotiating the $1,320 option, but at the end of the day it's just 15% of this year's production guidance.Going forward I am far more inclined towards funding that is non-dilutive and can be worked off with no lasting damage. I am also keen that SRB spread the funding around to keep folk on their toes!

[ppvn] 19/7/2019 12:19

Sprott still have 6500 oz @ $1320 from serabi, that's no small premium in my humble! That and the fact that when they (I strongly suspect) sold their shares when they were granted @ c.50p just really left a bad taste in my mouth.

I'm all for a friendly face, but not one that's got Serabi bent over a barrel whilst grinning happily away!

I suppose at the end of the day though that Mike and Clive imo did a good job with the placement last year. River & Mercantile in particular seem a committed investor and so I'm sure our BOD will get the best deal they can. I just don't particularly like Sprott and their endless gold ramping whilst being a gold seller and wonga type financier.

[tightfist] 19/7/2019 12:10

SRB are slowly coming-of-age, the negotiating boots will soon be on the other foot so the outcome could be different. Having a friendly-face (Sprott) within the industry may be worth paying a modest premium, as a contingency?

[ppvn] 19/7/2019 11:42

I sincerely hope not!

Being a much more reliable producer now and with the final Sprott payment to be made in June 2020 I'd really hope they could access bank debt.

Whilst the 10% interest isn't too crazy (albeit high) it's the arrangement fees and derivative costs that rile me when Sprott are involved.

[tightfist] 19/7/2019 11:11

The speculation around the post-PEA funding involvement of Sprott and possibly Anfield/Equinox may well be on-target?

[cf456] 19/7/2019 09:37

"#SRB Balance sheet NAV is just over £55m/93p vs current 60p."

[loganair] 19/7/2019 09:28

If SRB sell their gold at an average price of $1,300 for the first half of the year and $1,400 for the second half will given them a revenue of $54mln for the year up from $43mln last year, much of which will go straight down to the bottom line as profit.

[gregpeck7] 18/7/2019 23:18

Omg gold over 1450!

[backinblack80] 18/7/2019 22:26

Gold producers in play tomorrow? Hope so!

[ppvn] 18/7/2019 20:43

Understand why some people trade the goldies but disagree with it personally in this environment.

In 2021 at 100k oz and at or around $900 aisc, if gold is around $1700 that's $80m p.a. Obviously need to discount salaries, exploration costs etc but on a market cap today of £35m who'd bother trading them. Only my opinion.

[cf456] 18/7/2019 20:27

"#Gold continues to blitz higher. Highest levels since May 2013. Gold producers in play again tomorrow"