Serabi Gold Share Discussion Threads

[tiger60] 24/3/2020 10:42

Spot gold breaching 1600 again. Risk versus reward. Would love to be a fly on the wall at the mining site.

[borisjohnsonshair] 23/3/2020 15:21

Total rubbish

[w1sefool] 23/3/2020 14:18

STOP PRESS – SWISS GOLD REFINERS CEASE PRODUCTION
The Swiss Canton of Ticino, in the Italian part of Switzerland, has just ordered the gold refiners based there to close, initially to March 29th but this is expected to be extended. Three of the world’s largest refiners – Argor, Valcambi and PAMP are based in Ticino. More later in this article.

[w1sefool] 23/3/2020 14:17

Swiss gold refiners, which produce 70% of the world’s gold, have just been ordered to halt production!

[loganair] 23/3/2020 13:07

The Fed has just declared 'Fiat' money worthless when they said that they have an 'Infinity' amount of money they can put into the markets = Fiat money is worthless.

Any number divided by infinity the answer is ZERO.

All Central Banks have an Infinity amount of money.

The only money that is left that still has worth is gold as there is a Finite amount of gold in the ground with the amount of gold above ground only increases by around 1 1/2% per year.

[borisjohnsonshair] 23/3/2020 12:34

My comment was assuming a 4 week shut down. I agree 13 weeks different ball park. I'm unconcerned if that period. It will be a Govt directive only. The virus will only give the miners minor symptoms, based on our current understand or states.

[tiger60] 23/3/2020 11:08

You are wrong to dismiss it as 'no biggy'. Losing a quarters (?) worth of production, trying to raise monies around qtr4 with less cashflow is a biggie but if that is what gets you through go for it.

[tightfist] 23/3/2020 10:32

The key to sustaining production should be to protect the processing plant (the funnel neck)..It seems the upstream mining is less critical - and in any case ore is sourced from the two current mines that are naturally "distanced"! tightfist

[borisjohnsonshair] 23/3/2020 08:38

This will rocket

[borisjohnsonshair] 23/3/2020 08:32

If mines close around the world, as the Corona spreads it'll be a month for each country, Canada and Australia included. The output drop will be covered by an increase in POG due to a supply issue. This is likely to coincide with an increased demand. When markets or the virus calm, they'll be a massive move to gold.

[backinblack80] 22/3/2020 23:01

tightfist, not difficult to minimise risks in this type of operation. Lot less risky than going to my local shop or Tesco atm. But company should clarify the situation...

[tightfist] 22/3/2020 20:47

OK, but eventually how do you let the brakes off? And let the miners out - Human rights come to mind, and the pay premium?
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IIRC by Brazilian mining employment law they have to have a lot of time off.....
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So many questions, so few answers....

[sherry35] 22/3/2020 20:30

The best possible place for the miners is to stay in the camps and shutdown all entry into the camps except for food and medical. Anybody leaving the camp for other matters should be denied entry back into the camp. In other words, enact a quarantine policy.

The remote location maybe their savings grace for the miners if they have enough food and water.

[trader365] 22/3/2020 15:55

GFM operating in China closed their mine on 29th January, production was resumed on 24th February.

HOC have closed both their mine in Peru for an expected 15 days, and also their mine in Argentina for an expected 11 days.

[tightfist] 22/3/2020 15:02

In the back on my mind I have a figure of ~420 people - Annual Report should state.
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I haven’t got the sense that anyone regularly visits from UK apart from MH (from Cornwall?). And flights are presumably minimal?
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IMO a bigger risk is South American’s to and fro? I believe they employ some Bolivians?
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Anyway I doubt if many are over age 50 miners, let alone 70+. But I guess we could foresee a 5 weeks/~10% drop in guidance?? And striking any deals is going to get protracted/tougher? tightfist

[borisjohnsonshair] 22/3/2020 10:25

Maybe they'll shut the mine. Brazil is very big. Maybe it'll not get out of the main cities. What manpower resource do they employ? It's a hell of a journey from anywhere. Most dangerous people would be from HQ in London.

[saint in exile] 20/3/2020 11:28

Intriguing

[borisjohnsonshair] 20/3/2020 11:20

No market. Will reopen at 100p

[cotton4] 20/3/2020 10:10

Anyone know whats happening?

[borisjohnsonshair] 20/3/2020 09:36

Massive gap up. This morning it's was possible to buy it half price 60p