Serabi Gold Share Discussion Threads

[borisjohnsonshair] 09/4/2020 11:52

Average price in Q4 was US$1,475. It's circa US$1,700 now! If 9,000 ounces that alone is an extra US$2,000,000. More than covers 3 months stage payments to Equinox for the drawn down Coringa final payment. We'll eat our way through that US$12M over the coming months.

[borisjohnsonshair] 09/4/2020 11:48

When's that expected.

[mick1909] 09/4/2020 11:39

I think the share price will consolidate around this level and get another boost when q1 RNS is released this month

[borisjohnsonshair] 09/4/2020 10:47

For sure. This is a great investment as it just mines gold and demand for gold will remain very strong. Many other businesses are going to struggle and be volatile for years. Rock solid here.

[mick1909] 09/4/2020 10:30

Coronoviris is weighing the true price of certain stocks

[borisjohnsonshair] 09/4/2020 09:46

That's giving zero for Coringa (50% paid up) and future exploration success, which is pretty secure and potentially MASSIVE, albeit some time and huge expense away - partner needed. All things considered 150p fair at this stage.

[mick1909] 09/4/2020 09:32

This company is on course to be a 12-14$ million profit yearly at 40,000oz which equates £10.5mil so and a pe of puts this at 55 mcap approx 92p a share

[tightfist] 09/4/2020 08:57

Hi Kenny,.Even at AISC costs they are currently generating around $2.2m per month. Of course there will ultimately be some 2020 CV impact due to health/roster disruption, consumables shortages, etc..Obviously they have understandably put the brakes hard on discretionary capex and exploration drilling. My instinct is that I would now NOT be in any hurry to crank it back up, instead let the cash build and the proposed new indebtedness reduce? My guess would be to then push new developments back 12 months and de-risk..But IMO we are in good pairs of hands with MH and CL..Cheers tightfistPS: It's a volatile world and PoG but I will be disappointed if we don't see north of 100p this year NIAI

[cotton4] 09/4/2020 08:39

Should get 1st qtr results next week. Higher POG and currency favourable.

[tightfist] 09/4/2020 08:29

Lots of info to absorb this morning! The Coringa funding solution looks interesting, but I guess not totally copper-bottomed. As is the workforce CV protection and ongoing gold production, even as part of an Essential Industry. One wonders with the delays (cash conservation) and the current PoG, what level of new debt will suffice in Q4?.Most intriguing is keeping on top of the (current,y suspended) exploration drilling progress at Palito, SC and its environs. IMO the longer term SC expansion speculation is very interesting, as the size of the prize is showing some promise? .Surprised it did not flyaway even quicker this morning. Maybe the Chairman's caution about Financial Statements in the AR are damping things down a little?.Good luck all! tightfist

[ironstorm] 09/4/2020 07:46

The results highlight what a great year last as and the potential for this year is.

PoG effect yet to come in will I reckon more that offset the downtime of the ball mill. Plus lower costs of fuel should help and further Real devaluation.

Agreement with Greenstone and Equinox looks pragmatic. One wonders if we tried to get a different repayment profile from Equinox they might have accepted. Without the dilution. As cash for building Corning’s is unlikely to be needed pro tem.

Seems to be not an option. Price should rise strongly today.

[tiger60] 09/4/2020 07:42

I expect a blue day
Negatives qtr4 pnl below 1m when qtr3 1.1m even with higher gold price
Agreement with greenstone still outstanding
Coringa go live date pushed back, chairman’s statement ‘unavoidable delays’ reaching 100,000 target

But this should rise today - prod ongoing only exploration stopped.

[borisjohnsonshair] 09/4/2020 07:27

Happy happy happy. Thank you management, major investors and Equinox!

[ppvn] 09/4/2020 07:07

Seems a decent outcome to me. Bit premature perhaps, I've been sneaking a few more of these whilst the price has been low!

[sherry35] 08/4/2020 19:25

tightfist - I'm hoping a deal between Greenstone/Beaty/Equinox and SRB can be worked out. SRB can't afford to go to court against deep pockets Greenstone. The Coringa is past the exploration phase. It has a lot of the pieces in place to produce Au - it needs the cash to close the deal.

Do you recall the current status on the drilling and assays for the SC area?

[tiger60] 08/4/2020 11:37

Must be very frustrating situation as a holder. I am not holding but waiting for the right moment and I am frustrated by the lack of news. Once the details are finalised and there is a clear picture SRB will move appropriately.

Absolutely love the position gold is in. The amount of money being printed around the world adding to an already saturated position can only make gold the place to be (along with a few Puts after the mini rally).

Bought ETFs but the multiples are in the producers. But the blocker is knowing which will and won't be impacted by the virus. One thing is for sure production around the world will be down - supply down - demand up = Mortgage payment! That and thinking that this must all result in inflation finally, makes me increase my positions

[tightfist] 08/4/2020 10:43

Interesting comment in this morning's papers:."A special committee of WeWork board members, including Bruce Dunlevie of Benchmark Capital and Coach chairman Lew Frankfort, on Tuesday issued a legal challenge to SoftBank's decision to pull a $3bn tender offer. The committee's lawsuit against SoftBank and the Saudi Arabia-backed Vision Fund was filed in a Delaware court and is expected to be the first of several legal disputes over the Japanese group's decision to pull out of the earlier agreed share buyout".We are still blind-sided to the CLN conditions that were said to not be fulfilled at SRB.........

[borisjohnsonshair] 08/4/2020 09:25

Or keep it - nice PEA and US$12M down payment. That said I don't think they want to develop it. Maybe they could retain half as only half paid for!!!

[tiger60] 08/4/2020 09:06

Well surely Equinox have the upper hand despite forward payments SRB have failed to meet their final payment based on contractual stipulations. It is that detail and consequences that is the black box. Waiting for clarity. Is there anything stopping equinox selling to a new bidder?

[tightfist] 08/4/2020 08:31

A good point, maybe a mining licence award would be sufficient to push Greenstone over the line?However how slow/paralysed has Para state decision-making become....... .Or do you foresee that the 22nd Jan CLN deal is now dead?

[borisjohnsonshair] 08/4/2020 07:27

I guess they'll do 2-6 weeks shut down like every other country in sequence. What's happened with the license approval? The decision wouldn't be delayed just because SRB hasn't coughed up the money to buy it.

[loganair] 07/4/2020 22:32

Brazil - Confirmed: 13,717 - Deaths: 667