Serabi Gold Share Discussion Threads

[loganair] 26/7/2020 22:12

BTW under UK LSE AIM rules ANYONE has to declare (+/-1% changes?) if they hold over 3% of the equity....not entirely 100% accurate.


If an entity is buying or selling stock in a company over a period of time and over several transactions and crossing several +/-1% during this time and by declaring each time they crossed the +/-1% could have a material effect on the share price then this entity only has to inform the stock exchange about their purchases/sales and only have to publicly declare once they have completed all their transactions.

[tightfist] 26/7/2020 21:14

Hi Sherry,.This is all getting very complex - Greenstone could be reducing or adding (Ie subscribing for CLN conversions) - and there are the AIM rules for declaration vs Canada...... and timescales for declaration too. And PPVN has raised the question about different factions within Greenstone..It's all a bit of a curiosity - but impossible to unravel so let's go with the liquidity flow. .MH and CL seem a pretty safe pair of hands, so my impression is that they will now issue CLN's as fast as possible for a while (latest 31.22.2020) and (combined with organic cash generation) then take a view if they can generate line-of-sight to funding the M&E at Coringa without taking on fresh debt..BTW under UK LSE AIM rules ANYONE has to declare (+/-1% changes?) if they hold over 3% of the equity - the term "insider" seems to attract more attention in North America?.Cheers, tightfist

[sherry35] 26/7/2020 19:56

BJH - Need to determine which jurisdictional rules, Canada vs. UK, for announcing the sale of the shares. Also, how close is Greenstone from becoming a %9.999 holder as more shares are printed under the CLN.

[borisjohnsonshair] 26/7/2020 18:58

Actually they are - my apologies. Not officer or director but they have over 10%

[borisjohnsonshair] 26/7/2020 18:43

Greenstone aren't insiders

[sherry35] 26/7/2020 17:59

tightfist - I was wondering about the same thing i.e. filing a insider trade report. Given the shares sold at the start of the third quarter (July), how long do we have to wait for Greenstone to issue a insider trade report? August or Q4 (October)?

[borisjohnsonshair] 26/7/2020 09:13

Agreed - now debt free they can easily independently meet the Coringa draw down payments. Seems Brazil will be restricted for several months, hence SRB will be settling through monthly payments m, then final cash payment. The question then is can cash flow fund the development of Coringa. Highly possible with the price of gold rising so high.

[golden prospect] 25/7/2020 21:44

Serabi may not draw down any more than $1.5m from Greenstone if payments to Equinox for Coringa remain at $1m per month given "travel restriction condition", since payments easily met by operational free cash per month. Substantial share price rerate beckons.

[ppvn] 25/7/2020 19:16

What if Greenstone Resources (our shareholder) lends shares to Greenstone Resources II L.P. (our CLN holder) when they are selling shares. Upon conversion, Greenstone Resources II L.P. returns shares to Greenstone Resources. No declarations required, no RNSs etc. Just saying.

[borisjohnsonshair] 25/7/2020 16:39

You might be right but they aren't Directors just major share holders. Directors and some key staff (insiders) have to declare the sale of purchase of shares. Major share holders, only when they go through certain levels, 3, 10, 30 ... I guess the split will be revealed in some reports but an RNS isn't required. The switch from shares to CL does increase the retail component. US$1.5M is circa 3% of MCAP or conversion price, hence 16% becomes 19%. Ever little helps with liquidity, especially if they continue to do it. If they do it slowly they can also sell at higher than conversion cost

[ppvn] 25/7/2020 14:07

Spot on tightfist. As I've said, its impossible to know precisely what is happening but from what I think I can tell the OILQ trades should stop (for the moment) after another 250k or so shares. That's before the end of this month, so I reckon we see a significant move up toward the end of next week.

[c0lin1] 25/7/2020 14:02

crux investor interview

[tightfist] 25/7/2020 07:51

In which case an RNS will be required to reveal their reduced holding/voting rights. In the fullness of time (when?) I guess we will see some RNS's - in the meantime let's enjoy the renewed interest and liquidity - and hope it lasts! tightfist

[borisjohnsonshair] 24/7/2020 20:46

Not converted - they are selling their other stock

[redtrend] 24/7/2020 19:14

I'm not sure what you folks are deducing from the CLNs? The CLNs are still CLNs, they have not been converted to equity (shares) which can then be sold.

Surely a RNS would be required if Greenstone had converted any of the CLNs already as it impacts the number of shares in the company.

[loganair] 24/7/2020 17:54

Equity Armor Investment - Even though gold is over bought, due to more debt being taken on and another trillion plus USD aid package coming a long Gold is going to $2,200 to $2,300 in pretty quick time.

[borisjohnsonshair] 24/7/2020 17:32

I think you've nailed it PPVN. Early next week the big pop up will go reflecting the specifics of SRB plus price of gold combo.Good weekend all except TraderSad, who will hopefully die in a ditch after being hit in the head with a bat.

[trader536] 24/7/2020 17:28

BorisJohnsonsHair24 Jul '20 - 12:11 - 6906 of 6912
”Nope, Q1 reduces due to mech failure, Q2 Covid reduction, Q3 ramping up, Q4 hopefully 10,000 plus 2,000 extra ore sorter. I’d imagine Q3 & Q4 could be 20,000“

Did you single-handedly find a cure for the virus? Are you going to vaccinate the whole population of Brazil before Q3 and Q4?

P.S did you see the FRES chart lovely boy?

Have a nice weekend ;-)

[ppvn] 24/7/2020 16:53

Well after today I calculate 1.266m so somewhere in the region of 200k shares remaining.

Tightfist, I'm going by whats currently been released to Greenstone as I'm working on the assumption it is them selling. The report they released confirming they'd subscribed to three tranches of the CLNs was the only one I'd seen, but it would make more sense if they'd received three different shapes of CLNs. Re-reading the doc im a bit unsure as to when they were actually issued - regardless.

At this rate they should be out of shares before any more CLNs are potentially issued so either it is them and we see a rally beyond £1 next week, or it isn't them and I havent a clue whats going on! Watch this space, and roll on next Fri I guess!

[borisjohnsonshair] 24/7/2020 16:08

Odd, agreed. It is a shame to see that money would have been better off elsewhere over the past several months however the management haven't done anything wrong, so more patients needed.

[tiger60] 24/7/2020 16:01

What gold price or news does this need to move above 3 figures? There are explorers with little hope of production for years to come that are rallying. It is a hard one to fathom but based on the update and the gold price it should be topping highs.

Buys still at 84.45

[tightfist] 24/7/2020 13:53

Hi again PPVN,.Thanks for the update. The revised agreement entitles SRB to issue $500k of CLN's EVERY month until YE, on an unspecified date, but the first three tranches were on the last day of each month, so (excepting Forex refinements) there are potentially 500k of new shares to be issued every month - and potentially then sold in the market. If volumes stay up as the last two days this would readily be absorbed - but if we were to drop back to total trading volume of typically 70k it would be a large chunk - at which point Greenstone would presumably sit on their hands?.If Greenstone match closely the shares issues and shares sales we would presumably not see a Holdings RNS? And as it is now H2, the SRB H1 financials are unsighted..BTW I am not too phased by this, but IMO the 76p price was a steal - to then potentially be milking it with instant trading margin seems a bit rich. And as usual the PI doesn't get an opportunity, just dilution...... Of course, we don't know this is what is actually happening!.Cheers, tightfist

[borisjohnsonshair] 24/7/2020 12:12

But upper end of your range

[borisjohnsonshair] 24/7/2020 12:11

Actually so, yes, not nope

[borisjohnsonshair] 24/7/2020 12:11

Nope, Q1 reduces due to mech failure, Q2 Covid reduction, Q3 ramping up, Q4 hopefully 10,000 plus 2,000 extra ore sorter. I'd imagine Q3 & Q4 could be 20,000