Share Name Share Symbol Market Type Share ISIN Share Description
Serabi Gold Plc LSE:SRB London Ordinary Share GB00BG5NDX91 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  1.00 1.2% 84.00 28,388 14:50:00
Bid Price Offer Price High Price Low Price Open Price
82.00 86.00 84.00 83.00 83.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 45.20 2.89 4.91 15.9 50
Last Trade Time Trade Type Trade Size Trade Price Currency
15:31:56 O 4,569 87.00 GBX

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Serabi Gold Daily Update: Serabi Gold Plc is listed in the Mining sector of the London Stock Exchange with ticker SRB. The last closing price for Serabi Gold was 83p.
Serabi Gold Plc has a 4 week average price of 80.50p and a 12 week average price of 43p.
The 1 year high share price is 96p while the 1 year low share price is currently 28.50p.
There are currently 58,959,551 shares in issue and the average daily traded volume is 50,616 shares. The market capitalisation of Serabi Gold Plc is £49,526,022.84.
trader365: Boris where do you see the SRB share price when/if this one trick pony loses 100% of its income? 60p? 50p? 40p? "The accelerating death rate in Brazil is the most concerning of all emerging-market nations, Deutsche Bank analysts told clients in a note on Wednesday" Https://
trader365: Boris my friend, how will SRB share price fair if the dreaded production halt RNS lands?? I've reduced my exposure to miners due to increased Covid-19 risk. Myself and other readers are mere mortals and wold appreciate answers to the questions posted on the thread. Can you provide readers with the answers?
bomber13: Great news yesterday that Equinox has been amenable to allowing stage payments of the final US$12m due on Coringa . However , I suspect the share price would have moved a lot higher than it did had we also received Greenstone's similar acquiescence to stage payments of the Convertible , and confirmation that the conversion terms remain at 76p per share . The original Convertible deal with Greenstone was made public on 22nd January this year when gold was US$1555 , or R6500 in local Brazilian currency . The two respective levels as of today are US$1690 and R8636 , a massive 33% improvement in local currency terms . Day to day operations at Serabi have yet to be affected by Coronavirus restrictions , and , because of their remoteness and measures already put in place by the management , they may still escape needing a temporary shutdown . Given the above factors , Equinox's amenability , and recent confirmation that the ore sorter is working excellently , it would seem highly unlikely that Greenstone would turn round , and ask for a reduction in the conversion price . After all , they already own 25% of Serabi at 72p per share , and the phrase " cutting one's nose to spite one's face " springs to mind . We are due final Q1 production stats next week , and despite the ball mill issue in February , we have been told to expect a production level of just over 9000 oz , comparing with 10223 oz in Q4 2019 . However , because the average gold price in Q1 was around US$1580 versus US$1475 in Q4 2019 , and the Brazilian currency fell 30% from 1st January to 31st March from R4.01 to R5.21 , Serabi's financial results should have been well and truly insulated . We are still due the Coringa environmental permit any day now , providing no central government delays , we are still due final results from the step-out drilling at Sao Chico , and we are still due initial exploration results 2km to the West of Sao Chico , so there is still much to look forward to . Over to you Greenstone - don't mess us around , agree to stage payments and no change to the conversion price on the Convertible , and the share price hopefully goes back towards 100p .
sherry35: So, has SRB started shopping around for other investors as a contingency? Given SRB's track record of not delivering projects on time, is this activity underway? So, Ross Beaty is back stopping Equniox with a standby loan. "Further to the Equinox Gold news releases dated August 2, 2018 and December 30, 2019, the standby loan arrangement between Equinox Gold and its Chairman, Ross Beaty, has been amended and restated to extend the term from March 31, 2020 to June 30, 2020." Lets assume this cash is burning a hole in Ross Beaty's pocket. Would it be better to loan the money to Equinox or invest the money in SRB thus allowing SRB to make the $12M US payment to Equinox for Coringa? On an aside. In Canada, I believe the strike price on equity financing is based on 10 trading day average of the share price . It maybe 15 days. In any case, a financing at 80 CDN cents will not materialize for at least 10 trading days or 2 weeks.
bomber13: After Thursday’s clinical announcement of delayed full year results , delayed completion of the $12m convertible fund-raising , a delay to the final $12m payment for the Coringa mine , reduced production guidance for Q1 , suspension of 2020 production guidance of 45/- to 46/- oz , and the potential for a coronavirus effect on operations , it is good to hear some reassuring words from Serabi’s CEO in the BRR Media podcast . We have a good chance of making up Q1’s production shortfall in Q2 , we have the mine camp already in voluntary quarantine from the virus , we have the ore sorter working “ terrifically well “ , and we have the CEO’s confidence that over 40/- oz of production is still doable in 2020 . We are also assured that Greenstone have not got cold feet and still wish to complete the convertible fundraising in Q2 , and we are hopeful that Equinox will grant a further extension on the $12m final payment for Coringa , which is due next Tuesday . Moreover , the Sprott loan , Serabi’s only debt , will be less than US$4m by end March and will be repaid completely by end June from cash flow . It is indeed a relief to hear that Greenstone still wish to complete the $12m convertible after a short delay to see how the coronavirus effect plays out in Brazil in the weeks ahead . After all , they are Serabi’s second largest shareholder with 25.3% of the equity , bought at 72p in March , 2018 , they have a seat on the board , and their website mantra declares a longterm partnership approach to their mining investments . However , it is notable that in the podcast Mike Hodgson stopped short of saying they would complete the convertible on the same conversion terms , which , as we all know , were to be struck at a conversion price of 76p per share within 16 months from date of issue . As we also know to our cost , the Serabi share price closed the week at 46.5p . Back in January when news of the convertible was made public , I recall Serabi’s CEO informally stating in an interview that the options open to Serabi at that time were this convertible loan from Greenstone with minimal dilution or a deep discounted rights issue at around 50p . Should Greenstone therefore try to reduce the terms of the convertible using the coronavirus as a reason , and to a level that no longer carried the support of the Serabi board , then an equity issue cannot be ruled out . Whilst we can all do without this eleventh hour uncertainty , if the timescales given at the time of Coringa’s public hearing on 10th February have not slipped , we are hopefully due the grant of Coringa’s initial permit within the next fortnight . Since agreeing to buy Coringa from Equinox in November , 2017 for US$22m when gold prices were US$1275 , Serabi have increased the Coringa resource from 376/-oz to 541/-oz , and its targeted gold production from 32/-oz pa to 38/-oz pa , such that the IRR at a gold price of US$1450 and AISC of US$852 per oz is a whopping 46% . Bearing in mind that gold is now above US$1600 , and that , in any event , there was a 20% contingency in those AISC together with no ore sorter benefits taken into account , these are hopefully very conservative assumptions . Indeed , with Serabi's market cap now back to only US$33m , might Coringa plus permit not be be worth more than that on its own ? Which is why , if there was to be an equity issue after the 34% fall in the Serabi share price in the last week , there should be no shortage of takers .
sherry35: SBI.TSX is down 28 CDN cents on a whopping 700 shares. YUGE volume. NOT! You've all seen the Level II snip-its from the past three trading days. Doesn't take much to move (manipulate) this stock. At this SP, I'm looking for the insider or olde boys club trades with huge volume. As for SRB, today's volume is .23% of the outstanding share count. All indications is the stock is easily manipulated given the float is YUGELY lean. Someone care to post Level II for SRB? How much of today's SRB volume is attributed to the bots? Lastly, it's taken over 5 trading days to finally slam SRB/SBI.The a'holes are making the rounds. Why the latency (delay) in reference to the other Au miners? My suspicions is the rich are frantically unloading their positions, due to the abrupt right angle turn in the global economy, and moving to gold and gold miners. The problem is with some of the juniors is the lean float - if they have the Au in the ground and revenue. Taking the share price down induces panic in the PM sector thus shaking the trees of loose shares.
loganair: Very good interview, 36 mins long - main points: 1. Ore sorter for Low Grade Ore - Palito: - Full benefits from January 2020. - Saves $1mln in production costs per year. - Liberates 20% in the plant so able to put through more high grade ore which means an increase from 40,000oz to 50,000oz of gold mined. Almost all this extra revenue goes straight to the bottom line as profit. 2. Currently forecasting to make around $4.5mln profit for 2019. (Did not mention what price of gold for this forecast.) Coringa: 1. $25mln to bring in to production which includes a 20% contingency. 2. AISC $800 to $850 per oz which will bring down the total ASIC for all gold mined to $900 to $950 per oz. 3. Already have the cash in the bank to make the final payment on the purchase of Coringa. 4. Will bring Coringa into production with debt. Once Coringa in full production base case SRB mining 80,000oz per year and up to 100,000oz Not looking for any further M&A until Coringa is fully up and running. When looking for any M&A looking at Open Pit for scale and to bring costs down. 85% of SRBs expenditure are in local Brazilian BRLs. The two companies that dumped their SRB stock causing the share price to fall to 23p was an absolute blessing as was good for the liquidity of SRB stock as was pick up by retail investors going from 9% to now owning 17% of SRB while the other 83% is owned by long term institutional share holders. Lots more steam left in the SRB share price.
morethanme: I think that the reason for the share price lies in the timing of the forced seller. By bringing down the share price to the lows of 24p during May, just before gold sharply rose to the $1500s, the 3 fold increase in share price of Serabi looks like a response to the gold price increase. When in effect it was merely a correction in price after the forced seller's shares were cleared. This is the reason I chose to invest in Serabi at a price of 70p after it had nearly increased nearly 300% from 24p levels and looked overbought. In effect it has yet to participate in the gold miners rally on the increased gold price. If you look at the value of the company when gold was $1280 /Oz (excluding any value from: Coringa, exploration and the ore sorter): Serabi producing 40,000 Oz/year - Assuming: AISC of $1100 /Oz - Profit of $180 /Oz Annual profit of 40,000 * $180 = $7.2m (£5.9m) With a P/E of 8 gives a market cap of $57.6m (£47.1m) With 61.6m shares, a share price of £0.76 So right now Serabi is valued as a producer of 40,000 Oz at gold price: $1280, with no value given to the increased $1500 gold price, Coringa, the ore sorter, or future exploration. I plan to sit on this share for however long it takes to see the market revalue Serabi accordingly.
loganair: It seems to me one of the main reasons why the SRB share price isn't much higher is because they consistently over promise on their production and the lowering of their AISC.
loganair: When the SRB share price dropped from the mid 40ps to the mid 20ps was very easy to buy as many as one wished compared to before the drop.
Serabi Gold share price data is direct from the London Stock Exchange
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