Serabi Gold Share Discussion Threads

[loganair] 28/4/2019 12:33

I recall reading somewhere, when Coringa is fully up and running it can produce 36,000oz of gold per year which makes $27m capex seem like nothing in the scheme of things for Serabi.

[tightfist] 28/4/2019 09:53

Hi PPVN,In the weekend calm after last week's goings-on..... I remain curious about SRB projected cashflow until 100kpa is achieved..Reviewing the PDAC March presentation, on page 10 it notes that in the 2017 Anfield BFS an estimated ~$27m Capex was required for Coringa. Do we have any info anywhere on how much of this was possibly already spent on plant by Anfield and already acquired by SRB, as opposed to fresh spend required and to be quantified in the anticipated Q2 PEA?.Thanks, tightfist

[ppvn] 27/4/2019 15:23

Absolutely ridiculous at this level. If they get to 100k oz in 2021 and that is entirely feasible, it should be in the couple of pounds mark.

Just slightly annoyed I've been buying much higher than the price today!

[laptop15] 27/4/2019 12:48

https://simplywall.st/stocks/gb/materials/aim-srb/serabi-gold-shares/news/top-undervalued-stocks-this-week-10/An article from last year, just goes to show you how undervalued this little miner is compared to its peers

[loganair] 27/4/2019 12:45

Gold (measured in dollar terms) has had a rough couple of weeks. That’s what a combined dose of “risk-on”; psychology plus a stronger dollar will do to gold.

[gotabsirius] 26/4/2019 21:28

That's not how these institutions work. That would spook the market if people presumed they had over 3% left. The biggest offload is normally the last one in my experience

[loganair] 26/4/2019 21:10

If it is Garraway selling, then just another 2,125,000 shares to go.

[gotabsirius] 26/4/2019 20:01

I'd imagine CF had been offloading for quite some time given the share price movement over past few months....

[tightfist] 26/4/2019 19:50

Hi,But.... there are slightly less than 200,000 buys (recorded by ADVFN) today so who is left holding 75% of the baby!? Or are there more delayed trades yet to come..... Or are they traded on another exchange?Not to mention the other 3.5% still with Gallaway (assuming that's where the 825k Sell came from).Cheers, tightfist

[loganair] 26/4/2019 19:20

Near end of day Sell 825,000 shares for £231,000.

Hopefully what has happened is that no book maker was willing to buy such a large amount at 38p, so the price had to be brought down to 28p to sell such a large amount of shares in such an illiquid stock.

If this is the case, then its been good for the Retial Private Investor has let them buy shares at such a low price.

[tightfist] 26/4/2019 19:19

Possibly yes, but there may be more where that came from.......

[laptop15] 26/4/2019 18:56

Chart looks good for a bounce too

[laptop15] 26/4/2019 18:55

https://twitter.com/laptop1515/status/1121738528491225088?s=19

[laptop15] 26/4/2019 17:50

Should get a rally in share price next week guys now that big filled sell order has gone through, around 1.5% of all shares in issue

[gotabsirius] 26/4/2019 17:47

Note the delayed print!!!

[tightfist] 26/4/2019 15:51

But isn't there a let-out in that the seller should be deemed "finished" before any declaration is required?? (IIRC the AIM rules and the LSE rules differ).IMO the company needs ALL the cash it has for Coringa and plant investments right now. Would be interesting if they have a mandate for share buy-back passed at the last AGM?Meanwhile I think Greenstone are up against the 30% ceiling that, if surpassed, requires a mandatory bid unless they get specific permission.Cheers, tightfist

[cotton4] 26/4/2019 15:30

Or the company could buy back the shares.

[loganair] 26/4/2019 15:28

At 5.02%, Garraway would only have to reduce their holding by .0021% to trigger an RNS as reduced passed 5.00%.

[tightfist] 26/4/2019 15:18

Thanks. SRB's broker needs to get those shares placed in secure hands - quickly; IMHO they have already tried and failed.IMO 5.02% would take many months to shift in the Open Market, not sure about the rules for partial sales disclosures along the way. Maybe the share price needs to be further suppressed to get them away Off-Market?Maybe I am being gloomy but this is not looking good to me; equity fundraising's would now be so dilutive. I believe we are of the collective view that SRB have/generate just sufficient cash for the final $12m Coringa payment, but beyond that what do they need to reach 100kpa? One solution that comes to mind is a go-slow to deliver it organically and limit dilution..... the other is do a further loan deal with Sprott. June AGM attendance anyone?Cheers, tightfist

[loganair] 26/4/2019 14:51

Garraway went from an unnotifiable holding to 5.02% on 26th March with City Financial going from 5.0% to an unnotifiable holding on the 25th March.

It seems to me that there are not many Serabi shares being sold on the open market, more buys then sells at the moment. Until today, I was having great difficulty in picking up Serabi shares.

[tightfist] 26/4/2019 14:37

Hi loganair,Quote from Googling City Financial, dated 25th March:".....City Financial began offloading its funds in mid-March, transferring its flailing absolute return fund and a multi-asset range with £250m worth of assets between them to boutique manager Garraway...."So, (without going back through AR's and holdings) my guess is that Garraway have on their books considerable ex-CF SRB stock that they want to offload? IMO 5% sounds like a massive overhang on a very illiquid stock..... Hard Hats anyone? tightfist

[loganair] 26/4/2019 13:52

Unless there is something happening that the Retail Private Investor is unaware of then I can see of no good reason for the 25% drop in the share price from 40p to 30p.

[laptop15] 26/4/2019 13:39

The broker target increase is interesting too, 140p now

[loganair] 26/4/2019 12:12

Just for information Serabi major shareholders:

Fratelli Investments........32.8%
Greenstone Resource.........25.3%
River & Mercantile..........09.7%
Garraway Capital Management.05.0%
Anker Holding AG............04.3%
Drake PIPE Fund.............03.9%
Eldorado Gold Corporation...02.9%
Directors(excluding Fratelli)2.1%

Total of 86%

[loganair] 26/4/2019 12:07

Serabi may do a Trans Siberian Gold that fell from 55p to around 30p, then suddenly whoosh, very quickly rose to above 55p.