Serabi Gold Share Discussion Threads

[tightfist] 01/5/2019 13:55

Hi Sherry,PPVN has already given some insight. I am no expert but IIRC AIM rules are that holders over 3% have to disclose when they go above whole number %'s (eg R&M) and similarly below (eg Garraway). They (Anker) are now off the radar screen at below 3%, meaning that Anker can now potentially overhang the market for a long time...... Someone will have a plan not let that happen? Sometimes you see sales volumes to fall just below round-numbers so it seems further sales are obscured.I think holders have 3 days to make a declaration, but you seem to see lots of reasons for exceptions, but not at SRB.After months of inactivity I am curious why Anker and Garraway have both simultaneously decided to reduce their holdings. In contrast, R&M have just shown their willingness to stump-up a small amount of cash. My GUESS is that a modest placing is being speculated in conjunction with the Q2 PEA publication, but WTFDIK. Greenstone reportedly hold 25.27%, unless they get dispensation from the 30% bid rule a placing equally shared pro-rata between Greenstone, Fratelli and R&M would be limited to +18% each or +12% ($3m at the current sp) overall across the entire issued equity.We'll see how things actually play-out! tightfist

[ironstorm] 01/5/2019 13:19

Yes and notwithstanding the Coringa payt cash should be very healthy vs Mcap

[ironstorm] 01/5/2019 12:07

My average is about 47p with the last buy about 29p.Now fully-weighted in my portfolio (tho I do break my rules sometimes - but would need to be super special).

But as i say looking for this to motor next year, with recovery to the 40-45p at least this year. With a fair wind 55p+.

But I just sit and wait for now.

[ppvn] 01/5/2019 11:01

GM Ironstorm,

Yes, not the easiest thing to sit and wait, particularly in an illiquid name with active sellers filing sell orders!

On the plus side I was able to buy as many as I wanted with no issues whatsoever, and i shall now wait.

Once the bigger boys are finished it'll dry up again I'm sure, and then hopefully have some nice jumps to a fairer value. That's my plan anyway.

[ironstorm] 01/5/2019 10:54

Hear, hear, bargain territory - problem is just how long they stay here. Next year I reckon this will well ahead.

Sitting and waiting is the hardest thing.

[ppvn] 01/5/2019 10:32

Hi Sherry,

R&M first bought shares in the 3.6p placement (72p in new money) last April. They bought just under 10% of the company and filed a holdings report at the time - you can find old regulatory releases at investegate.co.uk if you ever need to check. Just search under serabi gold (srb in the uk). Yesterday they filed an increase to just over 10% so they are picking up some of Ankers shares, or perhaps some of Garraways as they now seem to be reducing too (they filed an RNS this morning). Filings actually are linked at the top of this thread - those are the regulatory releases just under the graphs.

Picked up a few more here. May be a bit premature but at £16m market cap I think they are a bargain.

[sherry35] 01/5/2019 01:29

Wouldn't R$&M have to file a insider report given they own more than 3% of the O/S? When would this happen? Please note I'm a CDN trader with limited exposure to the UK/LSE investment market and regulations. Any education would be appreciated.

[tightfist] 30/4/2019 19:22

I guess R&M (a London fund manager who had a 9.7% SRB holding before today) bought about 450,000 shares (0.7%) off-market direct from Anker Holding AG? Good on R&M, they should IMO be well rewarded in due course. It's reassuring to know that an ii is active in the background.Cheers, tightfist

[loganair] 30/4/2019 18:56

Over 1.1m shares sold in large chunks of 200k plus, delayed from yesterday, so it seems Anker has still selling down. Another 1.97% sold means Anker have another 1% to go until they are completely out.

[sherry35] 30/4/2019 18:47

Who is "River & Mercantile"?

[laptop15] 30/4/2019 16:37

Yes with a buyer hooving up all the cheap shares we might see a rise soon enough :))

[ppvn] 30/4/2019 14:56

I guess River & Mercantile bought quite a few of Ankers shares. Glad to see it seems to be just a disposal by Anker.

Maybe they will buy more; it's less than half the price of their previous purchases.

[tightfist] 30/4/2019 10:31

Hi Loganair,Agreed, BUT IMHO the up-front costs of Coringa will be put on the balance sheet not in the P&L (it will not be in Commercial Production) and short-term funding seems uncertain, at least to me.Hope I am proven wrong, but SRB/SBI has become a game of patience! tightfist

[loganair] 30/4/2019 09:37

It does not make any sense to me, anyone selling at these prices especially as the forecast eps for the year ending 2021 is a little over 15p as by then Serabi will hopefully be mining 60,000oz or more of gold per year.

[tightfist] 30/4/2019 08:03

The wrong Anker AG! Anker Holding AG is also in Switzerland (in Meggen) and has two directors, one of whom is Christopher Kingsman (sounds familiar?). They were the subject of a holding notice on 15th May 2018 coincident with Greenstone coming on-board. Once they hold below 3% IIRC AIM rules require no further public notifications? Thus the overhang thoughts?

[tightfist] 30/4/2019 07:44

Hi Sherry,Your thoughts on a potential financing (ugh!) led me to Google; here is a Moneyhouse SOGC posting from 26th April:"Anker AG , Basel, CHE-276.350.172, c / o Bratschi AG, Basel Branch, Lange Gasse 15, 4052 Basel, Aktiengesellschaft (new registration). Statute date :16.04.2019. Purpose:The purpose of the company is the development, production and sale of connections and accessories for assembly technology, in particular fittings. The Company may engage in all property and real estate transactions, acquire, use and manage intellectual property rights and participate in other companies." It has one director a Robert Sigl.Is this the correct Anker AG?? If so, it looks like changes are underway and the sale is a deck-clearing cash-raising exercise.Maybe I am over-reacting but this share price slump with an imminent PEA is making me thoughtful, especially given the totally inactivity on BoD executive holdings (does the imminent PEA create a closed period?).Cheers, tightfist

[sherry35] 30/4/2019 05:00

Unless there is a financing coming up or Anker wants to exercise some warrants (most likely under water), I suspect Anker is getting tired of their SBI holdings NOT GOING ANY WHERE.

[sherry35] 30/4/2019 04:58

Based on the TR-1: NOTIFICATION filing by Anker Holding AG, Anker sold 825,000 shares when it dropped below 3% on April 25th 2019. If you start subtracting all the trades on the LSE starting with April 25 and going backwards, Anker started selling SBI into the open market on March 20th 2019.

Is Anker still obligated to file TR-1 reports on share dispositions now that its below 3%?

[sherry35] 29/4/2019 17:31

It has been my biggest complaint about the executive team. They have done nothing to promote this stock in the past 5 years. Nor does this stock move with the price of gold. I would not anticipate any press releases on the recent trading activity.

[ppvn] 29/4/2019 17:09

Well said Greg.

To have a couple of hundred grand wipe off £10mm+ of market cap and to do nothing about it would really be terrible imv. I understand what peoples concerns are re. Utilising cash for corporate purposes but at some point serabi must have some regard for their shareholders.

They seem to consider this by their increasing attempts at raising the profile of the company. They have all the ingredients to be vastly less undervalued in terms of assets and production. Its high time they paid a bit more attention to the share price

[tightfist] 29/4/2019 17:08

Totally agree; posts 2005/2006 spell out the uncertainties about funding the process plant & infrastructure at Coringa. I don't believe we currently know how much the refurbishment (augmentation?) of the Anfield plant is going to cost in Capex to become fully-functioning, at least until the PEA is published which is committed within the next 9 weeks."Cash is King" is a truism at SRB right now. Maybe they can raise more cash with further loans, convertibles, etc? Some sizeable BoD Buying would not go amiss either to inspire confidence. IMO I cannot foresee Fratelli or Greenstone accepting an equity fund-raise close to this bombed-out share price unless they are prepared to participate.Cheers, tightfist

[gregpeck7] 29/4/2019 16:32

The problem will come if they try and raise equity at these levels, due to the dreadful share price performance we will be overly diluted and a buy back will help support the share price if ever some chunky director buying was required it is now. One would hope if they do need to raise capital in the future they will not go down the equity pure again. That is the fear here.

[loganair] 29/4/2019 16:21

Would have to be voted on my the share holders at either the AGM.

[sherry35] 29/4/2019 16:18

I'm just wondering about the process for a company to buy back shares. Wouldn't SBI have to publicly announce their intent to buy back shares out of the public market? I personally have not seen a news wire announcing the share buy back activity.