Serabi Gold Share Discussion Threads

[loganair] 22/1/2020 09:48

The $14.3mln plus Serabi already has in the bank plus this $12mln now gives them a total of $26.3mln minus paying off their Sprott $6.9mln loan and final payment for Coringa $12mln plus interest leave Serabi with approximately $7.4mln minus the interest they owe on the final payment for Coringa.

The loan is at Libor plus 13% Wow! plus an arrangement fee of $300,000 payable to Greenstone.


The Company (Serabi) intends to raise debt funding in conjunction with projected cash flow from Palito to finance the remaining capital requirements for the development of Coringa. Discussions are already underway with a variety of potential financing partners.

[paleje] 22/1/2020 09:21

I'd agree with that PPVN.

Yes we can pull it apart, moan about the interest rate, moan about dilution, ponder why it couldn't have been done better, PI's always do that. But set against the size of the opportunity ahead it is not so bad.

Good luck to Greenstone to get their cake and eat it. We should all do very well from it too imo.

[ppvn] 22/1/2020 08:50

I'm in agreement that on balance this looks OK in my relatively unqualified opinion.

End of the day I guess the end game here is either Serabi start chucking out dividends or get taken over at some point down the line - our interests will be very much aligned with Greenstone at that point.

They also did invest in 2018 at the equivalent of 72p which subsequently went down to the 20's and yet they remained supportive - they have to see a return too and I don't think it's a terrible thing for them to have balanced terms here.

[cotton4] 22/1/2020 08:41

The timing of the GM at the end of February is interesting. A lot can happen before that time. Licencing of Coringa, ore sorter and possible exploration results. I see this as a worst case scenario in the event that nothing positive comes out of the above.

[tiger60] 22/1/2020 08:40

You must wonder about the timing of the Evening Standard article. Placed perfectly for some!

Conversion at eod share price - seen a lot worse to be honest.

Creates a baseline price. As to the fees and costs that is disheartening but not unexpected.

Still a very attractive home for a small % of portfolio with stormy markets ahead. By March the narrative will of changed.

[ppvn] 22/1/2020 08:03

Much as I'm no fan of CBs (particularly when not issued at a premium!), Greenstone have proven themselves to be reliable and committed investors in serabi.

Will be interesting to see what happens here but on balance this looks to be a supportive move from a long term investor. Good news I think?!

[trader365] 21/1/2020 17:39

I suggest 'most' readers of the board are intelligent enough to make their own decisions, filter me and jog on mr policeman.

[borisjohnsonshair] 21/1/2020 17:31

I can vouch for that being very nice

[sherry35] 21/1/2020 16:50

Good idea. I suggest all readers of the SRB blog put "trader365" on filter given his unique interpersonal skills conflicts with ours.

[trader365] 21/1/2020 16:23

Instead of trying to be an ADVFN policeman/referee and telling people what is acceptable to post I suggest you use your filter option, after all that’s what it’s there for

[sherry35] 21/1/2020 15:51

B & T -> Is it possible to take this unique dialogue offline? I personally don't want to listen to bullying, profanity and character assassinations. You both get the "Yellow Card".

[trader365] 21/1/2020 13:09

Im perplexed by someone who declares to be intent on holding both his shares for the next three years with the expectation of hundreds of percent gain, but then continues to scrutinise every slight price movement and post meaningless tedious drivel on a daily basis.

[borisjohnsonshair] 21/1/2020 11:42

Who ordered an idiot?

[trader365] 21/1/2020 10:27

"Must be a seller" There hasn't been any sells today you imbecile

[borisjohnsonshair] 21/1/2020 09:18

A trickle. Enough that would normally make it jump. Must be seller. Ah well. When they are filled we will rise.

[kennyp52] 20/1/2020 22:27

Got to agree Boris . Just feels right for this share price to be coiled for a big bounce up . Fingers crossed . Have enjoyed a return to reasonable value on CEY last few trading days. HUM looks like it’s on it’s way and JLP starting to fly hopefully. Might top up some more on this tomorrow .

[borisjohnsonshair] 20/1/2020 21:26

Wow - thanks. That's exciting. Might attract new retail investors to fight over the tiny stock available. Potentially a huge impact due to lack of liquidity. They may have softened the financing concerns for Coringa by stating it's affordable with existing and 2020 cash flow!

[lessentin] 20/1/2020 19:53

Brief article on srb in today’s evening standard...

[loganair] 20/1/2020 17:30

The price of gold hits another all time high in BRLs and is maintaining above the all important $1,550 level.

$1,550 is important as it was the 19 month long support level after the price of gold peaked in 2011.

[sherry35] 20/1/2020 17:23

TSX ran out of ticker tape this morning due to the YUGE number of SBI trades. It's tickling the under belly of $1.50 CDN resistance level. I'd like to see it punch through this week, with a small retest. At best, TA on SBI.TSX needs to be down using a weekly chart. Again, I stated "at best"


Time ET Ex Price Change Volume Buyer Seller Mkrs
11:42:45 T 1.47 0.02 2,500 1 Anonymous 7 TD Sec K
11:27:34 T 1.47 0.02 82 36 Latimer 7 TD Sec
11:27:34 T 1.47 0.02 300 1 Anonymous 7 TD Sec K
09:32:21 T 1.49 0.04 600 7 TD Sec 1 Anonymous K
09:32:21 T 1.46 0.01 900 7 TD Sec 1 Anonymous KL

[borisjohnsonshair] 20/1/2020 15:20

Trade at 88p in Canada. Odd trading going on.

[tightfist] 20/1/2020 12:33

Looks like 59k IMO Sells just been reported (some delayed) at around 75.8p. They facilitated last week's liquidity - and kept a ceiling on the SP!