Serabi Gold Share Discussion Threads

[borisjohnsonshair] 26/3/2020 08:26

Bargain. Loads on the market at the moment. Shopping time.

[kennyp52] 26/3/2020 08:22

Lol .. tightfist “perfect storm” reference 😅

[tightfist] 26/3/2020 08:20

Reassuring that the OS performance is sufficiently good that they judged that they could recover the P2 loss of production and maintain FY guidance...This really is a "Perfect Storm" for SRB - but it looks as though some LTH are grasping the Buying opportunity.

[borisjohnsonshair] 26/3/2020 08:15

Broken plant fixed and ore sorter working so still pumping gold and making money.

[kennyp52] 26/3/2020 08:11

The Company is projecting to have cash holdings of approximately US$8.5 million at the end of March after payment of the next installment of the loan repayment to Sprott.

[tightfist] 26/3/2020 08:03

Agreed, mega-patience now required! One wonders about how this may play-out - Rock and a Hard Spot come to mind. Will Anfield extend the extension - IIRC the interest rate was pretty juicy.....

[borisjohnsonshair] 26/3/2020 08:00

Wow - sign of the times but doesn't change the ultimate future.

[tightfist] 26/3/2020 07:57

Instead of a web cast we have a pretty comprehensive RNS, lots to digest. I had not anticipated that the Loan Notes would not yet be issued to Greenstone and the corresponding Anfield final consideration not paid - yuk!.Meanwhile they are still intending to reduce cash holdings through maintaining the Sprott loan agreement..(The delay of results and) CV info makes a lot of sense and had been foreseen here but not the $12m funding issue..Let's see what the market makes of it all, tightfist

[sherry35] 25/3/2020 20:41

Maybe its time for MH to make a Web Cast video from his home office.

[sherry35] 25/3/2020 20:11

Nice close for SBI.TSX today. I wish my MND.TSX was back at $1.20

[morethanme] 25/3/2020 13:42

Trying to follow the price of gold is getting difficult with such huge variation between the bullion dealers, future contracts and spot price.

Very difficult to find physical in stock online and if you can, the premium above spot is very high.

[borisjohnsonshair] 25/3/2020 13:38

I think they swapped it all for toilet paper

[cotton4] 25/3/2020 13:29

The Royal Mint are out of stock of the smaller bullion bars. Have a look.

[w1sefool] 25/3/2020 12:46

STOP PRESS
PRESSURE IN PHYSICAL GOLD MARKET & END OF PAPER MARKET IN GOLD AND SILVER
The Swiss refiners in the Canton of Ticino closing due to CV is having a major effect on the availability of gold. We must remember that 70% of all gold bars in the world are produced in Switzerland and that the 3 biggest refiners are in Ticino where the local government has ordered non-essential factories to close.
Since last Friday when the Swiss refiners closed, gold is up $100 and demand is major and frantic. Bid – offer spreads have increased substantially and premiums on gold and silver are very high. Gold in bigger quantities is now very difficult to obtain but not impossible. There is a major silver shortage and virtually impossible to find. Smaller quantities of silver fetch a 100% markup on spot.
With very little physical available and demand substantial, there is soon likely to be pressure on the paper market. Investors who have bought gold and silver futures will be concerned of the contracts being honoured and ask for delivery.
What we are seeing now is probably the beginning of the end of the gold and silver paper market.

hxxps://goldswitzerland.com/swiss-gold-refiners-cease-production-end-of-paper-market/

[loganair] 25/3/2020 11:55

Dominic Frisby - An old friend got in touch on Monday wanting me to help him buy some gold. “Well, better late than never,” I thought, and set about phoning some of the dealers I know.

I soon discovered that there isn’t any. My simple requests – well, I thought they were simple – to buy some tubes of sovereigns and one-ounce coins were just met with laughter.

On the one hand, thanks to you know what, demand has gone through the roof. “This is a global phenomenon”, Mark O’Byrne of Goldcore in Dublin tells me. “The entire industry has experienced record demand in recent days.

There’s a huge demand for gold, but no supply:

Jason Cozens, CEO of gold payments app Glint, who I spoke to yesterday, describes “a 718% increase in clients purchasing gold over the last five weeks. We are breaking records everyday.”

“The increase is not just in the number of people buying”, he adds, but in the amount they are buying. “The average buy per person has gone from £1,373 to £2,739.”

“The global supply of one-ounce gold and silver bullion coins and bars has quickly evaporated,” says O’Byrne. “We continue to have gold bars (one kilo) for now.” A kilo bar costs something over $50,000. It’s not your everyday purchase.

Dealers just can’t get their hands on the metal:

This supply chain breakdown has fed into the market. “It’s become very difficult for the market makers,” says Norman. “The normal bid-offer spread in the professional market is about 0.6% – about 30 basis points. Yesterday there were quotes of over $100. The spreads have got so wide because the market makers are worried about squaring that position away with counter-parties in the market.” The result is volatility. The gold volatility index is at its highest since 2008. Some dealers don’t see normality returning to the market for at least six months.

“If you want to buy physical gold,” says Norman, “you really can’t. Dealers are closed. Even kilo bars the spreads have gone to 6%. Physical premiums are up roughly a hundred-fold compared to three months ago.”

The next complication is in the futures market, Norman points out. “Normally, the premium over spot might be a few dollars. Yesterday there were premiums of over $100 to spot.”

Dealers are panicking because they can’t get the physical metal. The only way to cure it is to get the physical to the futures markets in the US. “But with most refineries and logistic routes closed,” says Cozens, “100-ounce bars cannot be supplied to be delivered into short futures positions.”

The LBMA has said it will help New York by shipping out 400-ounce bars. “Technically there are issues with that – size, purity etc,” says Norman, “but it can be managed.”

The last time the New York-London spread was as big as this was in the 1980s when gold futures went to that record high of $850/oz. That high remained for almost 30 years.

The result of the supply shortage was that gold rose some $80, or 5%, yesterday to record its biggest daily gain on record. “So the move in the spot market, on the spreads, on the physical premiums and on dislocation between spot and futures were all yesterday on a scale never seen before,” says Norman.

I asked James Turk of Goldmoney for his comments last night. He emailed me saying, “The volatility in various markets is unprecedented. Nevertheless, throughout it all gold has been an exemplary safe haven. Because gold is a tangible asset, owners of physical gold have excellent liquidity whilst also avoiding counterparty risk. To top it off, gold is up 9% for the year so far, with I suspect more price rises to come as the recent rounds of central bank quantitative easing inevitably inflate consumer prices.”

[kennyp52] 25/3/2020 08:31

Hopefully see a quick return to 90p to settle us down then move on again later in the year

[tightfist] 25/3/2020 07:54

Hi Sherry,.Personally I take a very simple view on PoG medium-term economic drivers, and choose to invest in what I regard as substantially geared/undervalued/expanding Miners (NIAI)..A level-headed and topical gold price discussion can be found within ADVFN thread "Gold: small/mid-cap Stock Comparisons" but there are other ADVFN threads that have more traffic/PoG views. .Hope that helps, tightfist

[sherry35] 24/3/2020 21:41

tightfist - What are the gold bugs/experts on your side of the pond saying about the POG going forward?

[sherry35] 24/3/2020 21:36

SBI.TSX end of market close of $1.28 CDN. share price has the responsiveness chlorquine and z-pak.

[borisjohnsonshair] 24/3/2020 10:45

I don't think they get fly's in mines. Bats maybe but hopefully they are beyond nightingales.