Serabi Gold Share Discussion Threads

[loganair] 26/3/2020 19:46

At the end of December Serabi had around $15mln cash in the bank.

After paying the $1.16mln to Sprott Serabi say they'll have $8.5mln cash in the bank.

I wonder what has happened to the other $5.4mln?

[tiger60] 26/3/2020 19:07

Well they have 3 working days to sort it out. I can’t help thinking the timing of the RNS was a response to a realisation that a deal may not be brokered. I just feel let down by the late notice on the equipment failure in Feb and not sure I will reinvest in the future.

No doubt there will be a few RNSs in quick succession. Would be nice to know the detail behind the clauses detailing the penalties/options upon missing the payment date. We also don’t know the detail of the conditions which allowed Greenstone to back out. SRB may say nothing to worry about but they would wouldn’t they.

Good Luck but coupled with an annual production target reduction, plus more funds in qtr 4 it doesn’t bode well. Hope I am wrong.

[tightfist] 26/3/2020 18:37

Tiger60: "They are not in a great position and don't expect any favours. Maybe cash call" is an interesting viewpoint. I too get the impression they are in a corner and need the help of a good friend to see them/us right - those thoughts were behind post #5773. IMO any movement in PoG/margin will be too slow to resolve any crunch..One wonders what conditions remain to be fulfilled before the Greenstone funds are received; the phrase "....will be completed at a later date" is hardly reassuring. My pure punt would be that SRB announce by 31st March a delay in the final payment to Anfield/Equinox and that this is rewarded with a progressive equity allocation from 1st April..But there are many permutations to resolve what IMO is a short-term issue, tightfist

[sherry35] 26/3/2020 17:04

Somebody is imposing a ceiling on POG and miners. SBI.TSX got hammered mid-day. POG got hammered twice the other day when zooming toward $1700 US oz.

SBI.TSX drops 33% in two hours of trading. So, how does one perform TA on low liquidity stock?

[hraj] 26/3/2020 15:10

Was meant to say 400p looks conservative.

[hraj] 26/3/2020 15:10

Sorry but 40p looks conservative..if it continues its heading back to the previous lows..at a time when gold is doing so well. I think it went as low as 250p last time

[trader365] 26/3/2020 14:00

If a mine suspension RNS lands it will be down another 30%

[borisjohnsonshair] 26/3/2020 13:55

Agree potential bottom if suspended. Then 300p by COB 2020. Coringa license and being developed, with Pailto producing plus additional exploration results increasing resource by 2,000,000 ounces. Happy bargain hunting

[tightfist] 26/3/2020 13:52

I suppose we could start having a contest for next week's RNS news?

[loganair] 26/3/2020 12:07

"The helicopter (money) are taking off all over the world. Will inflation follow? I suspect it's only a matter of time."

[tightfist] 26/3/2020 11:29

Hmmm...I added that as a BTW comment. Thankfully SRB/SBI are expressing western behaviour which should take the best care of our people. (Being half-full about it, in longer term maybe it will help us seen as a better employer and even garner increased loyalty?)..But I am mindful about revised timescales to potential Coringa license decision - now totally out of MH control. The state decision apparatus may deteriorate? tightfist

[c0lin1] 26/3/2020 10:53

PS: According to i this morning President Bolsonaro remains a CV denier!

not sure if thats good or bad.
It will mean the mine probably will stay open for the foreseeable but will it exacerbate the problem later down the line

[tightfist] 26/3/2020 10:08

Specifically regarding SRB, we need some flexibility from (at least one of) one Sprott, Greenstone or Anfield. Or will they make us toast! It's difficult for me to conceive the operational cashflow drying up..PS: According to i this morning President Bolsonaro remains a CV denier!

[cotton4] 26/3/2020 09:41

What we need is A stimulus package and some cheap financing until corona blows over.

[borisjohnsonshair] 26/3/2020 09:41

Storm in a teacup - at SRB and all over the world. It's a global teacup

[tightfist] 26/3/2020 09:29

My interpretation (confirmation bias!?) is that guidance could be maintained (and hence RNS not required?) because the OS results were sufficiently encouraging to offset the P2 Ball Mill issue during the FY..But now other issues have emerged and path through them is open to doubt? tightfist

[tiger60] 26/3/2020 09:05

Tend to agree - this is not the time to buy - unfortunately will be cheaper. The question must be asked why they didn't RNS the equipment failure in Feb as it was material to investors. Managements hopes of making up lost time is only an opinion and not one to base any decision to advise the wider market. Hold no shares and will watch but this will take time. The Gold price should be the saviour

[kiwimonk] 26/3/2020 09:00

This has had buyer beware all over it since 10 years back. Avoid like the.... !

[tightfist] 26/3/2020 08:47

I assumed the 53.5p x 3 x 10k are all Sells - but price stability suggests a delayed Buy in the wings?

[kennyp52] 26/3/2020 08:44

I can get a sell at 57p no problem but HL spread 53-55 ... lot of stuff being absorbed here and might be a time to top up but .... does anyone want to top up yet with the volatility ? FTSE having a breather after a couple of days positivity . Still very dangerous times . The other fact from the RNS is even though production was interrupted they were keen to get it out there that with the improved POG they expected the impact not to hit their forecast profits . What is more concerning is the secured debt . Anyone got the angle on the secured debts ... what is the negotiation with “Equinox”; ? Plenty of cash but if it is committed then there is no buffer for potential stresses from Covid 19 . Thus I presume the market response this morning . Boris you have been indicating 100k ounces with the ore sorter ; etc. - how do you break that down mate ?

[tightfist] 26/3/2020 08:44

Simultaneous Perfect Storms! What could be better - in my dreams, no Storm at all!