Serabi Gold Share Discussion Threads

[borisjohnsonshair] 05/8/2020 11:40

You make a good point. The support was offered so keeping them onside makes sense and might be been the sweetener to allow for the extension. They are larger holders so swing & roundabouts for them to suppress the price or take on CLNs whilst cash rich!!! Let's see - MH certainly seems like a genuine person. I think the license is the biggy. Doubles everything - NAV, output, hence future revenue and income.

[king suarez] 05/8/2020 11:30

I agree that the price is not reflecting POG. This is/was a similar situation to AAZ (a well run company) where the price had been in a range for c12 months, despite POG increase and balance sheet improvement - however that is now breaking out of the trading range.

I assume management were possibly just being prudent re: drawdown of CLN loan. Also they may wish to use Greenstone in future for expansion capital, in which case would have looked bad to arrange the financing and then not use it? I don't know..

Could just be a great opportunity here?

[borisjohnsonshair] 05/8/2020 11:25

Look at the POG. We are making a future relative to MCAP plus license news imminent. Doesn't stack up.

[borisjohnsonshair] 05/8/2020 11:24

Loads of buys but seemingly a big supply available. I don't get it, so don't like it.

[borisjohnsonshair] 05/8/2020 11:17

The CLN is a slush fund essentially. Why was it drawn down with US$9M in the bank. We could have settled Sprott (as we did) and the first payments to Equinox from cash.

[borisjohnsonshair] 05/8/2020 11:14

Possibly, not entirely sure but the price is wrong. They've extended the deadline for the CLN but the last unnecessary US$3M draw down suppressed the price. Why

[king suarez] 05/8/2020 11:11

Are you concerned they could force a cheap takeover due to have over 50% control with 2 major shareholders, or are there other concerns? I don't know the funds history..

[borisjohnsonshair] 05/8/2020 11:04

Major investors (two in particular), one of whom on the board and small retail component.

[king suarez] 05/8/2020 11:02

What do you mean by the 'structure' exactly?

[borisjohnsonshair] 05/8/2020 11:00

If this doesn't go above 100p soon, I'm going to bail out. Not due to lack of patient but as I don't trust the structure. It's incredibly undervalued by most metrics and the potential off the scale at face value.

[borisjohnsonshair] 05/8/2020 10:05

2 x 55,000 @ 90p. I don't like the trading that's going on. SXX screed the little guys ....

[tiger60] 05/8/2020 08:55

Gold hits highs we go down! Should turn around...

[borisjohnsonshair] 05/8/2020 08:49

We seems to be hard to move for a company with only 16% retail stock. Very sticky!!! It doesn't matter - any day now the news will drop that Coringa license in the bag. When we complete the payments the NAV of the business will double!!!

[borisjohnsonshair] 05/8/2020 08:29

Looking good

[trader536] 05/8/2020 08:07

Gold thro 2k and SRB flat, same old

[tiger60] 05/8/2020 07:46

Should hit three figures here today

[sherry35] 05/8/2020 01:41

All - I found the new thread/forum. I was in hospital for a few days due a vehicle collusion. Decide today to stop feeling for myself and get back to my duties.

In my opinion, MH should look for the most direct path to revenue generation at Coringa. I would like to see a more aggressive plan with the new director driving it.

Gold blew through $2000 US oz. Just touch $2030 on the Sydney exchange at 20:00 EST. My MND is on track for 100K oz (or $92M US profit) for 2020 and SBI won't be far behind. I went through a nail bitter with MND as it plunge below my average price.

[ppvn] 04/8/2020 23:36

I would think that if it is them and if they've only been issued $2m of CLNs they would need to put out an RNS, yes. But I'm no expert on these things. I'd imagine they are about 1.1mm shares oversold though (so around 2%).

[cyberbub] 04/8/2020 23:24

It seems likely that it's not a coincidence. Given how many they've sold I would expect a holdings RNS imminently if they're being honest?

[ppvn] 04/8/2020 23:17

If they have inadvertently sold too many shares in the expectation of being issued more CLNs I suppose so. But that would also lead me to think that they were unaware that Serabi were contemplating this attempt to "go it alone" - they do have a rep on the BOD so to be honest I have no idea.

Some coincidence though, no?

[cyberbub] 04/8/2020 23:13

So if you're right we should get a holdings RNS from Greenstone if they have gone below a % marker, even temporarily until they get their newly-issued shares?

[ppvn] 04/8/2020 23:09

Hi Bojo,

I make the total since 3rd July now 3.016mm OILQ trades. Funnily enough they ended yesterday, I.e. there were absolutely none today. If greenstone had sold more shares than they will acquire from the conversion of CLNs that would explain why all stopped today...

Anyway seems like upward share movement should happen tout-suite as they say - so will wait and see what we get told in due course!

[kennyp52] 04/8/2020 22:24

Didn’t just hold ... went again ... closed $2019 . Overnight will be interesting ... we have the Indian buying season coming which could help it hold or even accelerate it . Crazy times .

[borisjohnsonshair] 04/8/2020 20:59

License award tomorrow would be nice