Serabi Gold Share Discussion Threads

[borisjohnsonshair] 02/3/2021 08:36

I predict non stop good news and reports, with sustained rises because the skeletons are removed. The last two exploration reports, if tomorrow and the day after would have huge impact.

[borisjohnsonshair] 02/3/2021 08:34

Back on board

[tiger60] 02/3/2021 08:30

It is like I am reading something different to everyone else. Reading the placing details and the RNS today there is nothing good, even Coringa timelines pushed out

[ppvn] 02/3/2021 08:29

Hey bojo nice to see you still lurking... there may be a bit of life in this old dog yet let's hope!

Volsung; look at the satellite imagery and it should tell you all you need to know about what happens when people refuse to entertain the thought that people living in an area should dare use the resources available to them. Gold mining if done the wrong way is very damaging and the by-products can poison vast swathes of the forest (as you will no doubt not bother to look and see). Serabi seem to go to some lengths to ensure the local population have good jobs and a sustainable future - a school, hospital, nurseries etc etc. But then I'm sure you'd be happy living in relative poverty so that someone thousands of miles away could say the Amazon basin should never be touched.

[volsung] 02/3/2021 08:26

Proud to boris

[borisjohnsonshair] 02/3/2021 08:25

Getting ready to push that trigger

[borisjohnsonshair] 02/3/2021 08:23

Neither do humans. Hug a tree you hippy.

[volsung] 02/3/2021 08:17

Dunno PP. Goldmining and pristine ecosystems don’t go together

[borisjohnsonshair] 02/3/2021 08:16

Yep - nice opportunity if it's possible to buy under the placement price. It won't be under that for long. I doubt before close today it will jump as the forward looking investors want a slice. Some old tired ones might sell early.

[ppvn] 02/3/2021 08:14

Absolutely right tightfist, and let's face it this (or closr to this price) should be a very firm bottom now. Can see this progressing nicely now the uncertainty is behind us.

Volsung, would rather suggest you look up serabi and their work. They actually clean up previous garimpiero activities and replant native species from their in-house nurseries...

[volsung] 02/3/2021 08:05

Good. Shares that destroy the rainforest should go down

[golden prospect] 02/3/2021 08:04

Folk will be wanting above £1 and a path to sustained growth

The rest will be history.

[tightfist] 02/3/2021 07:56

Hi PPVN; .What's done is done. IMO it seems to me that Greenstone had SRB over a barrel regarding relinquishing the Security Package in order that SRB could access debt funding in due course? Now we are finally edging away from Greenstone's clutches.....A far better perspective in MH's commentary this morning - it will be interested to see the major participants ("very strong names") during the month - and the combined warrant price and Exercise Price are reassurring..Let's get digging! tightfist

[ppvn] 02/3/2021 07:34

Guess we now know the cause of the rot. Must say, seemingly like most others this came as a bit of a gut punch to me.

The only positives I can find in this are the fact the CLNs are now dealt with (which at least reduces a small part of the dilution) and the uncertainty of future financing - although I was fully expecting it to be debt as has been said many times by the bod.

Few silver linings really but at least we should now be able to move upward in price. Hope bojo was able to take advantage of the drop from 90 - at least then someone else has benefitted aside from Greenstone.

[imastu pidgitaswell] 02/3/2021 07:03

There you go - done before the market opens. Onwards to FRES results...

[golden prospect] 02/3/2021 05:43

Majors in control, management answering to pay masters.
Retail investors misaligned.
75p floor should be a solid base for growth to mid-tier.
Uncertainty removed and expansion plans will please most.
Was $12m facility, now a structured deal $17.5m
On balance asking for extra $5.5m

[ironstorm] 01/3/2021 21:20

Track record suggests production of 30-40k forever. Coringa a red herring. Exploration will be pump exercises. Now may not be the time to sell. But this is on my ejection list.

[tiger60] 01/3/2021 21:06

That was never getting paid. It is a write off and even trying to sell the debt at 20% of face value saw no takers. But that has been around since end of 2019 - exceptional item

What is upsetting is how little of the funding is going towards coringa capex in the sense it is so contradictory to all other updates.

[lessentin] 01/3/2021 21:02

Reading right down the bottom of the rns, there is a section called “Background and Reasons for the placing”. It shows that usd 3.4 of the proceeds is for Coringa capex out of the total estimated capex required of 24.7m. It still says they hope to fund the rest via debt, but suggests they couldn’t do that at the moment due to the Security Interests that Equinox and Greenstone hold. So you could make the case that this gets things moving at coringa and gets rid of those Security Interests.

Usd 5m towards exploration sounds quite chunky.

The bit that is new to me is this stuff about usd 3.3m of sales taxes owed by the State of Para that’s starting to sound like it’s not getting paid.

[tiger60] 01/3/2021 20:56

Did you read the trading update at the bottom of the RNS in reference to qtr 4 figures - hmm.

Not sure they will get the placement away on primary bid. Why buy at 75

[cotton4] 01/3/2021 20:54

And if there is 3m ounces in the ground, it begs the question why buy Coringa in the first place.

[cotton4] 01/3/2021 20:52

Like you Tightfist, I am gobsmacked and trying to absorb everything. I always maintained that SRB was undervalued, even at todays pog and couldn't understand why the share price fell so much. Put it down to sentiment and the recent fall in pog.

With pog at $1700 and sales of 36000 oz, I still reckon the share price should be nearer to 1.75 as opposed to 75p. and thats without Coringa.

With the major shareholders on board, we retail investors have little clout other than hope this placing gives them the springboard to at last realise real value from their tenements.

Up until now I have placed a lot of faith in the credibility and ''honesty'' of MH and CL. That has taken a knock so its up to them now to deliver.