Serabi Gold Share Discussion Threads

[plat hunter] 06/6/2021 21:51

Actually Cotton what the company said was that they'll update the market if the 30th June deadline looked in jeopardy. In the words of Einstein, "Time is relative to the observer"

15 business days remaining and no updates.

[plat hunter] 06/6/2021 21:48

Stu, SRB currently don't have any any extensions beyond the 30th June 2021 to file the accounts. I'm glad you now see that as it's what i have plainly said all along and it's the complete opposite of what you, GP and Boris have been claiming over the last 24 hours, no matter which way you try to flip flop it.

If they get suspended it's a disaster, simples. If you had any brains or perhaps a clean conscience without any conflicts of interest then you'd agree perhaps.

[cotton4] 06/6/2021 19:54

The Company remains confident that based on the results of the
enquiries to date, the Financial Statements will be issued prior to 30 June 2021.

[imastu pidgitaswell] 06/6/2021 19:44

Which bit is disputed? I'm genuinely puzzled.

No-one said there is an automatic extension - I certainly didn't. All I can do is state it again:

The standard AIM deadline is 30 June, 6 months after the year end.
They can apply for an extension. If they need to.
They may or may not get one; there is a pandemic occurring, I think they would get one. If they applied.
If they don't get one, it's not a huge issue, as other examples demonstrate.

If I am wrong, I'm more than happy to admit it; I'm not looking for an argument, and I want to understand the situation, for obvious reasons. I think I do and nothing you have said has led me to believe otherwise. Please enlighten me if anything in the previous paragraph is incorrect.

[plat hunter] 06/6/2021 18:00

Penny dropped yet?

[plat hunter] 06/6/2021 17:59

Yes stu... so their filing deadline falls after the 6th april doesn't it?Therefore *NO* standard extention, they have to file by close of month or apply to extend by close of month via the nominated advisor.Tell me I'm wrong again, you're not looking daft or desperate enough still.Anyway, I'm sure they'll file in time lol

[backinblack80] 06/6/2021 17:01

"The fact that they either haven't done so yet, or that they haven't said so publicly, is not relevant either" Could be relevant...maybe, just maybe they'll file it on time..ta-da!

[imastu pidgitaswell] 06/6/2021 16:56

Yes - did you? The standard deadline is not 4 months after year end - that is for main market LSE stocks. Not relevant - why do you keep mentioning it?

The standard AIM deadline is 6 months after year end. SRB is an AIM stock.

I agree with the first half of your final paragraph. The Filing deadline is the end of June, and the request for an extension must be made before then. The fact that they either haven't done so yet, or that they haven't said so publicly, is not relevant either. Thems the facts, and I don't think you are disputing them. What you are disputing is the interpretation, and being absurdly negative; "demonstrable evidence of CFO's getting on a plane" - no they won't, it's a pandemic, ffs, that's the last thing they would want or expect - we will see what happens.

And as per previous posts, if they did get suspended, it's not great, but medium to long term, it's not very important. See SAA for an example. I think you're making too much of it, as usual.

Football time.

[imastu pidgitaswell] 06/6/2021 16:16

Plat - see this link, posted 3 times already:



"An AIM company seeking an extension of its reporting deadline for its annual audited accounts pursuant to AIM Rule 19 can apply to AIM Regulation for an extension of up to three months. The request for the extension must be made by the AIM company’s nominated adviser and submitted prior to the current AIM Rules reporting deadline."

I can't see any other interpretation of this than it is possible to get a 3 month extension to the standard 6 month deadline. Am I missing something?

Please do read it and don't (yourself) confuse Companies House, main listings and AIM.

[borisjohnsonshair] 06/6/2021 13:29

See someone then.

[plat hunter] 06/6/2021 12:45

Mental, absolutely mental.

[borisjohnsonshair] 06/6/2021 12:39

They may as well suspend now. Freeze the price and when it's resolved it'll gap up. If they suspend, is not want to not be a holder.

[borisjohnsonshair] 06/6/2021 11:08

You are generous suggesting the are "deliberately" confused. I think they are just confused.

[golden prospect] 06/6/2021 10:36

BJH, I suspect some deliberately confuse with requirements of companies that have a full listing.

However (during the pandemic), Serabi is listed on AIM and the extension period, if applied, offers publication period ending SEPTEMBER 2021



Reference

[plat hunter] 06/6/2021 10:23

How is it 3 months after June Boris, it literally says it in black and white?LSE is 4 months max from year end and can be extended by 2 so 6 in total. Companies house is 6 months and can be extended by 3 so 9 in total.After 6 months with no filing they'll be issued a suspension notice pursuant to AIM rule 19. After 9 months with no filing, they'll be required to file for dormancy with regards to their England and Wales incorporation. If you still don't get it, please for the love of good, go and speak with a chartered accountant or a lawyer.

[plat hunter] 05/6/2021 19:04

You all realise that Companies House is nothing to do with the LSE right? refer to LSE 6 months rather than 4 which ends at the end of the month for SRB

[tightfist] 05/6/2021 18:43

Hi IMP, thanks for the SAA example. Reported 11 months after year-end, and up 158% since AIM restoration - Nice!.Cheers, tightfist

[backinblack80] 05/6/2021 13:30

Good spot Golden prospect.
It's reassuring to know that they can make an application for an extension to the deadline of up to 3 months, if required. However, I sincerely hope this is not required.

[imastu pidgitaswell] 05/6/2021 13:29

Whatever the issue of the deadline (and I think it is extendable until the end of September should they ask to do so)



any potential suspension of the shares need not mean anything significant over the medium to long-term - see the example of SAA given in the post below:

[plat hunter] 05/6/2021 10:56

That's misquoted GPSRB haven't cited COVID as a delay to these accounts. CH has only unofficially blamed covid as the reason why HE can't help with the accounts. And SRB as far as we are aware have not yet applied to companies house for a covid extention.SRB currently have until the end of June to file, Defacto.Corporate Reporting for listed companiesTemporary reliefs for delayed publication of financial statements will remain in place until the disruption caused by the COVID-19 pandemic abates. The joint statement indicates that companies will be given plenty of notice when it is decided to bring any of these measures to an end.  The measures are:An additional two months to publish annual financial reports (link to FCA website) (i.e. within six rather than four months of the financial year end date).An additional month to publish half yearly financial reports (link to FCA website) (i.e. within four rather than three months of the financial half year end date). Extended period for filing accounts at Companies HouseAt present the deadline for filing any accounts with Companies House is extended by 3 months. While this automatic extension expires on 5 April 2021, it will be replaced with an application process (link to Companies House website) to Companies House, with companies granted a discretionary 3-month extension where they cite coronavirus as a factor impacting the timely completion and/or audit of accounts. 

[golden prospect] 05/6/2021 09:56

For those that might be interested, there is no pressure on 30th June for releasing accounts as some have reported. See Guidance Notes.

Serabi extension available up to 30th September if needed.



"AIM COMPANIES

Concurrently, the London Stock Exchange has also confirmed that the temporary measures put in place last year to allow AIM companies to request an extension of their reporting deadline remain available until further notice. The temporary reliefs for AIM companies are:

An additional three months to publish the annual audited accounts (i.e. within nine rather six months of the financial year end date). An additional month to publish its half yearly report (i.e. within four months rather than three months of the financial half year date)."

[golden prospect] 05/6/2021 08:33

It appears a multi-handled poster is trying to scare investors out of Serabi; a very dirty trick that is likely to be reported for defamation.

On the value front for SRB, 51 million market cap, debt free and high grade producing. 2nd mine Coringa $22m paid for ( plant ready ), $5m on exploration this year with news due.

Strong cash balance sheet given recent placing at 75p for $17.5m, plus new investors paid 6p for warrants striking at 93.75p

A rising gold price may make for stellar returns.