Golden prospect11 Aug 2022 16:18
New Investors can take huge comfort that institutions invested at 75p last year (2021) to the tune of £12.5m ($17.5m dollars). At a guess Premier Miton Group Plc are under pressure from fund redemptions. https://www.investmentweek.co.uk/news/4053139/outflows-continue-mount-premier-miton Greenstone, a cornerstone investor also participated on a pro-rata basis, maintaining 25%. This amount was wisely used to payoff Equinox so that the Coringa project ($22m ) was fully paid. Coupled with buying new mining equipment and pre-development at Coringa, Serabi also settled the standby CLN facility from Greenstone, a huge lifeline offered during covid when the world seemed uncertain. Arguably, Serabi come out of the covid saga in a stronger shape. The balance sheet strengthened, exploration prospects advanced, and a profitable business developed despite the ups and downs. It's worth noting that the 2021 new investors also paid for 4,003,527 warrants at an issue price of 6p raising £0.2 million, the Exercise Price being 93.75p On the occasion I have mentioned takeout above £1, it's simply in reference to the option pricing. Clearly value is much higher than this else why did the 2021 new brigade pay for warrants effective at £1 (93.75p+6p = 99.75p) ? Substantial re-rate beckons as Serabi are one of the cheapest valued producers in town, why else would the armchair brigade be interested ? !