Golden prospects post from advfn20 May 2022 11:12
What makes SRB particularly attractive is that most valuations are just on the palito producing complex. Nothing in the price for Coringa which Serabi already fully paid 22 million dollars, and pre-production works guess 6 million dollars (was 3 million ending Sept 2021). Should fly on LI news, my opinion and no advice offered. In 2021, ending September, the management team have carefully applied $18m of funds: (as reported in the 9 month publication of results) Purchase of plant/equipment $2.4m Mine development $3.8m Exploration $3.3m (some great de-risking of the enterprise) Pre-production Coringa $3m (some great de-risking of the new project) Complete Coringa acquisition $5.5m (debt free) Advancing Coringa has given the advantage to trial mine, and this should help to de-risk the project for debt financing