I thought I would drop the price of gold over the top of SBM to try and work out whether there is a certain POG where the market considers SBM is profitable and the price jumps suddenly.
Unfortunately I couldn't find that magic "in the money" level I was hoping for. I did find that despite the high cost of SBM production and various other issues alluded to here that SBM pretty well tracks the POG and has done for a long time.
The biggest discrepancy was during the general market slide last year - but even Lihir fell more than could be expected back then while Newcrest tracked the POG closely.
Time will tell - the recent fall was nasty - in fact one of the worst ever for SBM but I suspect that a lot of buyers don't look too closely at the company, cost of production etc. They will simply trade the sector - including SBM based on the POG.
Based on that I would expect a bounce - although I must admit that a healthy dose of skepticism needs to be applied here.
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Last
23.3¢ |
Change
-0.003(1.06%) |
Mkt cap ! $188.1M |
Open | High | Low | Value | Volume |
23.5¢ | 23.5¢ | 23.0¢ | $148.2K | 641.2K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
13 | 340154 | 23.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
23.5¢ | 248810 | 17 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
13 | 340154 | 0.230 |
28 | 875157 | 0.225 |
38 | 1442709 | 0.220 |
20 | 725805 | 0.215 |
24 | 604855 | 0.210 |
Price($) | Vol. | No. |
---|---|---|
0.235 | 248810 | 17 |
0.240 | 282056 | 9 |
0.245 | 440807 | 16 |
0.250 | 370875 | 13 |
0.255 | 511248 | 10 |
Last trade - 10.56am 30/05/2024 (20 minute delay) ? |
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Last
23.3¢ |
  |
Change
-0.003 ( 0.68 %) |
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Open | High | Low | Volume | ||
23.3¢ | 23.5¢ | 23.0¢ | 177162 | ||
Last updated 11.21am 30/05/2024 ? |
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