Ann: Gwalia Mass Extraction Feasibility Study, Guidance & webcast, page-31

IMHO SBM SP should still be about $4.00s, $4.10s, $4.20s AUD. Now SBM looks extremely cheap and u need to downgrade a lot of management’s current assumptions, FY 19 is still 235K to 240K Oz from 245 to 255K Oz and the AISC is up from $930 AUD to $980 AUD so about $4.30 would be FV but with now a bit of Vassie and managerial integrity investigation, let us haircut to about $4.00 just to be conservative.

These current SPs are silly IMHO, bots are trying to send it down with strategic 25k lots that disappear as the price momentum comes towards them on the sellside.

Humans can see the same thing by a tool such as IRESS or IB, some market depth tool.

The Chaikin is lac’ of volume so with 986K units on the buy, 1.1 million on the sell, I would say this is a bot driven tree shake by the instos and it will reverse by trading day end and we will be back at an intraday high from what I see of the T/A pending no other newsflow. Only IMHO but pls DYODD.

there might have to be an ASIC investigation about management, this is not great managerial integrity but if you attacked a company on the ASX for that, the ASX would have an existential crisis as it probably applies to all of the companies on the. ASX. G.R.C., especially the disclosures, on ASX is a joke waiting for some substance.