It might be as simple as the fact that SBM is a very high cost producer. With the $A gold price over $1,300/oz, there was no question that they were making money. However, as the price comes down, their level of profitability plummets much more quickly than a company with total costs of, say, $700/oz.
So, unless there is some bad news out there which we don't know about, SBM is just doing what it does - being essentially a leveraged play on the $A gold price.
lift, page-26
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Last
20.8¢ |
Change
-0.008(3.49%) |
Mkt cap ! $171.7M | |||
| Open | High | Low | Value | Volume |
| 21.5¢ | 21.5¢ | 20.8¢ | $342.6K | 1.630M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 29 | 952355 | 20.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 21.0¢ | 194706 | 17 |
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| Last trade - 11.04am 26/07/2024 (20 minute delay) ? |
| SBM (ASX) Chart |