Manipulation.. possible!
However St Barbara need a very high US Dollar gold price in conjunction with a very weak Australian dollar (based on their current production costs) to be profitable. Reducing costs is SBM's top priority, but until the market see signs of this I wouldn't expect too much.
They also mentioned another capital raising was imminent shortly after they last raised money.
Personally I thought the SP rise before the last placement was a bit suspect... so perhaps they are cashing up for the next *cough* pump *cough* placement.
SBM will probably be very strong later in the year regardless of any improvements in production costs, so I'd hold if I had any.
manipulation?, page-11
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Last
21.0¢ |
Change
-0.005(2.33%) |
Mkt cap ! $171.7M | |||
| Open | High | Low | Value | Volume |
| 21.5¢ | 21.5¢ | 20.8¢ | $396.9K | 1.889M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 19 | 402116 | 21.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 21.5¢ | 516773 | 33 |
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| Last trade - 13.16pm 26/07/2024 (20 minute delay) ? |
| SBM (ASX) Chart |