From the excellent report yesterday on the webcast some key questions asked of Bob Vassie, here's his answers:
1. negotiations are advanced for SALE of Gold Ridge mine
2. expect result within 1 month (either way)
3. tailings dam issue will not be a SBM liability after sale (very firm short NO)
4. Cash balance forecast to continue to grow.
Plus very upbeat on continued higher production, lower costs and very encouraging new prospecting results as detailed in the report.
Much attention to the Simberi gold mine and further exploration to increase production.
Vassies tone : great confidence in the SBM business and opportunities. Under promise, over deliver seems to be his objective.
Note Vassie is only in his 3rd qtr as MD.
SBM Price at posting:
41.0¢ Sentiment: Buy Disclosure: Held
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(20min delay)