building a reliable platform

I think there is a message in the headline of the last quarterly'Building a Reliable Gold Production Platform', read the last para of front summary page and calculate a $400p.oz. margin on second half earnings, comes to a profit of over $50m.for 6 months. Annualise that, plus some real upside move on gold next year when the $U.S. goes into freefall and you will see that SBM is presently on a P/E in the range of 4-6 on this latest forecast.
Sure there is a new experienced boss now running the show and costs have blown out last quarter, but most mines are in the same position today. Also, recognise that the current share price equates to a massive 34% discount to the institutional placement of 10 weeks ago set at 41c, raising $75m.
I see good value and added to my position considerably yesterday at prices you would only see in a bear market where there is no allowance for upside when management get on top of controlling costs...just one of their ore bodies has a defined 5m.oz and that is worth a future motza.
SEARAY