I thought I would drop the price of gold over the top of SBM to try and work out whether there is a certain POG where the market considers SBM is profitable and the price jumps suddenly.
Unfortunately I couldn't find that magic "in the money" level I was hoping for. I did find that despite the high cost of SBM production and various other issues alluded to here that SBM pretty well tracks the POG and has done for a long time.
The biggest discrepancy was during the general market slide last year - but even Lihir fell more than could be expected back then while Newcrest tracked the POG closely.
Time will tell - the recent fall was nasty - in fact one of the worst ever for SBM but I suspect that a lot of buyers don't look too closely at the company, cost of production etc. They will simply trade the sector - including SBM based on the POG.
Based on that I would expect a bounce - although I must admit that a healthy dose of skepticism needs to be applied here.
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Last
21.0¢ |
Change
0.015(7.69%) |
Mkt cap ! $171.7M |
Open | High | Low | Value | Volume |
20.5¢ | 21.0¢ | 20.0¢ | $2.213M | 10.76M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 361025 | 20.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
21.0¢ | 1595913 | 23 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 3415 | 0.205 |
11 | 617313 | 0.200 |
8 | 510230 | 0.195 |
16 | 781665 | 0.190 |
11 | 483620 | 0.185 |
Price($) | Vol. | No. |
---|---|---|
0.210 | 1335055 | 20 |
0.215 | 984108 | 10 |
0.220 | 770395 | 11 |
0.225 | 273555 | 10 |
0.230 | 251538 | 10 |
Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
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