the circle turns

Just revisited the SBM thread after noticing a new low of .21. I'm tempted to get back in, but SBM is a strange girl ... very contrary, so she could go lower just to spite everyone.

I first started trading SBM in 2006 - and my first trade was 40000 at .19 and kept on trading it up I made a lot of money out of it. Thank god I haven't been present on the down part, because it looks like it's been brutal, but I"ve always kept an eye on this one.

But my point in writing this is this: At that time it was sailing up on 'great promise' - on paper it looked fantastic, yet each quarterly would show a loss. So everybody figured, no problem, they're working it out ... we're buying potential ..

But issue for SBM remained as it always has been, and as many here have pointed out - the ongoing curse of high costs.

They just can't seem to make enough margin per OZ to balance all the other costs - hence their ongoing glowing potential for great profit never works out.

And looking at it now, I can't see anything changing - same old properties, same resource base that looks good on paper ... so unless they discover a brand new resource which is not so expensive to mine, I'm thinking SBM is stuck.

And the SP is falling because I think a lot of long term holders have finally lost patience and decided to cut their losses.

So I guess I've talked myself out of buying in ...

But still, .21 is attractive ...

...maybe a little flutter ... for old times sake.

After all, it has potential ...