250-300 M
sure its non cash but as we all know thats because the cash was spent previously
Cash and capital was rasied at 3.9 and they are writing off a maga amount of capital previously spent
and a mega amount as a % of overall cost
2019.05.15-asx-st-barbara-agrees-to-acquire-100-of-atlantic-gold-corporation-and-equity-raising.pdf (stbarbara.com.au)As it turns out, SBM did infact, under the leadership of Vassie pay way too much and expect way too much
Just look at the FY 2022 projected costs and what it was producing for at the time of acquisition and what they expected
Some time later EVN also bought a mine, gold aud was much higher and they paid less comparative.
Old management went hard spending the cash pile, raising capital and going into debt
New management which was familiar has not delivered either production or the margin.
With PNG just seemingly breaking even on guidance, excluding great amounts of capital required,
Gwalia talking open pits moving trains - SBM will need capital from somewhere imo
Still find no reason to buy back in at 1.60..
No dividend should be resonantly paid in this circumstance, multiple operations need more capital to expand develop and improve and margins and production continue to shrink.
An major shake up of management and the board could bring some stability and something for investors to hang onto, but at the present time it wouldn't surprise me to see some long termers starting to leave.
A very long list of operational issues and clearly bad investment made of shareholders capital.
Good luck....
(20min delay)