It is a good question. The chairman is a complete incompetent. He has presided over monumental disasters, the worst being the purchase of Atlantic where they paid 3/4 of a $billion without doing the appropriate due diligence and approvals in place, and he is still there. How is that possible? Vassie got out quick smart after the purchase. Steven Dean was chairman of Atlantic, made a fortune selling SBM a dump. He must have been wetting himself laughing at the idiots on the SBM board and then they made him a director. He is still there and has done nothing to advance approvals needed for mining. I sincerely believe SBM's only hope is Craig Jetson. He is a good operator, has turned Gwalia around that had been run down and if anyone can salvage the debacle that is Atlantic, it is him. It is a concern that with current inflation, supply constraints and transport costs which would surly lead to cost blowouts in the building a sulphide plant at Simberi and you would think careful consideration should be given to it's viability. As for the rest of them your guess is as good as anyone's but I'd be getting rid of any that have been there since 2018/19.
SBM Price at posting:
$1.18 Sentiment: Hold Disclosure: Held
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