SBM would be a much better fit for Mark’s comments than De Grey Mining. Mallina funding secured was more the reason for the Sp rise in DEG. I think most people would recognise DEG as overpriced with a TO premium built in already whereas SBM matches Mark’s words in being underpriced.
If Barrick did go after DEG, which I doubt, that would still probably cause a rerate for SBM. More jets for jettisoning Jetson before we have any more 737-Max events.
SBM assets are much better than the market gives them credit for but watching the SBM management are like watching a Chucky Movie or We Know What You DId Last Summer.
SBM Price at posting:
63.3¢ Sentiment: Buy Disclosure: Held
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