So sitting on $190mill cash and $50mill in investments
In FY25 they expect to spend $50mill on capex and exploration also another $14mill in corporate costs. Mining operations aren’t expected to exceed $10mill in profit (could end up losing $10mill)
Then looking to spend an additional $380mill over the next 4 years to fund a project that won’t starting producing gold for 4 more years (200k oz per year for 10 years at a cost of $1550/oz)
So we really need to see POG far exceeding AUD of $4000/oz, to be able to achieve that without taking in debt/massive share dilution.
not to hard to see why we are trading well under cash plus investment value. Risky risky business!!
if this works out the upside can be huge!!
SBM Price at posting:
21.0¢ Sentiment: Buy Disclosure: Held
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