The higher AISC is obviously a consequence of the low production number, so can be explained away, but even so, you get results or you get excuses. I thought this report was pretty average at best.
Going back to the quarterly update from a few weeks ago, I guess the market must've already priced this in, and maybe a few out there were expecting worse - hence the bump today.
A while ago, it occurred to me that SBM was weathering bad news quite well (tax debacle aside) and i got the sense the market was starting to look beyond the sh1t fight its been and beginning to imagine a future with a higher earnings profile. They did manage to entice the instos with a well subscribed CR, for example.
All the goldies have underperformed the AU gold price pretty substantially. Perhaps we're going to have a more cyclical response now that inflation is not the big news story it was - either gold corrects or goldies start to outperform. I reckon we're well placed for a decent run.
SBM Price at posting:
25.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)