SBM shareholders should not have too much to whinge about. The SP has held up very well considering gold got hammered on Thursday night - I sold out at 2.12 on Friday.
My concern is that SBM have strong 2012 earnings but can they keep this up once the Southern Cross mine runs out of gold?
The other issue is the gold price is range trading at the moment. The gold price has the potential to increase if QE3 comes around, otherwise if it breaks below the $1525-1530 support level, well - who knows where the next support will be?
SBM is a well run company, but there are similar sized Aussie run gold miners that are cheaper in this market. Agree with Markeewan that high 180s is the preferred entry point back in given the current gold price.
SBM shareholders should not have too much to whinge about. The...
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Last
19.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $159.5M | |||
| Open | High | Low | Value | Volume |
| 19.0¢ | 20.0¢ | 19.0¢ | $273.7K | 1.412M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 13 | 245548 | 19.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 20.0¢ | 980679 | 31 |
View Market Depth
| Last trade - 10.51am 27/06/2024 (20 minute delay) ? |
| SBM (ASX) Chart |