SBM had the difficult task to operate in 2 challenging jurisdictions. The goverments and local communities had more benefits that shareholders. No doubt. However, both deposits can be profitable.
PNG can have a turnaround once the company makes the required investment to move from sulphide to oxide. PNG government is so screwed that they will be forced into helping the only industry that have the courage to invest there (oil, gas and mining)
Canada is making really to develop anything there. Huge red tape generated so many setbacks and environmental crap = a huge delays and loss for the company.
However, that is all very well priced in?
There is more things that can go right than wrong from here. imo.
Recent trading action suggest someone may hold sp for a month or so around here. and through an offer.
SBM Price at posting:
15.0¢ Sentiment: Buy Disclosure: Held
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