Of the $63,139,000 net cash outflows from operating activities, $56,113,000 did not relate to current business activities as it was in relation to the Leonora asset sale for the settlement of working capital and income tax on the sale.
SBM is pretty much going to be a cash neutral developet with almost 7Moz of Gold.
In 2 years, they may have again 2 producing mines and you will look back and think how the market was still looking backwards. All bad news already priced.
Most long-term holders who had to give up. Already did. a lot of them on the lows unfortunately.
Most ETFs and funds who had to rebalance, probably also did. I thought it was done but most likely this is going until end of February.
Then when we start getting positive drill results from Simberi and Atlantic, market is going to find the correct price which is north of $0.30
SBM has $168 MILLION IN CASH. mre OF 6.7Moz, 1 operating mine, one in C&A and a lot of potential.
If I was a Canadian mine I would through a low offer here at 20c and steal this company.
SBM Price at posting:
15.0¢ Sentiment: Buy Disclosure: Held
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