the cash available as at 30 June 2023 was $247 million (with no debt) and excludes $47 million deposited in a restricted account in relation to the Touquoy reclamation security bond. An additional $43 million is expected to be deposited in a restricted account in relation to the remainder of the C$80 million latest reclamation security bond estimate. The tax liability on the sale of the Leonora Assets and transaction costs were not yet paid as at 30 June 2023.
So there it is $247m minus $43m bond, the tax on the Leonora sale and transaction costs. I did a calculation a few weeks ago and that left approx $160m. So they continue to mislead imo. However the biggest negative for me is, it's the same bunch of incompetent directors that destroyed St Barbara that are still there even though board renewal was promised. More bs.
I think the above is the reason it is now 19.5c and I expect it to continue to fall until real change in management happens. Don't hold your breath.
SBM Price at posting:
19.5¢ Sentiment: Sell Disclosure: Not Held
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