I thought I would drop the price of gold over the top of SBM to try and work out whether there is a certain POG where the market considers SBM is profitable and the price jumps suddenly.
Unfortunately I couldn't find that magic "in the money" level I was hoping for. I did find that despite the high cost of SBM production and various other issues alluded to here that SBM pretty well tracks the POG and has done for a long time.
The biggest discrepancy was during the general market slide last year - but even Lihir fell more than could be expected back then while Newcrest tracked the POG closely.
Time will tell - the recent fall was nasty - in fact one of the worst ever for SBM but I suspect that a lot of buyers don't look too closely at the company, cost of production etc. They will simply trade the sector - including SBM based on the POG.
Based on that I would expect a bounce - although I must admit that a healthy dose of skepticism needs to be applied here.
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Last
21.8¢ |
Change
-0.003(1.14%) |
Mkt cap ! $177.9M |
Open | High | Low | Value | Volume |
22.0¢ | 22.5¢ | 21.5¢ | $295.6K | 1.346M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
40 | 1253887 | 21.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
22.0¢ | 326211 | 25 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
39 | 1252259 | 0.215 |
39 | 1257405 | 0.210 |
19 | 676559 | 0.205 |
37 | 968393 | 0.200 |
10 | 704322 | 0.195 |
Price($) | Vol. | No. |
---|---|---|
0.220 | 330511 | 24 |
0.225 | 533000 | 12 |
0.230 | 330065 | 14 |
0.235 | 497830 | 9 |
0.240 | 458707 | 14 |
Last trade - 12.14pm 18/06/2024 (20 minute delay) ? |
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Last
21.5¢ |
  |
Change
-0.003 ( 2.54 %) |
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Open | High | Low | Volume | ||
22.0¢ | 22.5¢ | 21.5¢ | 967574 | ||
Last updated 12.34pm 18/06/2024 ? |
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