It's a very good point. I think this board have talked this down as much as they could.
A couple of other things. They have said SBM may exceed net debt of $163 million. Current net debt is $112 million. If they actually watch what the contractor (McMahon's MD is Finlayson's good mate) is doing at Gwalia, might help, because that seems to be a major problem for SBM. Remember Jetson had announced that SBM will meet guidance, he then went to Canada and on return was told that the contractor had dropped the ball and everything had gone pear shaped.
PNG and Atlantic now making money again and Simberi should increase profitability as it gets back up to speed.
SBM Price at posting:
64.5¢ Sentiment: Hold Disclosure: Held
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