SBM

2.33%

21.0¢ st barbara limited

Ann: Non-cash impairment of Atlantic Operations expected in FY21, page-3

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Incorporeal

108 Posts.

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20/08/21

09:33

Post #: 55434661
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Originally posted by sydneyguy: ↑

250-300 M

sure its non cash but as we all know thats because the cash was spent previously

Cash and capital was rasied at 3.9 and they are writing off a maga amount of capital previously spent

and a mega amount as a % of overall cost

2019.05.15-asx-st-barbara-agrees-to-acquire-100-of-atlantic-gold-corporation-and-equity-raising.pdf (stbarbara.com.au)

As it turns out, SBM did infact, under the leadership of Vassie pay way too much and expect way too much

Just look at the FY 2022 projected costs and what it was producing for at the time of acquisition and what they expected

Some time later EVN also bought a mine, gold aud was much higher and they paid less comparative.

Old management went hard spending the cash pile, raising capital and going into debt

New management which was familiar has not delivered either production or the margin.

With PNG just seemingly breaking even on guidance, excluding great amounts of capital required,
Gwalia talking open pits moving trains - SBM will need capital from somewhere imo

Still find no reason to buy back in at 1.60..

No dividend should be resonantly paid in this circumstance, multiple operations need more capital to expand develop and improve and margins and production continue to shrink.

An major shake up of management and the board could bring some stability and something for investors to hang onto, but at the present time it wouldn't surprise me to see some long termers starting to leave.

A very long list of operational issues and clearly bad investment made of shareholders capital.

Good luck....

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I noticed you are not a holder, just wondering how long ago it was when you sold all of your SBM stock?

If so, what was your reason?

SBM Price at posting: $1.60 Sentiment: Hold Disclosure: Held
3 Upvote

0 Great analysis

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Last 21.0¢		Change -0.005(2.33%)		Mkt cap ! $171.7M

Open	High	Low	Value	Volume
21.5¢	21.5¢	20.8¢	$551.3K	2.624M

Buyers (Bids)

No.	Vol.	Price($)
2	52999	21.0¢

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Price($)	Vol.	No.
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No.	Vol.	Price($)
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SBM (ASX) Chart

Ann: Non-cash impairment of Atlantic Operations expected in FY21, page-3

MinRes jumps 5% as the company meets production guidance – depressed iron ore prices be damned

Monadelphous inks $200M contract with Woodside to help build Pluto LNG – but will it make Scarborough cheaper?

IGO kicks off earn-in copper drilling on-site Encounter's Yeneena play as it adopts new identity

Horizon firms up ore reserve for Boorara ahead of FY25 Q1 development decision

Nine's staff strike as Paris Olympic coverage begins

ASX Market Open: ASX200 to rise for Friday session | July 26

Tissue Repairs soars nearly 32% on TGA approval for wound healing gel

Nova locks in NASDAQ US market listing at a value of only US$3.3M as ASX gets quieter and quieter

Capital raisings wrap: Brainchip, Ovanti, Lake and VHM

Red Hawk upgrades Blacksmith with DSO mineral resource at the Eagle Deposit

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Buyers (Bids)

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Ann: Non-cash impairment of Atlantic Operations expected in FY21, page-3

Top Stories

MinRes jumps 5% as the company meets production guidance – depressed iron ore prices be damned

Monadelphous inks $200M contract with Woodside to help build Pluto LNG – but will it make Scarborough cheaper?

IGO kicks off earn-in copper drilling on-site Encounter's Yeneena play as it adopts new identity

Horizon firms up ore reserve for Boorara ahead of FY25 Q1 development decision

Nine's staff strike as Paris Olympic coverage begins

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Tissue Repairs soars nearly 32% on TGA approval for wound healing gel

Nova locks in NASDAQ US market listing at a value of only US$3.3M as ASX gets quieter and quieter

Capital raisings wrap: Brainchip, Ovanti, Lake and VHM

Red Hawk upgrades Blacksmith with DSO mineral resource at the Eagle Deposit

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News