@JollyJohn Add to the tab the $300-odd million for the infamous Mad Max mine they purchased in the Solomons around 2011-12, and you're talking over a billion dollars in less than ten years.
Imagine what they could have used that capital for instead of chasing rainbows and unicorns abroad, and to add insult to injury SBM actually used to operate King of the Hills that Red5 are currently developing 30km up the road from Gwalia as a 14-year+ project.
@timbin4 spot on, SBM is a case study in what can happen when boards fail to undertake proper due diligence, fundamentally misunderstand what they are buying, and do not hold each other to account in the interest of sh's.
An unbelievable amount of money literally p$$$d up against the wall in the last decade. Could have been a $2.5B company by now.
Just disgraceful.
SBM Price at posting:
65.0¢ Sentiment: None Disclosure: Not Held
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