Basically..... SBM post sale of G.... is a basket case. $125m in cash, but.... they will soon put Atlantic on to C&M, then you just have Sim, which has ore for perhaps 2 years... I can only assume that once the sale of G occurs, the board will look to fire sale everything and just close SBM altogether. Doubt they will get anything near the current E/V, which to me, implies that the share price is simply going to keep falling, even with the 'good' price they are getting for Gwalia. Sigh.... why oh why did even put $1 into this stock, even if it was in my Super which I will probably never get to enjoy because the Gov will keep pushing out the retirement age
Hat's off to GMD. At least they are getting the deal done quickly... pretty impressive to raise $470m. Basically their entire market cap.
Good luck to all holders. I struggle to see any positives in anything that occurs from here....
SBM Price at posting:
61.0¢ Sentiment: Sell Disclosure: Held
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