What turns SBM around? I can see a couple of scenarios that unfk this particular company:
Longer term 1. Political change in Canada, allowing the Atlantic operations to restart and expansion across néw permits (low near term probability/high impact/price re-rate)
Getting BAU right 2. Increased production in PNG IAW the 2024 plan (high medium term probability/low impact/gradual share price increase)
Death by a thousand cuts 1. Nothing happens for 24 months, cash runs down and/or management get skittish and buy some dodgy gold asset (high probability/low impact/gradual price decline)
Black Swan I wouldn't be surprised if SBM are considering using cash to diversify. (Toss a coin)
Price has been pretty stable for the last few months, so I'd suggest most of the weak hands have folded.
I'm changing my sentiment to "buy".
SBM Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
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