What turns SBM around? I can see a couple of scenarios that unfk...

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".