cashflow from group operations remains negative- cashflow Atlantic 26 plus to minis 3 m
on quarter
Lenora a bright spot as cashflow from operations was positive - only problem there is it collpased quarter in quarter more than 50 percent to26 m-
simberi remains a chain and as expected no quick fix but I assume the environment is happy with no deep sea tailings being pumped and dumped into the ocean—- ( no matter how safe they say it is)
cash balance dropped quarter on qtr for group and net debt continues to rise
Lenora expansion details dates which are a very long time away - and which will require capital to realise - something the existing operations are not generating
hedging still in place
some say it’s a takeover target - good luck with that at this price - how much do you pay for a falling production - ever increasing cost - group negative cashflow and something that needs more capital for development and expansion with a resent history of capital destruction buy and expanding that was looking to deliver more and delivers less?
still waiting on the write downs -
Atlantic operations going 26 to negative cashflow- higher costs that forecasted- production etc should imo warrant some beefy overdue write down on the value overpaid for this asset - I expect it will come as a suprise as management or accountants finally realise mark to market is real
- can’t see a dividend being reinstated with the current operations cashflow - and future capital required for development / expansions and growing net debt and cloud over wrotedown of Atlantic
time will tell - good luck
SBM Price at posting:
$1.34 Sentiment: Sell Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)