I thought I would drop the price of gold over the top of SBM to try and work out whether there is a certain POG where the market considers SBM is profitable and the price jumps suddenly.
Unfortunately I couldn't find that magic "in the money" level I was hoping for. I did find that despite the high cost of SBM production and various other issues alluded to here that SBM pretty well tracks the POG and has done for a long time.
The biggest discrepancy was during the general market slide last year - but even Lihir fell more than could be expected back then while Newcrest tracked the POG closely.
Time will tell - the recent fall was nasty - in fact one of the worst ever for SBM but I suspect that a lot of buyers don't look too closely at the company, cost of production etc. They will simply trade the sector - including SBM based on the POG.
Based on that I would expect a bounce - although I must admit that a healthy dose of skepticism needs to be applied here.
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Last
23.5¢ |
Change
0.010(4.44%) |
Mkt cap ! $192.2M |
Open | High | Low | Value | Volume |
23.0¢ | 24.0¢ | 22.5¢ | $1.778M | 7.631M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 28740 | 23.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
24.0¢ | 1260878 | 25 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 28740 | 0.235 |
4 | 431785 | 0.230 |
13 | 662812 | 0.225 |
23 | 1114184 | 0.220 |
17 | 620795 | 0.215 |
Price($) | Vol. | No. |
---|---|---|
0.240 | 1220878 | 24 |
0.245 | 490391 | 16 |
0.250 | 439768 | 10 |
0.255 | 106400 | 4 |
0.260 | 308150 | 6 |
Last trade - 16.10pm 06/06/2024 (20 minute delay) ? |
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Last
23.5¢ |
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Change
0.010 ( 4.72 %) |
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Open | High | Low | Volume | ||
22.5¢ | 24.0¢ | 22.5¢ | 3671369 | ||
Last updated 15.59pm 06/06/2024 ? |
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