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
23.0¢ |
Change
-0.015(6.12%) |
Mkt cap ! $188.1M |
Open | High | Low | Value | Volume |
24.5¢ | 24.5¢ | 22.3¢ | $1.332M | 5.795M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
9 | 502478 | 22.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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23.0¢ | 194389 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
9 | 502478 | 0.225 |
27 | 782127 | 0.220 |
21 | 970122 | 0.215 |
20 | 688888 | 0.210 |
7 | 475988 | 0.205 |
Price($) | Vol. | No. |
---|---|---|
0.230 | 194389 | 4 |
0.235 | 533945 | 7 |
0.240 | 562895 | 12 |
0.245 | 338362 | 11 |
0.250 | 401542 | 11 |
Last trade - 16.10pm 13/06/2024 (20 minute delay) ? |
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Last
23.0¢ |
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Change
-0.015 ( 4.17 %) |
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Open | High | Low | Volume | ||
24.0¢ | 24.0¢ | 22.3¢ | 2012084 | ||
Last updated 15.59pm 13/06/2024 ? |
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