blacks,
In 2008/09 SBM was in financial distress, accounting errors and high costs meant they were forced to raise capital to remain a going concern. Combining that with 2008 GFC & Lehmann collapse, price collapsed to $1.02-1.20 range i.e. $0.17-0.20 in those days. Down from a high $5.18 ($0.863) in Mar-08.
At its current price $1.30, market is now pricing SBM at or near its 2008 crisis GFC levels. That's crazy and way O'sold IMO. I don't believe SBM is that bad now even with the acquisition. But if you have to sell, then you sell at ANY price ...
This year SBM will make record profits. Next year aiming for 430+ koz from 4 mines + 6Moz Reserves. At current gold prices in 2013FY SBM can make $100-150m profit if cash costs are $800/oz. Not impossible OR am I dreaming. Gold bull run has long way to go yet!!
At some point, gold stocks will start to pick up and so will SBM. Fair price is $2-2.05 at current gold prices IMO.
DYOR.
blacks,In 2008/09 SBM was in financial distress, accounting...
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Last
20.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $163.5M | |||
| Open | High | Low | Value | Volume |
| 20.5¢ | 20.5¢ | 19.8¢ | $687.8K | 3.425M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 278140 | 20.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 20.5¢ | 744228 | 13 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| SBM (ASX) Chart |