Bought SBMO. Assuming merger proceeds consider: -
SBMO selling for 1cent but converts to 3c under the merger. 1 x SBMO= 0.081 Defiance mining under the merger (CA:DM on Bigcharts). 1 x Defiance = Canadian 35.5 cents (and has been CAD45c recently). So SBMO = 0.081 * 35.5 * 1.086(CAD-AUD) = 3.1 cents per SBMO share. 300% gain would result.
By comparison SBM only offers 36% gain; SBM trading at 6.4 cents and converts to 8.7 cents (0.226 Defiance). SBM 30Jun03 ann is good. Cost of gold production lowered by $117 per ounce. SBM now has no hedge positions - 30Jun03 ann - Meekatharra Operations generated a $2.3 million cash surplus for the quarter. A total of 18,947 ounces was sold at a net realised gold price of $535 per ounce.
Is SBM on the improve?
defaince conversion sbm vs sbmo
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Last
20.5¢ |
Change
-0.005(2.38%) |
Mkt cap ! $167.6M | |||
| Open | High | Low | Value | Volume |
| 21.0¢ | 21.0¢ | 20.3¢ | $348.3K | 1.696M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 286297 | 20.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 21.0¢ | 347076 | 5 |
View Market Depth
| Last trade - 16.10pm 08/08/2024 (20 minute delay) ? |
| SBM (ASX) Chart |