destined for further share price decline, page-66

frosty

Thanks for sharing.

SBM is very high risk with crappy management.

Perhaps they are saving money by not operating at Gold Ridge - the only cost would be paying for expats who would now be based in Oz, I doubt they are paying anything to their former workers in the SI. So perhaps they are saving $10m there per quarter. The total loss of the pacific island operations was around $29m per quarter (but I should check that figure as my memory is bad.)

Their performance at Simberi gets my blood boiling - bottlenecks should not take a year to clear, and most should have been anticipated.

Most of their production is hedged at around AUD1390 until end September 2014, so the drop in the POG is not much of an issue at present.

I will buy some shares for a gamble if they hit 10 cents. Should get a bounce off that I would imagine.

loki