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
28.0¢ |
Change
-0.005(1.75%) |
Mkt cap ! $229.0M |
Open | High | Low | Value | Volume |
27.5¢ | 28.0¢ | 26.5¢ | $1.920M | 7.013M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 257534 | 27.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
28.0¢ | 53381 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 257534 | 0.275 |
6 | 237295 | 0.270 |
11 | 304313 | 0.265 |
8 | 601015 | 0.260 |
12 | 564992 | 0.255 |
Price($) | Vol. | No. |
---|---|---|
0.280 | 48329 | 3 |
0.285 | 137500 | 4 |
0.290 | 533385 | 13 |
0.295 | 867105 | 9 |
0.300 | 1129363 | 18 |
Last trade - 16.10pm 24/05/2024 (20 minute delay) ? |
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Last
27.5¢ |
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Change
-0.005 ( 3.51 %) |
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Open | High | Low | Volume | ||
27.5¢ | 28.0¢ | 26.5¢ | 2394553 | ||
Last updated 15.59pm 24/05/2024 ? |
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