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
23.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $192.2M |
Open | High | Low | Value | Volume |
23.5¢ | 24.0¢ | 23.3¢ | $503.5K | 2.138M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 177724 | 23.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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24.0¢ | 1431266 | 21 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 75724 | 0.235 |
9 | 690081 | 0.230 |
16 | 649039 | 0.225 |
22 | 1012185 | 0.220 |
10 | 534151 | 0.215 |
Price($) | Vol. | No. |
---|---|---|
0.240 | 423557 | 10 |
0.245 | 341261 | 12 |
0.250 | 451768 | 11 |
0.255 | 276397 | 7 |
0.260 | 383150 | 8 |
Last trade - 16.10pm 31/05/2024 (20 minute delay) ? |
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Last
24.0¢ |
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Change
0.000 ( 2.74 %) |
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Open | High | Low | Volume | ||
24.0¢ | 24.0¢ | 23.3¢ | 802243 | ||
Last updated 15.59pm 31/05/2024 ? |
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