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
25.0¢ |
Change
0.015(6.38%) |
Mkt cap ! $204.4M |
Open | High | Low | Value | Volume |
24.0¢ | 25.3¢ | 23.5¢ | $2.293M | 9.308M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 185654 | 24.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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25.5¢ | 508318 | 14 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 62007 | 0.245 |
7 | 196674 | 0.240 |
8 | 548225 | 0.235 |
7 | 244800 | 0.230 |
10 | 678387 | 0.225 |
Price($) | Vol. | No. |
---|---|---|
0.255 | 422413 | 9 |
0.260 | 141150 | 6 |
0.265 | 106550 | 3 |
0.270 | 219639 | 6 |
0.275 | 152200 | 4 |
Last trade - 16.10pm 07/06/2024 (20 minute delay) ? |
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Last
25.0¢ |
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Change
0.015 ( 6.34 %) |
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Open | High | Low | Volume | ||
24.0¢ | 25.3¢ | 24.0¢ | 3082585 | ||
Last updated 15.59pm 07/06/2024 ? |
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