I understand all the pains from posters because i bought at 42c and sold at 20c.
This company has proven gold deposits, that's the only +ve, and to be frank they dont want (or dont know) to increase productivity or reduce costs. All they want is gold to go beyond 1200 USD (1500 AUD) because of inflation pressure and waiting for a takeover from Newcrest or lihir or some overseas buyer with a 50% profit. Till then they will do capital raising and run the show.
But the question is who will give them cash if they keep on burning. This one is still falling knife. There are very good gold stocks available in the market. Go and find out. Pls make your own decisions.
SBM Price at posting:
17.9¢ Sentiment: None Disclosure: Not Held
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