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
22.0¢ |
Change
-0.010(4.35%) |
Mkt cap ! $179.9M |
Open | High | Low | Value | Volume |
22.5¢ | 23.0¢ | 22.0¢ | $563.9K | 2.539M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
23 | 889608 | 22.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
22.5¢ | 49231 | 8 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
17 | 535155 | 0.220 |
16 | 727127 | 0.215 |
23 | 885267 | 0.210 |
7 | 475988 | 0.205 |
28 | 793999 | 0.200 |
Price($) | Vol. | No. |
---|---|---|
0.230 | 245483 | 7 |
0.235 | 305000 | 3 |
0.240 | 384527 | 10 |
0.245 | 338395 | 11 |
0.250 | 452477 | 15 |
Last trade - 16.10pm 14/06/2024 (20 minute delay) ? |
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Last
22.0¢ |
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Change
-0.010 ( 3.04 %) |
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Open | High | Low | Volume | ||
22.0¢ | 22.5¢ | 22.0¢ | 1321763 | ||
Last updated 15.59pm 14/06/2024 ? |
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