Bob Vassie as prior CEO of St Barabara is the common link of course yes.
I was a SBM shareholder for ~14 months on what appeared to be an undervalued Gold miner but thankfully sold out early enough on repeated quarterly/earnings miss and poor updates.
The assets are low quality, higher on the risk spectrum and prone to cost blowouts which was the final straw for me.
There was a reason I kept my RMS holding while disposing of SBM.......
Gwalia, the deepest mine in Australia has a risk of seismic activity and rockfalls, the extension was consistently delayed with CAPEX and OPEX cost increases never ending.
Capital discipline was poor, SBM over payed for Atlantic in desperation for additional oz with PNG rolling off/requiring CAPEX to access the sulfides and Gwalia a money pit as well as a Gold pit........
PNG has associated water discharge environmental issues and SBM didnt do their due diligence and/or under estimated environmental permitting issues with Atlantic gold/Moose river.
Bardoc was a better pick up. There is a price and value for every asset in the world but SBM deserves its heavy discount.
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