Here`s a spreadsheet showing the SBM profit margin as the AUD...

Here`s a spreadsheet showing the SBM profit margin as the AUD falls. Few will disagree that the Aussie (and the POG) is going down, but especially the Aussie. I'm a assuming a worst case average of POG 1000 us/oz,
the Orange line is as they are today (same rates) note the profit is 34%. In any case with numbers like these (and provided they keep delivering the oz's) SBM is a very solid little earner, as Arthur would say.

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6	Column 7	Column 8	Column 9
0	SBM PROFIT	ye16
1	AUD	POG $US	POG $AUD	Consolidated AISC	PROFIT	MARGIN	EST PRODUCTION AVERAGE	EBITDA (EX new drilling)
2
3	0.74	1000	1,351	1007	344	25	350000	$120,522,973
4	0.73	1000	1,370	1007	363	26	350000	$127,002,055
5	0.72	1095	1,521	1007	514	34	350000	$179,841,667	TODAY
6	0.71	1000	1,408	1007	401	29	350000	$140,507,746
7	0.7	1000	1,429	1007	422	30	350000	$147,550,000
8	0.69	1000	1,449	1007	442	31	350000	$154,796,377
9	0.68	1000	1,471	1007	464	32	350000	$162,255,882
10	0.67	1000	1,493	1007	486	33	350000	$169,938,060
11	0.66	1000	1,515	1007	508	34	350000	$177,853,030
12	0.65	1000	1,538	1007	531	35	350000	$186,011,538
13	0.64	1000	1,563	1007	556	36	350000	$194,425,000
14	0.63	1000	1,587	1007	580	37	350000	$203,105,556
15	0.62	1000	1,613	1007	606	38	350000	$212,066,129
16	0.61	1000	1,639	1007	632	39	350000	$221,320,492
17	0.6	1000	1,667	1007	660	40	350000	$230,883,333
18	0.59	1000	1,695	1007	688	41	350000	$240,770,339
19	0.58	1000	1,724	1007	717	42	350000	$250,998,276
20	0.57	1000	1,754	1007	747	43	350000	$261,585,088
21	0.56	1000	1,786	1007	779	44	350000	$272,550,000
22	0.55	1000	1,818	1007	811	45	350000	$283,913,636
23	0.54	1000	1,852	1007	845	46	350000	$295,698,148
24	0.53	1000	1,887	1007	880	47	350000	$307,927,358
25	0.52	1000	1,923	1007	916	48	350000	$320,626,923
26	0.51	1000	1,961	1007	954	49	350000	$333,824,510
27	0.5	1000	2,000	1007	993	50	350000	$347,550,000