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
45.5¢ |
Change
-0.020(4.21%) |
Mkt cap ! $372.3M |
Open | High | Low | Value | Volume |
48.5¢ | 48.5¢ | 45.0¢ | $2.371M | 5.084M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 30000 | 45.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
46.0¢ | 143002 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
7 | 216900 | 0.450 |
6 | 551789 | 0.445 |
12 | 213226 | 0.440 |
5 | 107720 | 0.435 |
9 | 160992 | 0.430 |
Price($) | Vol. | No. |
---|---|---|
0.460 | 143002 | 4 |
0.465 | 198605 | 3 |
0.470 | 268389 | 5 |
0.475 | 187089 | 5 |
0.480 | 75000 | 1 |
Last trade - 16.10pm 28/10/2024 (20 minute delay) ? |
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