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
20.0¢ |
Change
-0.010(4.76%) |
Mkt cap ! $163.5M |
Open | High | Low | Value | Volume |
20.5¢ | 20.5¢ | 19.3¢ | $1.013M | 5.117M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
10 | 1149933 | 19.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
20.0¢ | 336279 | 10 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
10 | 1149933 | 0.195 |
30 | 1525947 | 0.190 |
15 | 652974 | 0.185 |
17 | 689557 | 0.180 |
12 | 609257 | 0.175 |
Price($) | Vol. | No. |
---|---|---|
0.200 | 336279 | 10 |
0.205 | 1036156 | 14 |
0.210 | 967743 | 24 |
0.215 | 883004 | 9 |
0.220 | 671913 | 9 |
Last trade - 16.10pm 24/06/2024 (20 minute delay) ? |
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