SBM 2.44% 21.0¢ st barbara limited

sp is low because of a lot of misinformation

  1. 8,033 Posts.
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    Reading posters on other threads
    I can't believe what they are thinking

    1. They believe all SBM production is hedged at $1390
    Fact. Less than half production is hedged
    Fact. Hedge finishes in November

    They believe Simberi operates at $2000 C1 costs
    Fact. during the december quarter the mining was shut down
    Due to upgrading the plant to 3.2 mtpa plant
    Fact. In 2011 Simberi was producing around 80k oz at less
    than $700 an oz production costs and upgrading the plant was expected to produce more than 100k oz

    They believe SBM is operating at a loss
    Fact. In the December quarter capex on Simberi and gold ridge
    Was $9 million
    Fact POG for the quarter was $1390 this quarter looks like $1450
    Fact. Loan payments for red kite loan are paid biannually
    Meaning no loan repayment this quater
    Fact. With the mine upgrade at Simberi and work done at Gold Ridge
    Production ahold be over 100k oz

    Operation update is March 31 st
    If posters on HC believe this this misimformation then I imagine
    Most others believe it as well
    This can only really come out in the next quarterly
    If POG continues SP should rocket

    Imoo
 
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