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
23.0¢ |
Change
-0.050(17.9%) |
Mkt cap ! $190.1M |
Open | High | Low | Value | Volume |
25.0¢ | 25.0¢ | 22.0¢ | $6.116M | 26.08M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
31 | 1265257 | 23.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
23.5¢ | 1074794 | 43 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
31 | 1267200 | 0.230 |
31 | 1370979 | 0.225 |
41 | 3828678 | 0.220 |
22 | 1049900 | 0.215 |
14 | 661083 | 0.210 |
Price($) | Vol. | No. |
---|---|---|
0.235 | 1134854 | 43 |
0.240 | 1005654 | 20 |
0.245 | 696766 | 16 |
0.250 | 589656 | 12 |
0.255 | 240918 | 9 |
Last trade - 15.21pm 27/05/2024 (20 minute delay) ? |
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Last
23.3¢ |
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Change
-0.050 ( 16.0 %) |
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Open | High | Low | Volume | ||
25.0¢ | 25.0¢ | 22.3¢ | 9322775 | ||
Last updated 15.42pm 27/05/2024 ? |
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