SBM has 2 gold mines. One is getting too deep to extract successfully (the crusher can only run 5 days out of 7 IIRC) and the other is a marginal producer in PNG they'd like to sell. The Leonora mine has good grades (12-17g/T) but there's no future for SBM unless they buy another mine. EVN already bit that bullet some time ago buying a few mines from Glencore and if you read their report today you'll see the results. Now EVN paid a hefty shareprice fall for doing so because all people saw was DEBT on the books but it had to be done. Half that debt is already gone. SBM doesn't have any debt. But neither does it have much future.
SBM Slammed Today, page-7
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Last
35.0¢ |
Change
0.005(1.45%) |
Mkt cap ! $233.2M | |||
| Open | High | Low | Value | Volume |
| 35.5¢ | 35.5¢ | 34.3¢ | $1.551M | 4.447M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 124478 | 34.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 35.0¢ | 272870 | 12 |
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| Last trade - 16.10pm 25/11/2024 (20 minute delay) ? |
| SBM (ASX) Chart |
