re: Ann: ZSP: S&P DJ Indices Announces Decemb...
The 25.5 cent dam wall has finally been breached.
The big buyer of 7million shares (or more) has got their fill as the number of sellers overwhelmed the buyers on this latest announcement.
SBM could go the way of PRU (which has also lost its ASX200 status today) and fall to 21.5 cents.
It looks like the PNG govnuts still have not given SBM all the required approvals needed for their operations to be upgraded to 3.5m tpa by the end of 2013.
SBM is in a better position than PRU because it has one larger mine that is lower cost to help offset its higher cost mines and it is partly hedged. Also, the AUD may fall further relative to the USD.
loki
SBM Price at posting:
25.2¢ Sentiment: None Disclosure: Not Held
