I would think their AISC costs are going to rise because the mine is now getting impractically deep and the crusher has for some time run only 5/7 days due to delay in bringing the ore to the surface. The cutting of a massive vertical shaft is being mooted to workaround the ever-lengthening extraction delays but it's unconventional and projected to cost over $100Million, not to mention any impedance to existing operations.
SBM had a legendary run and it's been managed brilliantly but the SP is not an endless pot of gold and it's probably still a bit overvalued despite this pullback. Just over a year ago a senior member of SBM told me their estimate of a fair price would be about $1.80. (It was about 50c at the time). It turned out they low-balled it but that ~$3.60 high really amazed me and I thought it smacked of unfounded exuberance.
Dumped? But why...?, page-11
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Last
34.0¢ |
Change
0.005(1.49%) |
Mkt cap ! $233.2M | |||
| Open | High | Low | Value | Volume |
| 33.5¢ | 34.5¢ | 33.5¢ | $678.5K | 1.991M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 131915 | 34.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 34.5¢ | 327657 | 15 |
View Market Depth
| Last trade - 16.10pm 29/11/2024 (20 minute delay) ? |
| SBM (ASX) Chart |
