SBM 0.00% 32.5¢ st barbara limited

Target lift to $1.80, page-5

  1. 10,469 Posts.
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    Mygalz

    Thanks for sharing

    Simply an amazing price target from them.

    I think MacBank are right about SBM being conservative in their 2016 guidance - am expecting Gwalia to deliver above the top of its forecast in terms of production and hence this should mean lower AISC and higher operating margin.

    I understand the Gwalia mine shaft could cost in the region of $100-120m and then there is some substantial money to be spent in the next 4 years at Simberi to enable them to process the sulphide ore into a concentrate for export once the easily accessible oxide ore has been depleted. Not sure what the processing upgrade would cost, but less than $100m is my guess. Once these capital items are completed we will have a long life mining operation at two sites, with Gwalia being super profitable.

    loki (hang on for the ride)
 
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17 111335 32.5¢
 

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33.0¢ 399568 23
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