SBM - St Barbara Limited

[Agentm]

Re: SBM - St. Barbara Mines

perhaps the directors have something they are real keen on, its obvious they are keen on the gwalia mine. things are happening there ahead of schedule which usually points to good things..

 

[fleathedog]

Re: SBM - St. Barbara Mines

I'm a holder from 13 cents and am very happy to continue. Sold a small packet at above 70 cents so this owes me nothing

Did a revisit a week or so ago and think that there is still plenty of upside. The Southern Cross are producing some very handy cashflows, they have $59m in the bank and a $13m odd shareholding in Bendigo.

If they can prove up some of the Southern Cross resources and get Gwalia deeps happening SBM will get over $1 IMO. Another gold rally could add quite a bit more than that.

Gwalia feasability is due for consideration by the board in Feb, so notwithstanding POG moves or news on the Southern
Cross mine (good or otherwise!) I can't see the share price doing anything for at least a few weeks.

 

[rub92me]

Re: SBM - St. Barbara Mines

Good article. That helps to explain the slide. Why would anyone buy a 'troubled' company from it's own industry then not push to at least sit on the board? Don't seem to be rushing to meet the management team either. Weird. I would have thought you would want to put your own knowledge and expertise to work (and quickly) to get the company going again... unless they bought in for some other reason. And throwing up a huge production target only to massively underdeliver is an interesting tactic! What are these guys doing?

Well, I don't think the article helps to explain anything. This was reported a week ago. The company actually overdelivered on their target. The 1 million ounces target is for 2010. Ambitious? Sure. But they haven't underdelivered yet...

 

[HRL]

Re: SBM - St. Barbara Mines

172k to 1m in three years is a decent hike. If they can get Gwalia going by Q1 '08 as planned and additional resources through aquisitions it's possible. Plenty of positive exploration and some new licenses there also. Was a bit quick with my comments on Bendigo. Didn't realise they only did the deal two weeks ago. Perhaps production capacity was a consideration for SBM. Looks like BDG have more ability to process than they have resources to put through their plant... a 600k tonne pa. fully operational plant. Could be a good fit if SBM find they have loads of resource and BDG have excess production capacity.

 

[HRL]

Re: SBM - St. Barbara Mines

Quick comparison with Lihir. LHG produced 650k oz this past year and estimate 800-830k oz for next year. If SBM can get to 1m oz by 2010 they deserve a pat on the back. I hope they can and am starting to like these guys but want to know more and I can't find anything about their production facilities. LHG's mills had a throughput of 4.3m tonnes to produce their 650k oz. How are SBM equiped... anyone know? I might have misssed something but their website and reports talk mostly of what they are outputing and what they can produce but not much about how they will do it.

 

[Sean K]

Re: SBM - St. Barbara Mines

Well, I don't think the article helps to explain anything. This was reported a week ago. The company actually overdelivered on their target. The 1 million ounces target is for 2010. Ambitious? Sure. But they haven't underdelivered yet...

I would call it a little ambitious since they only have about 7m oz in reserves atm. They ´ll have to buy into some serious deposits to ramp up to this level. Even if they take BDG we don ´t know what ´s really there. So, acquisition of current miners or those ramping up to production is probably the only way IMO.

 

[chicken]

Re: SBM - St. Barbara Mines

I would call it a little ambitious since they only have about 7m oz in reserves atm. They ´ll have to buy into some serious deposits to ramp up to this level. Even if they take BDG we don ´t know what ´s really there. So, acquisition of current miners or those ramping up to production is probably the only way IMO.

Kennas...tell me, has not ED delivered as promised and what I ,or, you call is immarterial...SBM has one of the best ground in Australia for GOLD and looks like the Sullivan which has a 18km strike length for NICKEL...SBM maybe ambitious but so far the company has delivered...if you wish to show us how you came upon your opinion please post..as its only an opinion nothing else...see their lates report..where the Sullivan was mentioned...as SBM will also gear up for Nickel mining..its all there to read..and not an opinion

 

[Agentm]

Re: SBM - St. Barbara Mines

i suspect you are about to find out what ed is up to today!!

 

[Dr Doom]

Re: SBM - St. Barbara Mines

Do you have a special crystal ball Agentm? An aquisition maybe, as the sp is tanking as we speak.

 

[redandgreen]

Re: SBM - St. Barbara Mines

What are the implications of today's court ruling against sons of Gwalia for SBM?
Could this be one of the reasons for SP decline?? Watch out the same thing might happen with BDG.

 

[HRL]

Re: SBM - St. Barbara Mines

Hmmm, this is a big call to allow shareholders the same status as creditors against a failed company and way bigger than just Sons of Gwalia.

Anyway, didn't SBM only purchase the assets from the gold division rather than the entire company? If so then the $38m SBM paid to Sons of Gwalia should have been used to pay debts to creditors and therefore this ruling shouldn't have any impact on SBM at all. If SBM did actually buy the whole company then thats another story...

 

[chicken]

Re: SBM - St. Barbara Mines

Hmmm, this is a big call to allow shareholders the same status as creditors against a failed company and way bigger than just Sons of Gwalia.

Anyway, didn't SBM only purchase the assets from the gold division rather than the entire company? If so then the $38m SBM paid to Sons of Gwalia should have been used to pay debts to creditors and therefore this ruling shouldn't have any impact on SBM at all. If SBM did actually buy the whole company then thats another story...

SBM...purchased the GOLD assets NOT THE company....court ruling DOES NOT affect SBM......

 

[Sodapop]

Re: SBM - St. Barbara Mines

THANKS for CLEARING that UP! Chook...

 

[chicken]

Re: SBM - St. Barbara Mines

What I quoted what ED said was in THE BENDINGO ADVERTISER 30th January 2007 and the headline said.....SHOW US THE GOLD this stock is getting ready for another run as long as GOLD is heading in the right direction...

 

[wayneL]

Re: SBM - St. Barbara Mines

Gold looks good so long as the fed refuses to address inflation (real inflation, not the fraudulent rubbish figures they expect us to believe)

In USD at least.

 

[sunboy]

Re: SBM - St. Barbara Mines

Noone knows why this stock stays so cheap. There are many gold explorer which gain no profit and have stock prices of 2 $. Peope are so stupid, if they can ´t wait for the assured hype of barbara. Compare the profits, gold resources and stock prices with other companies and you will see what will be sure:
This will be the year of barbara.

 

[Kauri]

Re: SBM - St. Barbara Mines

As much as it pains me, I'm with the chook, I think SBM may be ripe for a turn around... :hide:

 

[HRL]

Re: SBM - St. Barbara Mines

I'm on the train now too. Good reserves, no debt, plenty of cash in the bank + investments, promising projects, aggressive business plan and the switched on, ass kicking Mr Ed in the big chair. SBM looks good to me and I also can't see why they are at 50c. Still have a question mark over their processing ability though. LHG are further down the road with huge reserves, higher production, deeper pockets and the same ambition to get production past 1m oz pa... only they are about to stump up $500m for a mill to realise that ambition. What are SBM doing?

 

[Agentm]

Re: SBM - St. Barbara Mines

HRL your on the money..

exceptional management and a clear idea of progression.

sometimes people are not able to see the trees because of the woods..

SBM clearly gave a warning shot accross the bows of bendigo yesterday, time to see what the players are up to i think..

i have not invested in this venture but if i had to invest in a gold stock this ones an opportunity and a half alright!!

 

[noirua]

Re: SBM - St. Barbara Mines

We have to just accept that SBM have been reversed into the sidings. Recent news has not raised confidence and the stock may not get back to 60 cents for quite a while.