SBM - St Barbara Limited

[noirua]

Re: SBM - St. Barbara Mines

Noirua, Are you concerned that SBM are still $50,000,000 short?

Also, do you know if they are still buying back their own shares?

There are too many unanswered questions surrounding SBM at the moment, but I agree the future looks bright.

Hi sam76, Its been almost a practise of SBM to start buybacks and then new plans mean they fizzle out.

I'll look at this $50 million short more closely.

 

[noirua]

Re: SBM - St. Barbara Mines

Noirua, Are you concerned that SBM are still $50,000,000 short?

Also, do you know if they are still buying back their own shares?

There are too many unanswered questions surrounding SBM at the moment, but I agree the future looks bright.

HI again sam76, Yes, you have a very good point on expenditure with the present credit-crunch conditions.

SBM are set to spend $110 million in 2007/2008 on pre-production capital expenditure on Gwalia Deeps. They had $95 million in the bank as of June 30 and mention they are discussing new Banking facilities for further loans.

SBM made a $20.7 million loss, if asset sales are stripped away, and about $2 million loss with them.

Gwalia is being developed too plan and that includes expenditure, and SBM have sale options to cover any falls in the Gold price.

Everything looks set fair and despite the obvious risks in developing a very deep mine, there looks to be great hopes surrounding St Barbara.

 

[Uncle Festivus]

Re: SBM - St. Barbara Mines

Party time! But only just back to where we were about 2 weeks ago. Re-rating coming up?

Newly discovered high grade mineralisation at Tower Hill,

2km from the Gwalia mill
True width intersections of 40m@6.0g/t and 30m@7.2g/t at depths of 250 300m
Potential for open pit and underground mining
Studies to look at resource development and expanding Gwalia mill

 

[Enoch]

Re: SBM - St. Barbara Mines

Been looking at these for a while i bought a big chunk of these when the market tanked.

Got to love the following comment from the recent announcement.

"The results suggest not only an opportunity for an open pit cut back but also significant potential for underground mining. The mineralisation is open at death and both to the north and south".

 

[noirua]

Re: SBM - St. Barbara Mines

With the gold price rising over the $700 an ounce level and a closing price the night before of 53.5c for SBM, everything looks set fair for the week ahead. Have a good weekend and look forward to Monday.

 

[noirua]

Re: SBM - St. Barbara Mines

St Barbara are continuing their new found strength as they hit 55 cents this morning. The Tower Hill announcement, a week or so ago, was not enough to figure in this sudden recovery.

The world record for a flight by a chicken is 13 seconds.

 

[prawn_86]

Re: SBM - St. Barbara Mines

will be interesting to see if they can break the 60c mark and hoild this time.

i wouldnt bet on it though.

my father has made a killing trading these over a shortish time period. Buy at 50c sell anywhere above 60c. makes me think that its the sort of thing i should do rather than buy and hold lol

 

[noirua]

Re: SBM - St. Barbara Mines

SBM have reported further strong intersections at Tower Hill, Leonora and good results at Nevoria and Bronco East, at Southern Cross.

 

[Uncle Festivus]

Re: SBM - St. Barbara Mines

St Barbara (SBM)
Goldman Sachs JB Were
Neutral recommendation
12-month price target of 56c
THE Goldman metals and mining team couldn't have been more neutral about St Barbara when it noted last week that "we see both positive and negative factors in the coming 12 months for SBM". But the team admits that, if it was to ever fall off the fence, they would probably be on the more positive side. St Barbara's key asset is the old Sons of Gwalia company-buster, Gwalia Deeps. The project, according to Goldman's forecasts, could add 200,000oz to St Barbara's production profile annually over possibly 20 years when (and if) the miner can reach the deep orebody by March. Obviously there is a big risk that St Barbara will fall behind in time and on budget given that drive development totals some 10km. So St Barbara hopes to define enough surface reserves at its Southern Cross and Leonora tenements.

 

[noirua]

Re: SBM - St. Barbara Mines

St Barbara (SBM)
Goldman Sachs JB Were
Neutral recommendation
12-month price target of 56c
THE Goldman metals and mining team couldn't have been more neutral about St Barbara when it noted last week that "we see both positive and negative factors in the coming 12 months for SBM". But the team admits that, if it was to ever fall off the fence, they would probably be on the more positive side. St Barbara's key asset is the old Sons of Gwalia company-buster, Gwalia Deeps. The project, according to Goldman's forecasts, could add 200,000oz to St Barbara's production profile annually over possibly 20 years when (and if) the miner can reach the deep orebody by March. Obviously there is a big risk that St Barbara will fall behind in time and on budget given that drive development totals some 10km. So St Barbara hopes to define enough surface reserves at its Southern Cross and Leonora tenements.

A very good article as it shows the "company buster" comments on Gwalia Deeps. Sons of Gwalia was brought down by selling gold forward at low prices, failing to produce, and needing to buy gold at high prices to cover contracts to supply at lower prices.
A great Aussie Gold Company went bust due to seriously bad judgements by the Directors.

SBM have also sold gold on forward contracts, the prices look good at the moment but, there is risk.

 

[Enoch]

Re: SBM - St. Barbara Mines

A very good article as it shows the "company buster" comments on Gwalia Deeps. Sons of Gwalia was brought down by selling gold forward at low prices, failing to produce, and needing to buy gold at high prices to cover contracts to supply at lower prices.
A great Aussie Gold Company went bust due to seriously bad judgements by the Directors.

SBM have also sold gold on forward contracts, the prices look good at the moment but, there is risk.

I rang the company today and was told they are under no obligation to deliver any Gold as Sons of Gwalia and Croesus were.

In addition the fact they have the resources in the reserve category should ensure they do not fall in the same traps as BMA and Bendigo.

 

[michael_selway]

Re: SBM - St. Barbara Mines

A very good article as it shows the "company buster" comments on Gwalia Deeps. Sons of Gwalia was brought down by selling gold forward at low prices, failing to produce, and needing to buy gold at high prices to cover contracts to supply at lower prices.
A great Aussie Gold Company went bust due to seriously bad judgements by the Directors.

SBM have also sold gold on forward contracts, the prices look good at the moment but, there is risk.

Hi do you know what the mine life of SBM is?

Earnings and Dividends Forecast (cents per share)
2007 2008 2009 2010
EPS -0.3 -1.4 4.5 8.2
DPS 0.0 0.0 0.0 0.

thx

MS

 

[noirua]

Re: SBM - St. Barbara Mines

Hi do you know what the mine life of SBM is?
thx
MS

Hi m_s, You will find 30 minutes of a report, "Exploration Driven Growth" by Mr Peter Thompson, GM Exploration, that outlines the position of all the mines of St Barbara Ltd., - http://www.brr.com.au/event/SBM/1708/23655

 

[Enoch]

Re: SBM - St. Barbara Mines

Hi Noirua,

Thanks for the presentation.

Informative to say the least.

They also state in the presentation and as mentioned in an earlier post that there are no contracts for delivery as was the case with SOG and CRS.

Could be good times ahead if management continue achieving what they say they will achieve.

They have done so to date.

Regards
Enoch

 

[noirua]

Re: SBM - St. Barbara Mines

Hi Noirua,

Thanks for the presentation.

Informative to say the least.

They also state in the presentation and as mentioned in an earlier post that there are no contracts for delivery as was the case with SOG and CRS.

Could be good times ahead if management continue achieving what they say they will achieve.

They have done so to date.

Regards
Enoch

Hi Enoch, My apologies, concerning contracts for delivery. I confused the payments made to ensure minimum gold prices with contracts for delivery - cheers

 

[Sean K]

Re: SBM - St. Barbara Mines

With such a protracted consolidation between support and resistance, there'd have to be a strong possibility of this coiling wind up to produce a significant breakout. Eventually.....

Watching with interest for attack on 65 cents again. And probably again....

 

[Uncle Festivus]

Re: SBM - St. Barbara Mines

Attack looks to be under way Kennas, up 4c to 62c in early trade, not sure if it can keep up the momentum, but someone is sure giving it a good go. Watching the trades suggests someone has an order to fill, at any price by the looks? Substantial barrier at 62, but if it breaks well....

 

[chicken]

Re: SBM - St. Barbara Mines

Time to get back into SBM...with gold rising SBM might go as high as 64.5 cents....its been going sideways long enough...as Gold is going for a run so should SBM...see what ED will come up with....

 

[Sean K]

Re: SBM - St. Barbara Mines

Rapidly approaching 65 cents. Will it fail again! I hope it runs through for long termers....but this is the Great Wall of China. Will be a very significant break if it makes it. And holds above.

 

[ta2693]

Re: SBM - St. Barbara Mines

I feel the great wall is not very steady. and possibly be break out.
The vol is 7.586m at 3:00pm. There is still one hour left. It is very likely the vol will come to 10m. no need further good news, the momentum alone stand a good chance to push the great wall down.