SBM - St Barbara Limited

[noirua]

Re: SBM - St. Barbara Mines

The easy way for SBM to raise funds is to sell off an interest in Gwalia Deeps. However, negotiating a value for the prospective mine could be more difficult than it seems.

 

[noirua]

Re: SBM - St. Barbara Mines

Well, SBM have gone for a placement of shares at 63 cents, to raise a net $73.4 million, to the Institutions:

http://www.asx.com.au/asxpdf/20071026/pdf/315ctncmy9w79t.pdf

There is also a share purchase plan for shareholders. Maximum $5,000 at 63 cents a share.

 

[noirua]

Re: SBM - St. Barbara Mines

The share purchase plan, $5,000 at 63 cents a share, is looking good as St Barbara power on to 73.5 cents.
Institutional confidence in taking up the placing and the gold price near US$800, is worth a or

 

[donovan74]

Re: SBM - St. Barbara Mines

Noirua,you saying SBM might be worth $1 - $2 ? (hope you're right). I see things looking far more brighter for us now.

 

[sam76]

Re: SBM - St. Barbara Mines

Chicken's not that far of his prediction of $1.

It's only his timing that needs work. (from memory he's out by about 16 months)

 

[Sean K]

Re: SBM - St. Barbara Mines

Noirua,you saying SBM might be worth $1 - $2 ? (hope you're right). I see things looking far more brighter for us now.

I don't think he's saying that at all. How do you come to that conclusion?

Chicken's not that far of his prediction of $1.

It's only his timing that needs work. (from memory he's out by about 16 months)

And $1.00 is still a fair way off. I haven't seen any analysis or justification from anyone for this going anywhere, except that it might keep going up if POG keeps going up, and the market doesn't fall over. Of course.

 

[tradingforwealth]

Re: SBM - St. Barbara Mines

Seems like the directors are willing to shell out their money to buy shares in SBM in between 70-73c, most recently Colin Wise at 72.67c.

Good Sign

 

[michael_selway]

Re: SBM - St. Barbara Mines

Seems like the directors are willing to shell out their money to buy shares in SBM in between 70-73c, most recently Colin Wise at 72.67c.

Good Sign

Good signs

Earnings and Dividends Forecast (cents per share)
2007 2008 2009 2010
EPS -0.3 -0.8 6.0 11.3
DPS 0.0 0.0 0.0 0.0

thx

MS

 

[Flying Fish]

Re: SBM - St. Barbara Mines

Great move today. Wonder why? Is it becoming a takeover target from perhaps newcrest. Any other reasons, or is it that POG is about to jump again. I would rreally like some feed back on this one thanks guys. It looks good

 

[The Mint Man]

Re: SBM - St. Barbara Mines

I think you will find this is the reason why Flying Fish, and as I said in the BDG thread, With POG and the run up to christmas this couldn't come at a better time.

Bendigo Mining
Limited
ASX Release 15 November 2007

Spectacular assays from high grade
Gill Reef​

The final assays have been received for the Gill reef from drilling completed on
three sections over a strike of 460 metres. Gill reef is one of five reefs
discovered on the Garden Gully line, close to current mine development. Best
assays include:
•0.9 metres at 4070 g/t gold
•6.2 metres at 57 g/t gold
•6.2 metres at 5.1 g/t gold
•1.3 metres at 55 g/t gold
Rod Hanson, Managing Director & CEO comment: “These exceptional assays
reinforce our high-grade visual estimate of Gill reef, with potential for some
bonanza zones with multi-ounce per tonne potential.
“Prior to these final assays we considered the reef to be around 10 g/t gold
(+/- 2 g/t). However, the calibre of these results indicate Gill to be at least a
10 – 15 g/t gold reef.
“I’m confident about the quality of Gill, however we need to take a
conservative step-by-step approach. We plan to complete some infill drilling in
January before commencing trial mining to be absolutely confident about Gill,
but so far the indicators are very good.”

See actual Ann for more, including the table the assays and grade range estimates for all intercepts.
heres a link to the whole thing http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00783332

Cheers

 

[uptrend]

Re: SBM - St. Barbara Mines

i remember reading Eureka Report about 1 month ago, where Charlie Aitken was recommending SBM and gave a detailed analysis, man Charlie Aitken has been spot on on few of his recommedation lately, he called FMG a $50 share when it was about $35, and NCM, OXR, BHP, WPL, the list goes on

 

[michael_selway]

Re: SBM - St. Barbara Mines

i remember reading Eureka Report about 1 month ago, where Charlie Aitken was recommending SBM and gave a detailed analysis, man Charlie Aitken has been spot on on few of his recommedation lately, he called FMG a $50 share when it was about $35, and NCM, OXR, BHP, WPL, the list goes on

Hi did he mention any others?

Thanks

MS

Earnings and Dividends Forecast (cents per share)
2007 2008 2009 2010
EPS -0.3 -0.8 6.0 11.3
DPS 0.0 0.0 0.0 0.0

 

[jammin]

Re: SBM - St. Barbara Mines

Great move today. Wonder why? I would really like some feed back on this one thanks guys. It looks good

I feel the Share Purchase Plan is having a positive impact on the share price, and will have until the closing day of the SPP.
My thinking goes along the following lines. With the issue price of the SPP being "the lesser of $0.63 and a 2.5% discount to the VWAP" the higher the SP in the days prior to the close date (29th Nov), the greater the take up of the SPP.
Hence, if one was cynical enough, and had just re-read "Reminiscences Of A Stock Operator"; you could imagine the SP being supported in such a way to make the SPP look like an offer you can't refuse.
If this was to actually occur and you were eligible for the SPP, you could play the SPP as follows; apply to take up your full $5,000 parcel whilst selling part or all of your current holdings in the lead up to the 29th Nov. This locks in profit on your current holdings if the SP does fall after the closing date and gives you $5K of shares at $0.63 ea (or lower if the SP plummets)

 

[transportable]

Re: SBM - St. Barbara Mines

i remember reading Eureka Report about 1 month ago, where Charlie Aitken was recommending SBM and gave a detailed analysis, man Charlie Aitken has been spot on on few of his recommedation lately, he called FMG a $50 share when it was about $35, and NCM, OXR, BHP, WPL, the list goes on

What is Eureka Report and where is it printed?
I'm a novice so humour me if this is a silly question please.
Cheers T

 

[uptrend]

Re: SBM - St. Barbara Mines

What is Eureka Report and where is it printed?
I'm a novice so humour me if this is a silly question please.
Cheers T

T, you can find the report at: www.EurekaReport.com.au you can get a trial subscription i think, it's a report started by Alan Kohler

Hi did he mention any others?

Thanks

MS

MS, he recently tipped LLC and KAR, but he's mainly bullish on resources

 

[Uncle Festivus]

Re: SBM - St. Barbara Mines

Hence, if one was cynical enough, and had just re-read "Reminiscences Of A Stock Operator"; you could imagine the SP being supported in such a way to make the SPP look like an offer you can't refuse.

I was thinking this also, and was going to leave it till the last minute to take up the offer. But, recent share price action has sort of left this idea in the dust so to speak, as the finish at 86c today blows out the margin to some 23c! That's nearly $2k profit for zip! (assuming the sp holds for 3 weeks?)

Also, SBM is starting to take on the look of a script supply deficit so it could be a genuine, full blown bullish buying frenzy happening. The Bid/Ask volume ratio is now 6:1. If the Au price of gold can hold or increase then there's every chance of a exponential blow off & correction, maybe coinciding with the commencement of trading of the new shares???

Then there's the possible BDG 'acquisition' to contemplate?

 

[The Mint Man]

Re: SBM - St. Barbara Mines

Then there's the possible BDG 'acquisition' to contemplate?

Do you think this would be more likely considering the good news coming from BDG today?
I think it would be on the agenda more so now than before maybe early next year?

Cheers

 

[Uncle Festivus]

Re: SBM - St. Barbara Mines

Do you think this would be more likely considering the good news coming from BDG today?
I think it would be on the agenda more so now than before maybe early next year?

Cheers

Who knows really? Sometimes I leave things to intuition? I just 'feel' SBM's foray onto the BDG register is well planned and has an ultimate goal. Consolidation in the Oz gold industry hasn't really started yet, there is well over 200 odd goldies still listed.

Also, this could be where some of the script has been getting soaked up -

 

[DionM]

Re: SBM - St. Barbara Mines

SPP closed yesterday, today the SP takes a wobble.

Early in the day I know, but will be interesting to see if it breaks out of it's recent trendline (sorry, don't have access to decent graphing app here at work).

I was debating myself whether to jump in on the SPP or not ... in the end I didn't as it just seemed like too much of a discount to be true ...

 

[michael_selway]

Re: SBM - St. Barbara Mines

T, you can find the report at: www.EurekaReport.com.au you can get a trial subscription i think, it's a report started by Alan Kohler




MS, he recently tipped LLC and KAR, but he's mainly bullish on resources

Ok Thanks

SBM fair value i think atm

Earnings and Dividends Forecast (cents per share)
2007 2008 2009 2010
EPS -0.4 -1.0 3.5 9.1
DPS 0.0 0.0 0.0 0.0

thx

MS