SBM - St Barbara Limited

[noirua]

Re: SBM - St. Barbara Mines

Looking at the wobbly gold price and the markets acceptance of reducing U.S. interest rates, I've decided to reduce my holding in SBM. Will be patient with the rest as long-term prospects are very good.

 

[tradingforwealth]

Re: SBM - St. Barbara Mines

I think people are waiting on the fed's decision to cut rates, but many analysts from business news report and newspapers are expecting a rate cut of 1/2 point not the standard 1/4 point.

This should trigger a US dollar decline and hopefully an increased gold price!

 

[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.
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)

That's pretty much what has happened, although we also had a concurrent correcting/consolidating gold price. The sp will continue under pressure, possibly into the 60's until the pog stabilises again (ignoring a takeover or good announcement). Profits to be had in the 80's, now looking for re-entry conditions from overbought levels?. Support at around 72c or 65c?

 

[noirua]

Re: SBM - St. Barbara Mines

I think people are waiting on the fed's decision to cut rates, but many analysts from business news report and newspapers are expecting a rate cut of 1/2 point not the standard 1/4 point.

This should trigger a US dollar decline and hopefully an increased gold price!

The US interest rate decline may now be somewhat in the gold price already and it may well struggle from here. Other currencies have interest rate rise expectancies reversed now. UK will reduce rates Thursday BST by 0.25% or maybe 0.5% as tight money markets have sent the economy into sudden decline with property prices dropping.
The US Dollar may continue to strengthen if the Fed only drops interest rates by 0.25% and that includes the strong Euro and the Aussie.

 

[tradingforwealth]

Re: SBM - St. Barbara Mines

The US interest rate decline may now be somewhat in the gold price already and it may well struggle from here. Other currencies have interest rate rise expectancies reversed now. UK will reduce rates Thursday BST by 0.25% or maybe 0.5% as tight money markets have sent the economy into sudden decline with property prices dropping.
The US Dollar may continue to strengthen if the Fed only drops interest rates by 0.25% and that includes the strong Euro and the Aussie.

They got strong fundamentals they are constantly proving reserves to enable they can produce at the higher rate by sept quarter so in the next year SBM should provide a much higher share price.

 

[VViCKiD]

Re: SBM - St. Barbara Mines

Hey did any body participate in the share purchase plan ? If so have you received your shares yet ? I can't see my alotment in comsec. Is this the same for everyone else ?

 

[saichuen]

Re: SBM - St. Barbara Mines

I just got mine when I checked my CommSec account this morning again. 7937 in total. It wasn't there for the whole of yesterday.

By the way, the Fed just cut rates again. Let's hope the POG will follow with a favaourable response.

Happy trading!

 

[jammin]

Re: SBM - St. Barbara Mines

Hey did any body participate in the share purchase plan ? If so have you received your shares yet ? I can't see my alotment in comsec. Is this the same for everyone else ?

The SPP shares arrived overnight in my Westpac account. It had a most beneficial effect on my portfolio, finally back in the black.

 

[jammin]

Re: SBM - St. Barbara Mines

The Market depth looks as if 27 "stags" are lined up to sell at 70c and take a $500 to $750 quick profit.

 

[VViCKiD]

Re: SBM - St. Barbara Mines

SBM is part of the ASX200 now...
Shame the ASX 200 is going down the plug hole...
Hopefully things work out for us all .

 

[explod]

Re: SBM - St. Barbara Mines

That's pretty much what has happened, although we also had a concurrent correcting/consolidating gold price. The sp will continue under pressure, possibly into the 60's until the pog stabilises again (ignoring a takeover or good announcement). Profits to be had in the 80's, now looking for re-entry conditions from overbought levels?. Support at around 72c or 65c?

Support area confirmed. This is another oversold, reversal confirmed and time to go again.

Just my 2cents

 

[pixho]

Re: SBM - St. Barbara Mines

HI,

Just wanting some advice about rebuying into SBM.

I baught SBM stock @ 0.13c and sold out @ 0.30c.

I am looking to rebuy now at around the 0.70c mark, would this be a wise move, or do you think this stock has done its dash?

Regards,

Pixho.

 

[tradingforwealth]

Re: SBM - St. Barbara Mines

HI,

Just wanting some advice about rebuying into SBM.

I baught SBM stock @ 0.13c and sold out @ 0.30c.

I am looking to rebuy now at around the 0.70c mark, would this be a wise move, or do you think this stock has done its dash?

Regards,

Pixho.

Just remember pixho, the company has evolved so much from when you bought it at 13c and sold it at 30c. My bets are its going northwards from here when they start producing at midcap-sized company rates. My opinion only

 

[Uncle Festivus]

Re: SBM - St. Barbara Mines

An article on mine site.com about SBM potential.

http://www.minesite.com/nc/minews/singlenews/article/st-barbara-on-the-verge-of-a-major-revival.html

(Requires free subscription)

 

[Uncle Festivus]

Re: SBM - St. Barbara Mines

December Qtr report out, Tower Hill continues to impress -


Resources
• Total Mineral Resources have increased to 10.1 Moz, an increase of 20%
• Tower Hill Resource is 1.4Moz, 18 Mt @ 2.4 grams per tonne (g/t), with mineralization open at
depth and to north and south. Discovery costs of A$6/oz
• Nevoria Resource at Southern Cross substantially increased to 531,000 ounces, 4.6 Mt @ 3.6 g/t
• A revised Reserves statement is being prepared for the March Quarter 2008

Exploration
Recent outstanding drilling results include:
Leonora
• Tower Hill#
‐ 46m @ 4.3 g/t from 298m, 35m @ 4.6 g/t from 302m, and 19.6m @ 4.4 g/t from 183m
• Gwalia West Lode# – 4.6m @ 15.4g/t @ 513 mbs* , and 4.1m @ 12.0g/t @ 539mbs
* metres below surface (mbs)
Southern Cross
• Marvel Loch Underground# – 22.7m @ 8.9g/t @ 751 mbs; and 12.2m @16.2g/t @508 mbs
• Nevoria ‐ 39m @ 3.2 g/t from 150m, 6m @ 14.3 g/t from 134m and 5m @ 16.5 g/t from 218m
• Transvaal ‐ 8m @ 15.5 g/t from 40m, 10m @ 7.1 g/t from 89m and 4m @ 14.7 g/t from 108m
# Intersection lengths for Tower Hill, Gwalia and Marvel Loch are true width

Operations – Southern Cross
• Gold production for quarter of 39,734 ounces at cash operating costs of A$518/oz (US$461/oz)
• On target to meet full year production forecast of 170,000‐175,000 ounces with a revised cash
operating cost of A$525 – A$550 (US$459 ‐ US$481) per ounce

Development ‐ Leonora
• Hoover Decline at 945 mbs; and on schedule and on budget to reach top of reserves during the
March Quarter 2008
• Refurbishment of Gwalia Mill with capacity of 1.2 – 1.8Mt per annum on schedule and on
budget for commencement of gold production in the September Quarter 2008

 

[explod]

Re: SBM - St. Barbara Mines

Certainly expected this to firm but the volume and jump this morning, absent any announcement looks good for holders.

Volume delayed 20 odd minutes so volume of 88 mil not yet reflected in bar chart.

 

[Uncle Festivus]

Re: SBM - St. Barbara Mines

This might explain it Explod -

A number of international institutions comprising existing
and new shareholders have acquired an aggregate 7.9%
interest or 78.7 million shares of the Company on
29 January 2007.

The shares sold represent the balance held by Resource
Capital Funds II and III LP. As announced to the
Australian Stock Exchange on 11 January 2008, these
shares were released from voluntary escrow on 25 January
2008.

The shares were placed by Haywood Securities Ltd of
Canada at A$0.81 per share, which represents a premium
of 3.0% to the volume weighted average price for the last
thirty trading days.

The Company welcomes the new shareholders onto its
share register as it continues to expand and develop long
term Australian gold operations.

 

[Uncle Festivus]

Re: SBM - St. Barbara Mines

Looks like some of those recent buyers have decided to offload some. Either that or Chickens capper is back . 1.8m @ 83.5 sell order going through, slowly. 83c bidders happy to keep filling the depth!

 

[tradingforwealth]

Re: SBM - St. Barbara Mines

Chicken has made some great calls he started this thread and also the zfx one at $2, and some others can't remember from the top of my head.

I truly think the guy has retired..



I think SBM is down because of the fall in the US last night, there is always going to be sellers off loading because of this.

 

[explod]

Re: SBM - St. Barbara Mines

Chicken has made some great calls he started this thread and also the zfx one at $2, and some others can't remember from the top of my head.

I truly think the guy has retired..



I think SBM is down because of the fall in the US last night, there is always going to be sellers off loading because of this.

Well if he put all his doe in at 5cents I woulda retired too. But yep this is one of those bargains waiting for market confidence to come back to the gold sector IMHO.

This one actually is an old Rene Rivken pick back at 4 cents, followed it since but not all the time unfortunately.