SBM - St Barbara Limited

[explod]

Re: SBM - St. Barbara Mines

The seller of the last week has now gone away. Just hit a high of .84

how sweet it is.

Cheers explod

 

[Uncle Festivus]

Re: SBM - St. Barbara Mines

An interesting period ahead for SBM with some announcements due soon, and a resolution of the current 'drift' in the sp on very low volumes maybe? Has anyone else noticed the 3 o'clock rush lately - sp drifts all day then buyers top up right on 3pm or so? Accumulation?

 

[Santob]

Re: SBM - St. Barbara Mines

Look at the number of buys in 1228 and 1229 quantities yesterday. Are these done by so called bots? Anyway, here's hoping for something good.

 

[breakeven]

Re: SBM - St. Barbara Mines

Look at the number of buys in 1228 and 1229 quantities yesterday. Are these done by so called bots? Anyway, here's hoping for something good.

Another increase in Substantial Holdings today. This time for M&G Investments Managements Ltd. M&G appear an investment fund owned by Prudential and operating mainly out of Europe. When I reseached SBM one of the things that attracted me was the number of increased holdings by large instos eg JP Morgan, AMP and Merryl (all in Feb this year). Top 20 now hold over 70% of SBM. So someone thinks its good buying!

 

[Uncle Festivus]

Re: SBM - St. Barbara Mines

A 'clean' share register would make it a lot easier for a takeover, at this 'consolidating' level of share price. Seems to have found a base around 75-80c, even with the gold price slowly appreciating, so somethings gotta give here sooner or later?

 

[shaunm]

Re: SBM - St. Barbara Mines

Do any holders have an opinion as to why this has been dropping consistently over the last e few days?

 

[Sean K]

Re: SBM - St. Barbara Mines

Do any holders have an opinion as to why this has been dropping consistently over the last e few days?

Find a developer/producer who is going up...eeeek! Goldies have been smashed the past few weeks. Check the NCM and LGL charts...

 

[Ashsaege]

Re: SBM - St. Barbara Mines

Do any holders have an opinion as to why this has been dropping consistently over the last e few days?

Apparently there was an article in the Financial Review yesterday saying that there are holders who are shorting around 10% of SBM stock. I will have a look at it tonight and post it on here.

 

[explod]

Re: SBM - St. Barbara Mines

Apparently there was an article in the Financial Review yesterday saying that there are holders who are shorting around 10% of SBM stock. I will have a look at it tonight and post it on here.

Yes, it occurred to me today as I got back in at .69, and whilst waiting for the fill noticed a string of buys at about 470 share parcels. They try to paint a perception that the buy side are small fry and the sellers are large when in fact the situation is the oposite. Seems to be falling over though, it is now looking oversold and will rally considerably from here as the gold price begins to firm.

I think upside news is due as well.

 

[shaunm]

Re: SBM - St. Barbara Mines

Apparently there was an article in the Financial Review yesterday saying that there are holders who are shorting around 10% of SBM stock. I will have a look at it tonight and post it on here.

I have to admit I am completely in the dark as to what "shorting" really is, can someone school me please?

 

[explod]

Re: SBM - St. Barbara Mines

I have to admit I am completely in the dark as to what "shorting" really is, can someone school me please?

Yep, one decides a stock is going to drop, lets say SBM which some time back was .90 cents, borrows 10,000 from Stock Broker, sells the 10,000 shares at the .90 cent price, whatches price fall to .70 cents, buys back the 10,000 shares and gives them back to the broker and pockets the profit. Of course if the shares were to rise then the hirer (short position) can lose big time as well.

I think there is some argument that this practice in some types of trading should be stopped. I am not into it myself as I can find plenty of opportunities long.

 

[shaunm]

Re: SBM - St. Barbara Mines

OK Thanks.
So I guess there are an arsenal of dirty tricks they can play to help the share price drop and make the profit; basically market manipulation.

 

[prawn_86]

Re: SBM - St. Barbara Mines

OK Thanks.
So I guess there are an arsenal of dirty tricks they can play to help the share price drop and make the profit; basically market manipulation.

Does that mean when buyers push the price up it is also market manipulation? :

One has to remember that shorting has no more downward pressure on a stock than going long has upward pressure...

 

[explod]

Re: SBM - St. Barbara Mines

OK Thanks.
So I guess there are an arsenal of dirty tricks they can play to help the share price drop and make the profit; basically market manipulation.

Yep, just look at the last 10 trades as we speak, someone is working at it big time and the regulators ought to be looking at such displays in my view.

ASX Code: (Search for ASX Code)


All Ordinaries ASX Time Market Status Legend
5,666.7 5.9 03:18 pm, 30 April 2008 Normal Rise Fall

St Barbara Limited (SBM)
Date Time Price ($) Quantity Value ($) Conditions
30-04-2008 03:17 PM $0.695 1221 $848.595
30-04-2008 03:17 PM $0.695 1221 $848.595
30-04-2008 03:14 PM $0.695 1220 $847.900
30-04-2008 03:14 PM $0.695 1221 $848.595
30-04-2008 03:12 PM $0.690 6305 $4,350.450
30-04-2008 03:12 PM $0.690 992 $684.480
30-04-2008 03:12 PM $0.690 470 $324.300
30-04-2008 03:12 PM $0.690 470 $324.300
30-04-2008 03:12 PM $0.690 471 $324.990
30-04-2008 03:12 PM $0.690 470 $324.300

 

[Uncle Festivus]

Re: SBM - St. Barbara Mines

Does that mean when buyers push the price up it is also market manipulation? :

One has to remember that shorting has no more downward pressure on a stock than going long has upward pressure...

Without re hashing the shorting thread, I think a shortable stock is much more prone to downward pressure, ie a long only stock can usually be margined as well so it has an upward bias, all other things being equal. The ability to short on margin usually exacerbates downward pressure. There have been many a time I would have liked to short but the stock was long only, so what would have been my selling pressure does not have any affect so you are left with the genuine long holders selling to create downward pressure, which may or may not happen, so the bias is up until other forces dictate selling?

Yep, just look at the last 10 trades as we speak, someone is working at it big time and the regulators ought to be looking at such displays in my view.

ASX Code: (Search for ASX Code)


All Ordinaries ASX Time Market Status Legend
5,666.7 5.9 03:18 pm, 30 April 2008 Normal Rise Fall

St Barbara Limited (SBM)
Date Time Price ($) Quantity Value ($) Conditions
30-04-2008 03:17 PM $0.695 1221 $848.595
30-04-2008 03:17 PM $0.695 1221 $848.595
30-04-2008 03:14 PM $0.695 1220 $847.900
30-04-2008 03:14 PM $0.695 1221 $848.595
30-04-2008 03:12 PM $0.690 6305 $4,350.450
30-04-2008 03:12 PM $0.690 992 $684.480
30-04-2008 03:12 PM $0.690 470 $324.300
30-04-2008 03:12 PM $0.690 470 $324.300
30-04-2008 03:12 PM $0.690 471 $324.990
30-04-2008 03:12 PM $0.690 470 $324.300

Explod, not sure if it's much to be concerned about as when companies are admitted to an index sector eg ASX200 then all the hard work is done by computers. They tell the puter how much they need to buy/sell and it 'feeds' the orders out. At least that is how I've been told it works.

 

[Ashsaege]

Re: SBM - St. Barbara Mines

Yes, it occurred to me today as I got back in at .69, and whilst waiting for the fill noticed a string of buys at about 470 share parcels. They try to paint a perception that the buy side are small fry and the sellers are large when in fact the situation is the oposite. Seems to be falling over though, it is now looking oversold and will rally considerably from here as the gold price begins to firm.

I think upside news is due as well.

I've topped up today. Im hoping to see a decent rally and decent news soon!

Explod would you prefer a stock's SP to go down from people shorting it (and possibly welcome it) than bad company announcements?

 

[56gsa]

Re: SBM - St. Barbara Mines

Apparently there was an article in the Financial Review yesterday saying that there are holders who are shorting around 10% of SBM stock. I will have a look at it tonight and post it on here.

ashsaege - did you ever find this article... whats your thinking on SBM? Whats the decent news you're expecting?

I sold a few around 80 but still hold some - seems to be at a critical juncture now breaking through 200mda and testing long-term support at 60-64? RSI is still respecting downtrend but has gone below 30 and this usually signals a bit of a rally?

 

[Ashsaege]

Re: SBM - St. Barbara Mines

ashsaege - did you ever find this article... whats your thinking on SBM? Whats the decent news you're expecting?

The accountant from work pinched the Financial Review, and by the time he brought it back a few people on here worked it out anyways. But there was a list of about 10 companies who had holders shorting stock... OXR was one from memory.

I agree with you about the RSI and a rally being due, i believe it is a good time to buy and accumulate now. Though the price of gold isn't doing any favors for the short term!

Explod was expecting some upside news soon

 

[explod]

Re: SBM - St. Barbara Mines

The accountant from work pinched the Financial Review, and by the time he brought it back a few people on here worked it out anyways. But there was a list of about 10 companies who had holders shorting stock... OXR was one from memory.

I agree with you about the RSI and a rally being due, i believe it is a good time to buy and accumulate now. Though the price of gold isn't doing any favors for the short term!

Explod was expecting some upside news soon

Company gave a presentation last week which is worth looking at on their website. Yes the s.p has suffered due to the drop in gold price. The mine now goes underground from the pit so cost per ounce is going to be higher more. High gold price no worries (they are unhedged) but drop in price cuts the margins. Next quarterly report due about 24th June will indicate if they are on target to increase gold production. This is a well run mob and I have no doubt that they will deliver. As we speak gold is firming up, so I am holding and would see it as a great buying opportunity at this price.

 

[Uncle Festivus]

Re: SBM - St. Barbara Mines

We may just be having a confluence of factors -

• waiting to see if the new Deeps access will deliver
• weak gold price in $AU
• shorters having their way, only means there will be a short covering rally??
• sitting on support @65c

However, the medium term upside is compelling -

• Tower hill drilling/resource definition
• Target of annual production of 1moz within a year
• Higher gold price??
• all the other projects
• Bendigo takeover????

So where are we at -

• currently producing approx 250koz
• share price @65
• current share price does not price in 1mil oz prod?