SBM - St Barbara Limited
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Re: SBM - St. Barbara Mines
News later today was well evil at first glance - Ed the MD sold 5 million shares on 3 and 4 July.
Though I like the added explanation in the documentation - the shares were sold so that he could participate in the upcoming offer. Which means he sold at an average of 0.34 so that he could participate in the offer and buy at 0.40 - now that is one committed MD
. I guess he is trying to bolster the numbers, or was pressured by the underwriter or has gone insane and we should all get out before the company implodes. Anyway I like his commitment to the cause!
The other bad news is that Merrill Lynch has also been a net seller, (added to AMP and Barclays) though I have now idea how to read all that stock loaning and returning stuff - it looks like someone in NY has been playing - and losing on this one (but that is a superficial reading of the data).
Anyway all of this actually says 2 things to me - hold on they can't sell forever - things maybe worse with the financials than we realise which is good for gold, but bad for people and the world at large.
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caveat: NFA - DYOR
News later today was well evil at first glance - Ed the MD sold 5 million shares on 3 and 4 July.
Though I like the added explanation in the documentation - the shares were sold so that he could participate in the upcoming offer. Which means he sold at an average of 0.34 so that he could participate in the offer and buy at 0.40 - now that is one committed MD
. I guess he is trying to bolster the numbers, or was pressured by the underwriter or has gone insane and we should all get out before the company implodes. Anyway I like his commitment to the cause!The other bad news is that Merrill Lynch has also been a net seller, (added to AMP and Barclays) though I have now idea how to read all that stock loaning and returning stuff - it looks like someone in NY has been playing - and losing on this one (but that is a superficial reading of the data).
Anyway all of this actually says 2 things to me - hold on they can't sell forever - things maybe worse with the financials than we realise which is good for gold, but bad for people and the world at large.
---
caveat: NFA - DYOR
explod
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Re: SBM - St. Barbara Mines
The news this morning as expected. Raised the money so can plough it in. Price jump with large buyers and small sellers.
Whew!!!!! a tough few weeks but we can rest a bit easier.
The news this morning as expected. Raised the money so can plough it in. Price jump with large buyers and small sellers.
Whew!!!!! a tough few weeks but we can rest a bit easier.
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Re: SBM - St. Barbara Mines
The underwriting clauses still have to hold till next close of business Wednesday 16th at least so still one final hurdle. I am looking forward to the resource upgrade in the next quarterly report though, and the increase in gold output to 300kozs, and maybe a development with the BDG holding?
The underwriting clauses still have to hold till next close of business Wednesday 16th at least so still one final hurdle. I am looking forward to the resource upgrade in the next quarterly report though, and the increase in gold output to 300kozs, and maybe a development with the BDG holding?
Re: SBM - St. Barbara Mines
With Barclays, AMP and Merrill Lynch all now below the radar and Macquarie looking like they are going to be caught with a whole heap of stock (which they may not want) there could be pressure on the price for a while yet.
Some good positive news that impacted the bottom line could help, as Uncle suggested, or a further spike up in the POG. But any strength seems to be met with more selling at the moment and at the rate of 5-10m shares per day the selling could last for weeks.
I'm hanging in there though, good fortune to all holders.
caveat: NFA - DYOR
With Barclays, AMP and Merrill Lynch all now below the radar and Macquarie looking like they are going to be caught with a whole heap of stock (which they may not want) there could be pressure on the price for a while yet.
Some good positive news that impacted the bottom line could help, as Uncle suggested, or a further spike up in the POG. But any strength seems to be met with more selling at the moment and at the rate of 5-10m shares per day the selling could last for weeks.
I'm hanging in there though, good fortune to all holders.
caveat: NFA - DYOR
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Re: SBM - St. Barbara Mines
Still undervalued?
Still undervalued?
explod
explod
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Re: SBM - St. Barbara Mines
Absolutely; IMVHO
Notice banks in aus being supported by future fund (and that's another disgraceful story, taxpayers foot the final calls). The flight of institutional investors from SBM and others presents great bargains for the cash holders.
Absolutely; IMVHO
Notice banks in aus being supported by future fund (and that's another disgraceful story, taxpayers foot the final calls). The flight of institutional investors from SBM and others presents great bargains for the cash holders.
Sean K
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Re: SBM - St. Barbara Mines
I'm not sure it's a 'flight' as such, maybe just keeping their exposure ratio's within limits. Generally I think the proverbial is about to hit the fan for the global money shuffling industry so ANY stock even remotely connected to gold will 'outperform going forward' as the anal-ists like to say
The latest result is but one of several promising exploration targets here, but I think Tower Hill will be just as promising ie more to come.
And - no debt ie not at the mercy of banks.
I'm not sure it's a 'flight' as such, maybe just keeping their exposure ratio's within limits. Generally I think the proverbial is about to hit the fan for the global money shuffling industry so ANY stock even remotely connected to gold will 'outperform going forward' as the anal-ists like to say
The latest result is but one of several promising exploration targets here, but I think Tower Hill will be just as promising ie more to come.
And - no debt ie not at the mercy of banks.
Re: SBM - St. Barbara Mines
SP up 16% on good volume this morning. The good news will help sell the surplus being placed on the market by the funds holding the shares as a result of the failed loans and underwriting. Once those are disposed of we should see value return. I would not be surprised to see an offer from someone like Placer now that the reserves are increasing and the SP is low.
SP up 16% on good volume this morning. The good news will help sell the surplus being placed on the market by the funds holding the shares as a result of the failed loans and underwriting. Once those are disposed of we should see value return. I would not be surprised to see an offer from someone like Placer now that the reserves are increasing and the SP is low.
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Re: SBM - St. Barbara Mines
No money so I had to sell to top up with some more. I feel like a kid stealing candy and getting away with it. Am I missing something ????
No money so I had to sell to top up with some more. I feel like a kid stealing candy and getting away with it. Am I missing something ????
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Re: SBM - St. Barbara Mines
Well, I'll wade in with a cracked and dusty crystal ball.
This is looking to me like prime takeover stuff now. There's not really any such thing as intrinsic valuation on fundamentals in the current market. Long term, sure - but is Mac bank really wanting to be a long term investor here?
SBM is now in the position of having a very overexposed major shareholder. As major holder, I'd be very keen to have back channel discussions with anyone wanting to take over the company - at the 50c mark or better. It would be either that or resign myself to a long, long wait - and further possible falls.
Banks aren't exactly in the best shape at the moment either.
I'm a newbie, but that's my read. Mac's butt is well and truly out in the wind on this one.
Well, I'll wade in with a cracked and dusty crystal ball.
This is looking to me like prime takeover stuff now. There's not really any such thing as intrinsic valuation on fundamentals in the current market. Long term, sure - but is Mac bank really wanting to be a long term investor here?
SBM is now in the position of having a very overexposed major shareholder. As major holder, I'd be very keen to have back channel discussions with anyone wanting to take over the company - at the 50c mark or better. It would be either that or resign myself to a long, long wait - and further possible falls.
Banks aren't exactly in the best shape at the moment either.
I'm a newbie, but that's my read. Mac's butt is well and truly out in the wind on this one.
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Re: SBM - St. Barbara Mines
I would have to assume that MAC being lead underwriter that they would not be the only underwriter ie they would have farmed some out, so not entirely left holding the baby.
Now unless I'm reading a quarterly report from another company, going by the share price today, that also happens to be called St Barbara, then this report is exceptionally good news -
1 million oz by 2010?
Capitulation day?
I would have to assume that MAC being lead underwriter that they would not be the only underwriter ie they would have farmed some out, so not entirely left holding the baby.
Now unless I'm reading a quarterly report from another company, going by the share price today, that also happens to be called St Barbara, then this report is exceptionally good news -
- Proven & prob reserves increased by 43% to 3.1moz
- Tower Hill reserves 323kozs
- Nevoria reserves 270kozs
- Mineral resource now 10.6Moz
- Forecast production for 2009 - 300,000 oz
- cash cost's up (for the qtr)
- searching for new Cheif Operating Officer, and General Manager Exploration
- corporate play in action? manipulation?
1 million oz by 2010?
Capitulation day?
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Re: SBM - St. Barbara Mines
Dunno. Tower Hill is shaky. Cash costs nearly at spot. I think that's why the price is tanking. I read this report as an overall negative. But then again, I can barely read. My uninformed punt would be for a long black candlestick today.
I doubt Mac Bank is happy today.
Dunno. Tower Hill is shaky. Cash costs nearly at spot. I think that's why the price is tanking. I read this report as an overall negative. But then again, I can barely read. My uninformed punt would be for a long black candlestick today.
I doubt Mac Bank is happy today.
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Re: SBM - St. Barbara Mines
Out of interest, what data are you looking at ie what cash cost? What do you see as negatives. Thanks
Can you see anything wrong with my spreadsheet?
http://spreadsheets.google.com/pub?key=pU-CyOZ-EOdoG1MmpluLUCQ
Out of interest, what data are you looking at ie what cash cost? What do you see as negatives. Thanks
Can you see anything wrong with my spreadsheet?
http://spreadsheets.google.com/pub?key=pU-CyOZ-EOdoG1MmpluLUCQ
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Re: SBM - St. Barbara Mines
I've been tempted to buy in but holding off. The Gwalia thing worries me - it has seemed ambitious from the start, they've had some small delays and overruns already and I'm not convinced there won't be more.
The placement overhang is large and the tanking of the share price of a 'blue chip' stock means the margin call/forced sell pressure will still be there in the background as well. It might settle but I think until they demonstrate they've really got the Leonora thing under control the market might remain cautious.
My calls have been appalling lately though so this is probably a buy signal.
I've been tempted to buy in but holding off. The Gwalia thing worries me - it has seemed ambitious from the start, they've had some small delays and overruns already and I'm not convinced there won't be more.
The placement overhang is large and the tanking of the share price of a 'blue chip' stock means the margin call/forced sell pressure will still be there in the background as well. It might settle but I think until they demonstrate they've really got the Leonora thing under control the market might remain cautious.
My calls have been appalling lately though so this is probably a buy signal.
Trembling Hand
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Re: SBM - St. Barbara Mines
From the quarterly report,
Cash cost for year was at $555 AUD and $646AUD for quarter. spot price around 980ish AUD
From the quarterly report,
Cash cost for year was at $555 AUD and $646AUD for quarter. spot price around 980ish AUD
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Re: SBM - St. Barbara Mines
Not sure either???
SBM made $55million profit before exploration & other expenses last fin year on production of 155koz, and have made a pretty confident guidance of a target of 300koz this fin year. Even discounting the profit margin by assuming the last qtr small increase, due to mill problems, carries over, we are still looking at a company worth more than the current share price.
The exploration potential has been totally discounted before the new issue at 54c, let alone now at 24c this morning. The reserves upgrade has more than made up for the dilution by the issue, in fact on my calc it is more per share than before.
From the quarterly report,
Cash cost for year was at $555 AUD and $646AUD for quarter. spot price around 980ish AUD
Not sure either???
SBM made $55million profit before exploration & other expenses last fin year on production of 155koz, and have made a pretty confident guidance of a target of 300koz this fin year. Even discounting the profit margin by assuming the last qtr small increase, due to mill problems, carries over, we are still looking at a company worth more than the current share price.
The exploration potential has been totally discounted before the new issue at 54c, let alone now at 24c this morning. The reserves upgrade has more than made up for the dilution by the issue, in fact on my calc it is more per share than before.
