SBM - St Barbara Limited

[rub92me]

Re: SBM - St. Barbara Mines

Finally bought in today at 21 cents with stop at 18.5 cents. It'll do whatever the market decides, but it's looking plenty oversold to me.

 

[noirua]

Re: SBM - St. Barbara Mines

Finally bought in today at 21 cents with stop at 18.5 cents. It'll do whatever the market decides, but it's looking plenty oversold to me.

I've done the same, buying that is, no stops. Purely on looking at the chart and hoping forecasts for a US$1200 per oz price come true.
The Aussie is falling against the Greenback with talk of the exchange rate falling a lot further.

 

[cookiedude]

Re: SBM - St. Barbara Mines

Damn. SBM down 34% in 2 days… To good to pass on.. Bought a small / speculative parcel today for 0.18

 

[VViCKiD]

Re: SBM - St. Barbara Mines

Can anyone explain to me why this stock has been castrated and hung alive ? The fundamentals seem sound although production costs are slightly high. I bought in originally at 0.65 and have been hurting ever since ! I really can't understand why this stock has been hit harder than any other gold stock out there

 

[ronnieling]

Re: SBM - St. Barbara Mines

I bought in at 69.5c and theres alot of Red in my Portfolio.

The price got absolutely drilled before and after the retail capital raising resulting in a very small take-up and leaving the underwriters with the overhang.

 

[lsj84]

Re: SBM - St. Barbara Mines

What's going on here, trading at a price like a to-be-bankrupt company. i think if the company can hold on until this selling frenzy pass off there would be a great come back. there shouldnt be any solvency issue? any1 knows why Duetsche bank gives 0.3 price target?

 

[JAVN1]

Re: SBM - St. Barbara Mines

A lot of people hurting in the last few months. Just when you think its hit rock bottom it keeps falling. Bought in at .031 they went as low as .18 today.

Can anyone shed some light on this relatively health company with good prospects.

Not to mention Gwalia which will be on line soon.

 

[solomon]

Re: SBM - St. Barbara Mines

A month ago I thought that things were going to get bad for SBM... due to three 5% plus holders all selling below the 5% reporting radar, which meant they could keep selling about 80mill shares (rough guess) each.

...

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

My take on this would be that there are some major players hurting and are forced to keep selling out and other small players who have been hit with increasing margin calls or sell out. Merrill Lynch is my guess for the hurting giant. There is news about that they are selling out of their CDO's which is linked to why NAB have written down (orwas it off ... I'm not following it) their CDO exposure of about $890m. So if Merrill Lynch is hurting bad and near the edge of collapse that would explain why there is selling at any price. In other markets buyers would jump in, but in this market my guess is that there is so much uncertainty about that the big money is sitting on the sidelines.

I doubled up at about 0.35c and am considering going again if it hits 16c.

All of the above is guess work, it ain't financial advice. Any others who want to try telling the tale of the ever sinking SBM price I'd love to hear it.

 

[noirua]

Re: SBM - St. Barbara Mines

This problem with borrowings nearly brought down St Barbara in the early 1990's and again about 4 or 5 years ago.
The risk factor is much higher now, as once again, there is a risk of lower profits than expected should the gold price tank and stay low for many years.
Sons of Gwalia had great problems considering the mining of gold from Gwalia deeps, nearly 2,000 metres, and this project is no stroll in the park for St Barbara.

I'm still confident about SBM despite the recent falls and have added stock two days in a row.

 

[nioka]

Re: SBM - St. Barbara Mines

What's going on here, trading at a price like a to-be-bankrupt company. i think if the company can hold on until this selling frenzy pass off there would be a great come back. there shouldnt be any solvency issue? any1 knows why Duetsche bank gives 0.3 price target?

The selling price for the shares need not be related to the general prospects although it normally would be. If there is unusual volume as there has been for the last 2 days, it couild be a leak of bad news to come but it is more likely to be pressured volume sellers. Sp does not inspire confidence.?????????

 

[explod]

Re: SBM - St. Barbara Mines

I loaded up with more today.

The volume of sales for July was the highest in five years. Today we dropped through a support going back to Nov 05. Next strong support would be 10 cents. Todays volume was the highest since March.

There is still black box selling but it has eased back. Today my take is that selling is capitulation of longer term holders but it is being met with some very big buys. People are very scared and losing sight of fundamantals at this level. There is no hint or evidence of anything out of the ordinary.

If we look at other major stocks (and remember SBM got punished in the capital raising as well) LGL, AVO, RSG that I beleive are sound prospects, they are all now well below proper value. SBM of course are just not up to the line of production yet so are being hit harder.

On the overall activiities of buy sell today, and the factors above, a gold price rise will see this back above .30 in a heartbeat. .10, well, never say never but I would be going for more.

 

[ans25]

Re: SBM - St. Barbara Mines

Wow, I cant believe this is so low...hmm tempted to to go for more but dont want to catch a falling knife, maybe will go in once it has a string of nice solid days... too risky now me thinks, esp on such a green day.

Interesting times ahead

 

[eddyeagle]

Re: SBM - St. Barbara Mines

SBM is an absolute dog at the moment!

Does anyone know what Fat Prophets have to say about it as they were strongly recommending it when it was up around 60c-70c...?

 

[cuttlefish]

Re: SBM - St. Barbara Mines

I bought in a smallish parcel at .29/.305 but sold half again as it started to fall further (at .27) and exited the rest today. They are not generating an operating profit from existing operations as far as I can tell but thats just my opinion. They have been burning quite a bit of cash on the gwalia development and on operating losses, and needed this recent cap raising quite badly. There is a lot of stock overhang from placements and from people that bought this as a blue chip stock to see it decimated. Ed wouldn't be the only one getting margin calls. If the Sons of gwalia mine startup has delays and cost overruns - or doesn't produce an operating profit - then I don't know where they are going to get the next tranche of cash from. I'm leaving it alone until there is definitive evidence that the sons of gwalia startup is working, or the gold price does a proper run up above $1000.

 

[jman2007]

Re: SBM - St. Barbara Mines

I'm leaving it alone until there is definitive evidence that the sons of gwalia startup is working, or the gold price does a proper run up above $1000.

Yep,

I don't hold this stock, but I agree, Gwalia underground will test these guys mettle for sure. If there is one way that they can restore investor confidence in them, then a successful comissioning of this project and a relatively trouble-free first 6 months would be the way to do it. I will wait and see how this project develops, before forming a proper opinion of SBM.

 

[Family_Guy]

Re: SBM - St. Barbara Mines

I should be changing my log in name. Missus walked out on me last night, so i thought i'll either make her rich or broke. Plunged $50k each on this and LGL today and i'll do it again tomorrow with the rest of our savings. Once the papers are signed, she can have the portfolio. She'll end up being mega wealthy, or living off the govt. If these go up and you are single, PM me for her ph number.......but be warned......she has baggage. Not a bad cook but. Once a monther, keeps the house clean. Nice house. No animals.

 

[refined silver]

Re: SBM - St. Barbara Mines

I should be changing my log in name. Missus walked out on me last night, so i thought i'll either make her rich or broke. Plunged $50k each on this and LGL today and i'll do it again tomorrow with the rest of our savings. Once the papers are signed, she can have the portfolio. She'll end up being mega wealthy, or living off the govt. If these go up and you are single, PM me for her ph number.......but be warned......she has baggage. Not a bad cook but. Once a monther, keeps the house clean. Nice house. No animals.

Ouch!!

Yeah, a bit ironic about the log-in name under those circumstances. Life can be like that.

Depending on how long it takes to cash in on the portfolio, especially if it takes a little while I think she'll do quite well out of those two. Won't you get half? She might be back shortly anyway.....

 

[MRC & Co]

Re: SBM - St. Barbara Mines

Ouch!!

Yeah, a bit ironic about the log-in name under those circumstances. Life can be like that.

Yeh, but not if he behaved like Peter Griffin!

he he, love that show!

In all seriousness though, sorry to hear.

 

[Paladin]

Re: SBM - St. Barbara Mines

Well at least now we have a reason for the two bottoms in recent weeks. Bl*!dy Ed and his margin loan.

I've filled my boots at between .19 and .225, and now that wall at .23 is sold out I reckon we'll see some more upward correction to come.

It will be nice if it can break .3 again, but I reckon the market is probably still feeling gun shy about this one.

And yeah, given the POG they really need to release something about projected cash costs - because the balance sheet isn't looking too great (that said, at least they are cashed up and moderately hedged).

 

[Family_Guy]

Re: SBM - St. Barbara Mines

I dont have charts, but watching this and i reckon this has become a Dtrader stock.......ranging is over a few cents and has been for some time with some decent orders. Looks like peeps are trading a couple of ticks (half cents). Any thoughts??