SBM - St Barbara Limited
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Re: SBM - St. Barbara Mines
No I didn't buy more but I wasn't "stopped"out as I think a lot were. This is a stock where the fundamentals said hold and they were right. The "market" isn't always right. I suggest this one was a victim of unregulated short selling.
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Re: SBM - St. Barbara Mines
Yeah. As per my previous posts, after having a ball daytrading this I've been long for a while now. Fairly happy, although the rapidity of the movement makes me think a retrace is on the cards. If it can break and hold .40 then that's a pretty bullish sign, to say the least.
Yeah. As per my previous posts, after having a ball daytrading this I've been long for a while now. Fairly happy, although the rapidity of the movement makes me think a retrace is on the cards. If it can break and hold .40 then that's a pretty bullish sign, to say the least.
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Re: SBM - St. Barbara Mines
The weird thing is that Aus gold has breached $1100 yet some goldies like SBM have been contaminated by the rest of them. Although, SBM has had a good advance from the lows and was probably getting ahead of itself (nearly 100% gain from the lows
), or the into's were going along for the ride until it looked like turning over again?
The final bid/ask numbers suggested not much vigour in the sellers ranks so if overnight gold holds up we may find some support here?
Still not valued for 300koz production at $1100/oz?
The weird thing is that Aus gold has breached $1100 yet some goldies like SBM have been contaminated by the rest of them. Although, SBM has had a good advance from the lows and was probably getting ahead of itself (nearly 100% gain from the lows
), or the into's were going along for the ride until it looked like turning over again?The final bid/ask numbers suggested not much vigour in the sellers ranks so if overnight gold holds up we may find some support here?
Still not valued for 300koz production at $1100/oz?
explod
explod
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Re: SBM - St. Barbara Mines
The techos jumped on this on the 17th and 18th and have taken profits on overall market concerns in my view.
Sitting on support now at 29 cents, the drop brought buyers back in, notice the fall of the last 4 days was on light volume.
The techos jumped on this on the 17th and 18th and have taken profits on overall market concerns in my view.
Sitting on support now at 29 cents, the drop brought buyers back in, notice the fall of the last 4 days was on light volume.
Re: SBM - St. Barbara Mines
light volume is better than heavy volume when things head south... not as much momentum behind it all! still a bit frustrating tho
light volume is better than heavy volume when things head south... not as much momentum behind it all! still a bit frustrating tho
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Re: SBM - St. Barbara Mines
There has been a lot of reports about increased interest in buying gold in the States, yesterday. Australian gold companies must be feeling comfortable as gold trades near its peak in Aussie Dollar terms.
Everything looks set fair now for SBM after all the earlier cash raising.
There has been a lot of reports about increased interest in buying gold in the States, yesterday. Australian gold companies must be feeling comfortable as gold trades near its peak in Aussie Dollar terms.
Everything looks set fair now for SBM after all the earlier cash raising.
Re: SBM - St. Barbara Mines
In the days of tight credit I'm looking at companies that won't need to refinance any time soon. From reading of the SBM balance sheet SBM's debt funding looks like it is almost all through preference shares. Which seems to me to be a good thing, is that analysis correct?
Also what happens if they can't pay the interest on the preference shares?
In the days of tight credit I'm looking at companies that won't need to refinance any time soon. From reading of the SBM balance sheet SBM's debt funding looks like it is almost all through preference shares. Which seems to me to be a good thing, is that analysis correct?
Also what happens if they can't pay the interest on the preference shares?
Re: SBM - St. Barbara Mines
I don't know the specific terms of the SBM prefs but it is usual for dividends to accrue and to be payable before any divs are paid to ordinary shareholders. There isn't usually any automatic right to demand redemption or conversion in the event of non-payment of div but you would need to check out terms of issue.
I don't know the specific terms of the SBM prefs but it is usual for dividends to accrue and to be payable before any divs are paid to ordinary shareholders. There isn't usually any automatic right to demand redemption or conversion in the event of non-payment of div but you would need to check out terms of issue.
Re: SBM - St. Barbara Mines
Oops I'm a bit of a goose. It isn't preference shares at all, back in mid 2007 they issued A$100 million of 5 year convertible notes at 8% interest. At maturity the holders can either convert or collect the principle and interest.
Oops I'm a bit of a goose. It isn't preference shares at all, back in mid 2007 they issued A$100 million of 5 year convertible notes at 8% interest. At maturity the holders can either convert or collect the principle and interest.
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Re: SBM - St. Barbara Mines
With the gold price gone up to US$918.30 I thought the sp would be following. Is it because of the weak Aus dollar that SBM's price is not following the rises in gold price?
With the gold price gone up to US$918.30 I thought the sp would be following. Is it because of the weak Aus dollar that SBM's price is not following the rises in gold price?
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Re: SBM - St. Barbara Mines
The price should be heading up because of the weak Aussie$, trouble is, pannick and forced selling is pushing everything down. I haven't bought SBM for a few weeks, tempting, imho.
Re: SBM - St. Barbara Mines
Gold stocks closed down considerably (approx 8%) last night in the US, so there is probably caution in our market. Also the rally in gold last night occurred after the stock exchange closed, so the US gold stocks wouldn't have reflected it.
Gold stocks closed down considerably (approx 8%) last night in the US, so there is probably caution in our market. Also the rally in gold last night occurred after the stock exchange closed, so the US gold stocks wouldn't have reflected it.
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Re: SBM - St. Barbara Mines
Interesting to see the support for SBM the last few sessions bouncing back from 23c this morning even under pressure from the broader market sell off, with a consistent programmed buyer nibbling away at the ask price, and a large buyer (250k?) dropping buy orders in frequently. Sellers drying up?
Some sort of corporate action in the gold sector must be building? Someone accumulating? I'm calling the double bottom, unless there is a drastic collapse in the gold price?
Interesting to see the support for SBM the last few sessions bouncing back from 23c this morning even under pressure from the broader market sell off, with a consistent programmed buyer nibbling away at the ask price, and a large buyer (250k?) dropping buy orders in frequently. Sellers drying up?
Some sort of corporate action in the gold sector must be building? Someone accumulating? I'm calling the double bottom, unless there is a drastic collapse in the gold price?
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Re: SBM - St. Barbara Mines
St Barbara are probably only being held up in present times due to their loan book. Gold in Aussies is around AU$1,130 an ounce.
St Barbara are probably only being held up in present times due to their loan book. Gold in Aussies is around AU$1,130 an ounce.
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Re: SBM - St. Barbara Mines
Analysts views for ft show an outperform rating for St Barbara: http://markets.ft.com/tearsheets/analysis.asp?s=AU:SBM
Analysts views for ft show an outperform rating for St Barbara: http://markets.ft.com/tearsheets/analysis.asp?s=AU:SBM
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Re: SBM - St. Barbara Mines
St Barbara is becoming more and more a straight gamble on gold's Aussie$ price. Costs are at AU$650 - AU$670 an ounce with gold presently around AU$1,270 an ounce.
Ore reserves are up 43% to 3.1 million ounces.
Debt is also a major worry with the banks feeling unable to increase their exposure. AU$120 million having been raised principally through a placing.
The main earner is the resilient Southern Cross mine that raised profits 20% to AU$55 million on the back of the Aussie gold price. Mine life is 4 to 5 years.
The Marvel Loch mine has 5 years left but has had problems with output.
Capital costs continue to be a problem at Gwalia Deeps.
Leonora higher grades at Tower Hill have confirmed the potential for an open-cut mine.
First pour at Leonora in October of 1,000 ozs came from the Gwalia West Lode.
Gwalia Deeps high grade commenced this quarter at a depth of 1,050 metres.
St Barbara is becoming more and more a straight gamble on gold's Aussie$ price. Costs are at AU$650 - AU$670 an ounce with gold presently around AU$1,270 an ounce.
Ore reserves are up 43% to 3.1 million ounces.
Debt is also a major worry with the banks feeling unable to increase their exposure. AU$120 million having been raised principally through a placing.
The main earner is the resilient Southern Cross mine that raised profits 20% to AU$55 million on the back of the Aussie gold price. Mine life is 4 to 5 years.
The Marvel Loch mine has 5 years left but has had problems with output.
Capital costs continue to be a problem at Gwalia Deeps.
Leonora higher grades at Tower Hill have confirmed the potential for an open-cut mine.
First pour at Leonora in October of 1,000 ozs came from the Gwalia West Lode.
Gwalia Deeps high grade commenced this quarter at a depth of 1,050 metres.
