SBM - St Barbara Limited

[Family_Guy]

Re: SBM - St. Barbara Mines

Not sure why and i offer no info on the stock, other to say that this is one of my few remaining stocks i own as i wait for the next downturn in the market and the only one that i have purchased all the way from the bottom to where it is now....first bought at 22c and finished at 33c and i am hoping Gold will hit $1kus and this SBM for some reason decides to trade higher. I'm not sure what that reason is, i just hope. My basic chart knowledge shows 42c but i'm still not confident with my charts, so don't take that as a ramp......perhaps i'm reading it wrong, like upside down or something but none of my charts seem to end up the way they say, perhaps that happens with everyones?????

 

[dmagnus]

Re: SBM - St. Barbara Mines

I would say that I am looking at SBM so that's not usually a good sign but yeah they appear to be relatively healthy

 

[sinner]

Re: SBM - St. Barbara Mines

Their cost of production and debt/equity ratio are two fundamentals I don't like and can't get over.

Was a holder, out today at a small profit (would have been better leaving the capital in the bank).

 

[nick2fish]

Re: SBM - St. Barbara Mines

Add to that share holder dilution brought on by recent capital raising and it adds up to a done deal. Well done Sinner...I wish I had your flexibilities. I just have to hope the Gold price advance continues

 

[Goldmann]

Re: SBM - St. Barbara Mines

I think SBM is trying to make a break, but everytime it does - MAcquarie Group dumps another heap of it onto the market to surpress upward pressure.

wishing i bought more KCN or LGL when i bought this one.. Diggers and Drillers providing another ramp up on a dud.

in about a month - KCN up 24%, LGL up about 27%.. SBM... up about 2% at yesterdays close...

thinking i will sell again when it hits .34

 

[nick2fish]

Re: SBM - St. Barbara Mines

Exactly... Why don't they hold of until it gets to at least 0.40c and get their money back I really don't understand investment banking at all.

Anyway the sell off will take awhile... down to 105mil from 120mil on AXA notices which are a week or more behind

What a lemon this one has turned out to be. Oh well go the gold price

 

[nunthewiser]

Re: SBM - St. Barbara Mines

What a lemon this one has turned out to be. Oh well go the gold price

only a lemon for some m8 been trading this sucker up from 21 . currently holding at a nice lil profit

all about watching them channels i reckon hoping for another dip to 28 ish would be nice

do understand somes frustrations but theres cash to be made AND been made on this lil number, just gotta use them chart thingoes that get talked about so much on these forums

ps as far as last report goes ...... i may be wrong but when using a calculator to work out production and gold price and cost of extraction i think it makes a nice lil number , but im no accountant , just a ramper

have a great day

 

[nick2fish]

Re: SBM - St. Barbara Mines

Yep...I know what you are saying but my trading days are over for the mediam term...got caught holding with too many I'm ashamed to say

(note to self "find out what a stop loss means")
Cheers and good trading

 

[oldskool]

Re: SBM - St. Barbara Mines

Does any1 know whether mcquarrie is looking to sell all of their holdings ?

and does any1 know who is buying ? ta

hig costs producer not doing so well. what happens if gold reaches $1500, $1600, will they rerate her ?

 

[oldblue]

Re: SBM - St. Barbara Mines

Macquarie are shareholders because they got caught with an underwriting commitment at the last capital raising.
I would expect them to sell down, and eventually out, so that they can deploy their capital on some other deal.
Not really a vote against SBM, IMO.

 

[Uncle Festivus]

Re: SBM - St. Barbara Mines

I would think that Mac would only sell if they desperately needed the cash? From the last ann they have surprised on the positive this time and are cash flow positive, and better grades as well. With gold at $AU1450 the profit margin is compelling enough to remain on the register, esp if/when some of these new golden cash cows start paying dividends. Compare that with what the rest of the market is doing or returning ie negative.

There is an overhang of weak hands that has to be worked through all the way to 55c I guess?

All about timing - my entry is 22c and holding till it gets to project value at least - between 70c-90c - and I think even then it's still a discount on future potential.

Gold company rationalisation coming up soon, who knows, SBM might look good to a preditor?

 

[oldblue]

Re: SBM - St. Barbara Mines

Well, the evidence is that Macq are still selling, despite the PoG.
I don't see SBM as being a strategic stake for them - it's an "accidental" holding. Investment banks need to keep their capital turning over unless the holding is there for strategic reasons, ie a planned takeover, restructuring etc. I don't see that that's the case here.

 

[cuttlefish]

Re: SBM - St. Barbara Mines

The recent change notice from MQG seems to indicate that they are still selling. I tend to agree with oldblue - MQG got this stock by accident due to underwriting the poorly subscribed capital raising - and may just continue to offload their stock into the demand that arises.

But in relation to the latest quarterly - what a great result - the Gwalia project is looking really good and past a lot of the big risk stages - they're cranking out an enormous amount of gold as a company overall. I've tended to steer clear in the past because of their very high cash costs making them vulnerable to price falls - but with an AUD $1400+ gold price they should be raking in the money now - great leverage to any further price rises. For me the strong gold price and the succesful gwalia deeps commissioning has really improved their story dramatically, and the MQG overhang will possibly present good buying opportunities.

 

[oldskool]

Re: SBM - St. Barbara Mines

technical looking ok. ???!!!??? new to charts but Kagi charts seem to be ok so taken a bite in the hope febreuRY and march bring some sun.

 

[daveskis]

Re: SBM - St. Barbara Mines

As at todays announcement it seems as though Macquarie has dumped about 38m shares onto the market holding down any break it tries to make.

does anyone know (or has Macquarie stated) how many shares they are going to sell?

 

[oldblue]

Re: SBM - St. Barbara Mines

As at todays announcement it seems as though Macquarie has dumped about 38m shares onto the market holding down any break it tries to make.

does anyone know (or has Macquarie stated) how many shares they are going to sell?

Don't expect anyone, especially Macquarie, to tell the market that they are a seller, until they have a deal lined up.

 

[noirua]

Re: SBM - St. Barbara Mines

Don't expect anyone, especially Macquarie, to tell the market that they are a seller, until they have a deal lined up.

A near 10% rise in the share price this morning does seem to bear out what you say, that Macquarie would have a buyer for any stock, and thus this would be a bullish point not bearish.

 

[Uncle Festivus]

Re: SBM - St. Barbara Mines

Macquarie bobble heads getting desperate ie they do need the money apparently?

The interesting thing with this is that the share price is not reflecting the underlying fundamentals so when that artificial capping is removed the true level will be attained - my calcs at the barest minimum at least double the current sp?

Only 91,439,506 shares left to sell, still holding 7%!

 

[sinner]

Re: SBM - St. Barbara Mines

I think the problem with SBM (and most ASX gold sector players), is that too many people rode them the whole way down.

They saw the rises in gold, jumped in on the miners, which just kept dropping.

Now these shares face selling pressure on good and bad days. On bad days they mark the falls in gold, on good days people flood out to break even.

Some of these are lucky now to have weeded out all those players and have good fresh demand.

Unfortunately, my opinion for SBM is that Macquarie wouldn't be involved in this if fundamental market demand would have existed (as it did for a bunch of miners so far, e.g NCM) for the new shares during the capital raising.

It didn't then, so is this a gamble that it will later? What about the people that bought at or near $1 a year ago and just want out?

 

[Uncle Festivus]

Re: SBM - St. Barbara Mines

That's true sinner, but at the time of the raising they were still untested with the Gwalia production, but have since come through, both on improved grades and cash flow ie it's an improved company from even 7 months ago?

There's always going to be a headwind all the way back to the previous high, although looking at todays figures there is true demand side action going on, despite the obvious selling from big mac -

Closed @ 35c, up 11%, volume = 24,931,116

Nice set of figures in any language?