SBM - St Barbara Limited

[noirua]

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?

An even better set today, up 4 cents to 39 cents this morning. The continued high gold price and everything going well at Gwalia Deeps has calmed the risk worries. May have further to go in the recent recovery story.

 

[kenny]

Re: SBM - St. Barbara Mines

With the high volumes going through today, Macquarie would have had a chance to exit out of their "non-core" position I suspect. Once this overhang is removed; things could get interesting.

Cheers,

Kenny

 

[cookiedude]

Re: SBM - St. Barbara Mines

Wow. What a day! Is it just me or is the volume traded today sitting currently at 98,000,000+..............

 

[explod]

Re: SBM - St. Barbara Mines

Wow. What a day! Is it just me or is the volume traded today sitting currently at 98,000,000+..............

Yep 60 mil dumped in off market trade around 3pm will be last of the Mack, blue skies now to fill that old 20 cent gap.

Latest production looking good too, bit more on the gold price for smiles all round.

 

[Uncle Festivus]

Re: SBM - St. Barbara Mines

Wow. What a day! Is it just me or is the volume traded today sitting currently at 98,000,000+..............

Yes, that's what I have too - Mac had about 91m left, getting out for even at 40c, could be the exit we've been waiting for? So, someone has just bought 91m @ 40c for $36m - a big vote of confidence?

 

[nunthewiser]

Re: SBM - St. Barbara Mines

03:08:15 PM 0.390 63,638,406

yes i think maquarie found a buyer . i hold as stated a while back on this thread, i did do a post earlier but it had no analytical value and was just skiting so it was removed

 

[Sean K]

Re: SBM - St. Barbara Mines

Yep 50 mil dumped in off market trade around 3pm will be last of the Mack, blue skies now to fill that old 20 cent gap.

Latest production looking good too, bit more on the gold price for smiles all round.

I'm not sure how to read the technicals here. Does the gap up have to be filled? I just see resistance between the previous high and the gap down between 37 and 42 ish.

I haven't checked production outlook. How's the cash costs looking? That was always my worry.

Had a very nice run up like a few other goldies making 100% plus returns since the bottom.

 

[explod]

Re: SBM - St. Barbara Mines

I'm not sure how to read the technicals here. Does the gap up have to be filled? I just see resistance between the previous high and the gap down between 37 and 42 ish.

I haven't checked production outlook. How's the cash costs looking? That was always my worry.

Had a very nice run up like a few other goldies making 100% plus returns since the bottom.

I am presuming my take on fundamentals in this case. Back in June/july 08 shares were at 56cents when capital raising was announced for share issue at 40cents.(nuff said) Nerves with the gold price movements combined for this fundamental gap to occur. Recent production reports, healthy ballance sheet now and no hedging make this a good postion for holders now,,,, IMVHO,, of course.

 

[explod]

Re: SBM - St. Barbara Mines

And we have a trading halt,

so we will soon find out. Lassater's reef maybee(spelling?)

IMVHO

 

[YELNATS]

Re: SBM - St. Barbara Mines

Notice has just gone to pre-open with no announcement posted yet. Could it be an ASX speeding ticket?

 

[explod]

Re: SBM - St. Barbara Mines

Notice has just gone to pre-open with no announcement posted yet. Could it be an ASX speeding ticket?

Doubt that, think ASX would be onto reasoning as enumerated above. More inclined to think Macquarie variation to substantial holder status or other to that effect.

But I hope it is the big reef

 

[cookiedude]

Re: SBM - St. Barbara Mines

ASX price query.... Regardless should be in for some interesting times in the next few weeks / days.

 

[lsj84]

Re: SBM - St. Barbara Mines

I've been waiting for this moment for ages, but when it has come I've rather become jittered. But i believe the gold price is to go up in trend if not to erupt, so this does provide fundamentals to the company.

What's your guys target price for selling SBM? in other words, what would the share price be should the spot physical gold went up to $3000AUD/ounce?

 

[N1Spec]

Re: SBM - St. Barbara Mines

I've been waiting for this moment for ages, but when it has come I've rather become jittered. But i believe the gold price is to go up in trend if not to erupt, so this does provide fundamentals to the company.

What's your guys target price for selling SBM? in other words, what would the share price be should the spot physical gold went up to $3000AUD/ounce?

lol thats a loaded question.
SBM on reserves alone is worth alot more then current SP.
Current SP has operational risk factored into it which after the last quartely has subsided some what (the risk that is).

If POG is $3000AUD an ounce and SBM gets re-rated, well you do the maths. I would say it will be easily north of $1.00, DYOR.

 

[Uncle Festivus]

Re: SBM - St. Barbara Mines

I've been waiting for this moment for ages, but when it has come I've rather become jittered. But i believe the gold price is to go up in trend if not to erupt, so this does provide fundamentals to the company.

What's your guys target price for selling SBM? in other words, what would the share price be should the spot physical gold went up to $3000AUD/ounce?

The securities of St Barbara Limited (the “Company”) will be placed in pre-open at the
request of the Company, pending response to an ASX Price Query by the Company.
Unless ASX decides otherwise, the securities will remain in pre-open until the earlier of
the commencement of normal trading on Monday, 16 February 2009 or when the
response is released to the market.

Ha ha, wishful thinking, but the sums look good, and we can dream -

3000-800 = $2200 per oz 'profit'
Production per year = 250000oz
=2200 X 250000 = $550M PER YEAR! 50c per share!

Who knows what the market would value them at with this scenario, but I would think it would be several tens of multiples of the current sp? The other hypothetical is if they do actually achieve the stated 1Moz target, either through internal exploration or aquisitions ie BDG. The sums become truly astronomical then - $2.2B!!

 

[Family_Guy]

Re: SBM - St. Barbara Mines

Well, reading the above few comments i may have done myself some more profit, but i closed out my holding of just over 100,000 at 40c, for which i'm very happy considering what i got them for. Might not look at this one for a while the way you guys sound so confident. I hate when i sell something and it runs.

 

[sinner]

Re: SBM - St. Barbara Mines

I hate when i sell something and it runs.

So far on the gold front I am 2 for 2 on this. Gave up IGR at 0.13 (0.21 now) and SBM at 0.31 (0.4 now).

Despite todays price action I'm ok with my decision. I got out of this one due to fundamentals which don't mesh with my rules, and luckily the capital was added to another holding which has performed even better than SBM did today! Will let you all try and guess what...

POG doesn't even need to drop to October lows for SBM to be underwater in terms of cost of production and the market will punish them heavily. I am bullish on gold, but not that bullish (yet).

Anyway, I will probably check back on this thread now and then but less without "holders anxiety". Good luck to all those who are long!

 

[Uncle Festivus]

Re: SBM - St. Barbara Mines

POG doesn't even need to drop to October lows for SBM to be underwater in terms of cost of production and the market will punish them heavily. I am bullish on gold, but not that bullish (yet).

What do you have for their cost of production??

 

[kbxk508]

Re: SBM - St. Barbara Mines

In Sep08 Qtr report, company stated the following

Capital and exploration expenditure for the year is fully funded from cash flow from operations, assuming a gold price of A$975 (US$772) per ounce and current cash reserves.

Current 24hr spot Gold in A$1432 and as low as $910 (approx.) in last 6/12 mths.

SBM Cash Costs (Dec Qtr): Southern Cross: A$777, Leonora: $819 (combined total A$794),

kbxk508

 

[Uncle Festivus]

Re: SBM - St. Barbara Mines

Some people like the fundamentals? A Buzz Lightyear stock?

The Company has been advised by Macquarie Capital Advisers Limited via
telephone that it sold approximately 72 million Company shares on Friday, 13
February 2008. The Company understands that these shares have been bought
by a number of institutional investors.​

Following on-site visits to the Company’s operations by a number of
investment analysts and investors during the week ended 13 February 2009,
the Company understands that there have been updated reports and advice
provided to clients of their respective firms.​

The Company is satisfied that there was no information (of the type
contemplated in ASX listing rule 3.1) provided to the participants in these site
visits that has not been previously disclosed to the market.
In addition, the Company notes that it is considering a number of potential
strategies in relation to the Convertible Notes issued by the Company in 2007​

which have a present face value of $99,600,000