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SBM - ST BARBARA LIMITED


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What buying are you Refering to.........NMC ?

 

SBM has been a basket case for years, but the buyers/traders will still play with it.

And as you have pointed out NMC's paulsen mine has been up graded........which has brought in new interest.

I've seen big buyers in ONE and HIH, so what does that tell you http://www.ShareScene.com/html/emoticons/laughingsmiley.gif

 

Hope she doubles for you, but don't fall in love http://www.ShareScene.com/html/emoticons/wub.gif

 

Tex.

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I guess when you look at SBM's balance sheet....the picture aint too pretty.

 

You've got to wonder if all the recents moves by RCF...have been with an eye to taking control of Paulsens via SBM's shareholding in NMC.

 

Kiril

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RCF have painted a pretty picture of them self, in the recent announcements.

But I was told way back that they are sharks ?

It's to early to say what they're up to, but I'd say thier options are limited.

 

Tex.

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Seeing as how NMC are the only ones that have something or any worth, I'd guess that you're correct.

But it still remains to be seen if Miller was up front about Paulsens.

After all, he did manage to convince a few people that Paddyflats still had reserves http://www.ShareScene.com/html/emoticons/laughingsmiley.gif

 

Tex.

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  • 5 weeks later...
It may well be next year before we see a recovery in St Barbara under mostly new management. Something tells me that this one may well rise from the ashes of despair as it has in the past. Needs a stronger US Dollar - about 20% - against the Aussie currency and a gold price nearer US$450 to move this one on quickly.
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In reply to: Grebmoolb on Thursday 26/08/04 09:47am

First pour from Paulsens is scheduled for May 2005 (pending finanace to build the plant).

 

Bluebird mine is on care and maintenance (meaning someone is watering the garden).

 

Paddys flat is being reviewed (meaning the gardener is over at bluebird mine)

 

Cost to produce one ounce of gold $559......selling price $546 = negative $13 per ounce.

 

Revenue down 43%

 

Net loss $24.5 million

 

Cash reserves $12.8 million

 

Ounces sold in 2004 = 40,232...........Ounces sold in 2003 = 98,080

 

Basicly they will not produce one ounce of gold until May next year (if all goes well).

So for it to rise from the ashes it will need a miracle imho.

 

Tex.

 

 

 

 

 

 

 

 

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In reply to: texas4qld on Wednesday 01/09/04 08:51am

Nice way to put it Tex.

 

There does seem to be someone buying a reasonable amount of stock in Taipan/Nustar over last little while.

 

I have recently been buying as well.....might have a nice turnaround in NMC...thought that the guys who recently took control of SBM have their eye on that asset.....could be wrong.

 

Kiril

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In reply to: kiril on Wednesday 01/09/04 12:46am

Hi kiril, the way things are going SBM may well be desperate to unload assets, as the new Directors would find it embarrassing to continue selling shares and warrants at the same rate as the previous board.

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