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SBM - ST BARBARA LIMITED


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In reply to: texas4qld on Wednesday 21/07/04 03:03am

Hi texas4qld, I have much to thank Ross Atkins for as he bought out Bond for 3.5 cents and allowed me to take a big profit on the stock later that I'd almost given up on. I know Ross later went bankrupt which was a bit of a shame.

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QUOTE (Grebmoolb @ Wednesday 08/09/04 05:56am)

Ross went to WA when he was 17 and drove one of the family trucks for a few years.

He eventually bought a small gold mine, and it became St Barbara.

He later bought Alan Bonds blue bird mine for $29.8 million which increased his holdings of Endeavour resources to $40 million.

But that's not all he bought off Alan Bond http://www.ShareScene.com/html/emoticons/wink.gif

Yes he eventually lost the lot, but he's still a wealthy man and has many irons in the fire.

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QUOTE (texas4qld @ Tuesday 07/09/04 10:26pm)

I can see you have access to an amazing amount of information on St Barbara ( formerly Endeavor Resources ), unfortunately most of my information was thrown out. My purchases were made on 21st July 1980, 23rd August 1982 and seven purchases in the 1992/3 period, I sold out on 13th April 1994. You will know from this that I held losses for a long period and it was only the arrival of Ross Atkins that saved the day, fortunately he gave up trucking.

 

I doubt the new outfit, in virtual control, have the same chance of turning this one round now. The price is similar however, so who knows.

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In reply to: Grebmoolb on Wednesday 08/09/04 11:53am

SBM have no resources left IMHO.

The only think that is of value is Paulsens, to which they hold a large percentage.

I have my doubts as to how much gold is there, and they are a year away from digging it up (if at all).

I wouldn't be holding my breath.

 

Tex.

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Just heard that SBM have stood down another 15 staff, some of them have been there for 18 years, and have been given two weeks pay.

 

They have debts owing from various suppliers, for over 2 years.

 

From the $21 million they raised last year, they have $8 million left, and are now creating debt for Nustar to service.

 

Two years ago SBM had 860 leases, today they have 1.

 

Expect a flat line in the not too distant future IMHO.

 

Do your own research, these are just things I've heard on the grapevine.

 

Tex.

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What a laugh http://www.ShareScene.com/html/emoticons/laughingsmiley.gif

Read the latest announcement.

 

Opening line: "the company is pleased to advise that statutory approvals for the development of the NOA2 underground resource have now been approved"

 

Now read the last line: The company also confirms that it has disposed of 2.5 million shares in tectonic resources NL yeilding a net $750,000.00.

 

 

What is this saying ?

 

They are pleased to advise that they sold half of their shares, in a company that has some sort of potential http://www.ShareScene.com/html/emoticons/weirdsmiley.gif

 

Well done boys !

 

 

Tex.

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