texas4qld Posted September 23, 2004 Share Posted September 23, 2004 In reply to: NQBill on Thursday 23/09/04 02:07pm I stand corrected http://www.ShareScene.com/html/emoticons/blink.gif Why in the hell is SBM running this announcement ? To run ore 40k's for 20% feed ? Good luck on Sunday Bill ! Tex. Link to comment Share on other sites More sharing options...
Grebmoolb Posted September 28, 2004 Share Posted September 28, 2004 It looks as if SBM are reducing costs as an emergency measure that is necessary for the companies survival. At some point it may be the time to add stock and take the gamble that will be the only way to get money back on this one. Link to comment Share on other sites More sharing options...
Grebmoolb Posted October 7, 2004 Share Posted October 7, 2004 What a fine mess we are in. Can the board of Directors get us out of trouble? PriceWaterhouseCoopers remarks in the Annual Report below should be read with Note 1a in the recent Annual Report - St Barbara consider that proceeds from sale of interests in Nustar ( formerly Taipan Resources ) will see them through the current financial year. PriceWaterhouseCoopers - Without qualification to the opinion expressed above, attention is drawn to the following matter. As a result of matters described in note 1a, there is significant uncertainty whether St Barbara Mines Ltd., will be able to continue as a going concern and therefore whether it will be able to realise its assets and extinguish its liabilities in the normal course of business and at the amounts in the financial report. From the Annual Report ( not from PriceWaterhouseCoopers ). St Barbara have the following holdings :- Australian Eagle Oil St Barbara Pastoral Capvern Eagle Group Mining Murchison Group KingKara Oakjade Regalky Holdings Sackwest Sixteenth Ossa Vafitu Zygot Nustar Mining Corporation - 44.72% Bushsun The recent sale of 100,000 shares in Nustar helped St Barbara realise $4 million reducing the Annual Report holding to 44.72%. St Barbara have 574.14 million shares in issue, and at a price of 5 cents are capitalised at A$28.7 million. Link to comment Share on other sites More sharing options...
Grebmoolb Posted October 7, 2004 Share Posted October 7, 2004 St Barbara Mining retain an interest in Nustar Mining ( NMC ) of 44.72% ( 442,719,338 shares ) worth $18.56 million ( last trade 4.2 cents ). The market cap. of St Barbara Mining at 5 cents is $28.7 million, that is a good deal less than the value of Nustar at $41 million. Claymore Capital Pty have a further transferable option on 100 million shares in Nustar ( held by St Barbara ) which has been extended to 7.5 months at 5 cents per share or a minimum sum of $5.1 million. Link to comment Share on other sites More sharing options...
Grebmoolb Posted November 2, 2004 Share Posted November 2, 2004 Strata Mining have increased their stake in SBM from 4.5% to 6.45%. Does this make St Barbara a buy ? - probably not, though at the very least a much stronger hold. Link to comment Share on other sites More sharing options...
Grebmoolb Posted November 9, 2004 Share Posted November 9, 2004 A difficult decision coming up, whether to stay with SBM or become a holder of NMC stock. It does look as if the SBM set-up is going to be a UK and US concern as the Aussie main holders bail out of SBM. Link to comment Share on other sites More sharing options...
Grebmoolb Posted November 30, 2004 Share Posted November 30, 2004 THe SBM shareholders have agreed the sale of the Paulsen Royalties to NMC, and subsequently SED have confirmed their bid for NMC will go ahead. The SED offer is worth 6.4 cents just a tad below NMC's market price of 6.5 cents. SBM's shareprice of 7.3 cents values each NMC share at 5.5 cents. Link to comment Share on other sites More sharing options...
Grebmoolb Posted November 30, 2004 Share Posted November 30, 2004 Claymore Capital must be considering their position very carefully, they hold 100 million shares in NuStar with an option for 100 million more at 5 cents. Strata Mining are building up their stake in St Barbara as a cheap way into NuStar. A closer look is needed at the final outcome from all this for SBM. The obvious is not always that easy to see at times. Link to comment Share on other sites More sharing options...
Grebmoolb Posted December 2, 2004 Share Posted December 2, 2004 St Barbara have announced that Resource Capital Fund II LP have applied to the UK AIM market for 21,554,172 shares to be quoted, and expect this stock to receive a quote on 9th December. Link to comment Share on other sites More sharing options...
Grebmoolb Posted December 9, 2004 Share Posted December 9, 2004 SBM have slipped back to 7 cents this morning in line with NMC who are affected by the slip in price of predator SED. Link to comment Share on other sites More sharing options...
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