SBM - St. Barbara Mines

[oldskool]

interesting rise on no news....could it be a pump and dump , now that quarterly report is coming out soon ? happened similarly last quarterly....pog will trak sideways imo until 2H of year , where it will break convincingly thru the 1k oz, prolly $1200

[oldskool]

pull back to 34 cents fib support likely next few months. equity bull market is consolidating and taking charge. :o

[oldskool]

a further 2 cents and fib says buy imo. lickn me chops barry. can we review now or best to wait for next fib support ?

[oldskool]

looks like i am getting closer but i think 34 wont hold now. appears an insto is selling. 28 next major stop imo. Anyone agree ? or have thoughts ? i have sold out of blue chips at profit looking to enter this one again? Anyone opinion of this one ?

[explod]

looks like i am getting closer but i think 34 wont hold now. appears an insto is selling. 28 next major stop imo. Anyone agree ? or have thoughts ? i have sold out of blue chips at profit looking to enter this one again? Anyone opinion of this one ?

Maybe, but the chart is fairly reflective of the gold price, with volume steady not a lot of evidence of large selling, but I am srong very often

[oldskool]

thanks for your input mate. very interesting but im concerned this has been sold down agressively even though other gold stocks have held up well of late. also, lgl announced bad news today. goldies likely to get smashed again tomorrow because of this. i think sbm will reach 35 tomorrow. also, smells like next quarterly is going to contain bad news. sbm is reknown for leaking news before announcements. do you think its time to buy ? if not, what level is good buying level in your opinion ? kindest

[oldskool]

looks like ive nailed it johnno. the "leakage" still holds true of sbm. Mr Lehany cannot control the troopers imo. thanks though,it worked to myadvantage , as im holding off on purchase. may step big toe in today, depeneding on volume. or may wait to rech 28 cents if it looks weak again. :)

[oldskool]

anyone provide view on this one now ? worth buying in at current level ? i am looking at buying in now. any assistance welcomed. report due tuesday i believe. kindest.

[Uncle Festivus]

anyone provide view on this one now ? worth buying in at current level ? i am looking at buying in now. any assistance welcomed. report due tuesday i believe. kindest.

What's the hurry? Nothing compelling me to buy from what I can see, other than it's undervalued, even at AU $1250?

[oldskool]

Hi UncleFestivus, thank you for your input. I so think its undervalued also. Im not sure of your post though. Are you implying its probably a safer bet to wait until tuesday , wednesday for the quarterly report before entering or selling ? i believe you have good knowledge of this stock. I would appreciate your view. For what it is worth, the HC site has a post indicating production will be significantly down. Do you think this has merit. kindest.

[oldskool]

Please accept my apologies for the extra post. I forgot to mention that the reason I would like to buy is the quarterly is due this week. One would think its good to buy before announcement ? or possibly not should it be negative result as some suggest? if quarterly is below expectations then this will crash down to 23-24 cents imo.

[JTLP]

Please accept my apologies for the extra post. I forgot to mention that the reason I would like to buy is the quarterly is due this week. One would think its good to buy before announcement ? or possibly not should it be negative result as some suggest? if quarterly is below expectations then this will crash down to 23-24 cents imo.

Oldskool...my thoughts re: Unclefestivus' comments are as follows:

He says there is no rush for the following reasons:
Negative Qtly - Price will most likely fall, meaning you will possibly be down on your initial position

Positive Qtly - Most likely it could be expected and would not ignite a massive run in the sp. Plus it will give YOU the chance to read the report and make a decision based on what YOU think the value of SBM is.

He may also be referring to the fact that gold has fallen quite a bit from its lofty highs in both USD and AUD terms...so even if there was to be a gain gold seems to be trending south atm so the reversal in the SP will be momentarily...

But we will let UF answer it...just my 2 cents and DNH

:)

[oldskool]

thank you. i will wait for quarterly and make up my mind. someone on HC advised its going to be terrible, he has a source. sbm seems to be hexed he thinks , production down significantly. might keep to the blue chips for now.

[kbxk508]

someone on HC advised its going to be terrible, he has a source. sbm seems to be hexed he thinks , production down significantly.

oldskool, who/what's HC?

RSI hit 30% (lowest since 6 Aug 08) and looking to bounce. Key support at 27/28c imo.

kbxk508

[Uncle Festivus]

My 2c worth too ;)

If the HotCopper poster knows something of this nature then he/she is inside trading and should be reported :D ha ha fat chance of that happening!

I am patiently waiting again on this one because of

- gold is trending down,
- general market may be topping?
- any general market sell off may take goldies down with it

The proviso is that there may be some action in the gold price coming up, see gold thread....wait for the fact???

[oldskool]

Thank you for provision of inputguys. It confirms my thoughts exactly. I think its best to wait until quarterly.
PS>dont like the chances of inside trading. lol. pog should bounce as the bear market rally has become toppy now. Most markets are up 20-30% in a space of 6 weeks. This is not healthy. Someone has to burp and let out the air somewhat imo. :)

[nunthewiser]

:D gotta love hotcopper :D

for what its worth i too will also be looking around the 25- 28 area once this lil bounce is over , maybe wrong and miss a nice entry , but happy to be proven wrong . also when i say 25-28 that is merely a band that intrests me DOES NOT mean it is a guranteed entry area , just means that it will be high on my watchlist to watch the action from thereabouts to see if it fits my criteria

on a fundamental basis as uncle festivus has mentioned they still making cash currently

[explod]

I liked what the CEO said this morning and think his warning on production failing to meet expectations has been missread. There appears little doubt that this is the primary focus of his new position. We will soon see if he is up to it.

Sounded like worth a punt at this price. After the shakeout could see the longer term support bringing back the buyers this afternoon so loaded up some more at 27cents. Stop at 26cents with the close of .28

[JTLP]

Explod...I thought it had more to do with the costs involved in extracting the gold (from memory most were up around the 950 - 1050 per oz mark).

With gold not knowing which way it will go, rising AUD (presently) and AUD Gold price at 1260 people are perhaps nervous that production will not only fail to meet expectation...but any fall in production will lead to increases on the production costs.

Just my 1 + 1 cents :2twocents

[explod]

Explod...I thought it had more to do with the costs involved in extracting the gold (from memory most were up around the 950 - 1050 per oz mark).

With gold not knowing which way it will go, rising AUD (presently) and AUD Gold price at 1260 people are perhaps nervous that production will not only fail to meet expectation...but any fall in production will lead to increases on the production costs.

Just my 1 + 1 cents :2twocents

From memory also, I thought the average was much less than that. Each to his own of course but I think AU gold will soon be back to 1500 plus.

When time permits I will recheck it and post.

[JTLP]

From memory also, I thought the average was much less than that. Each to his own of course but I think AU gold will soon be back to 1500 plus.

When time permits I will recheck it and post.

From today's quarterly:

Leonora + Southern Cross - Cast Cost = A$995 per oz

Lower than expected production at Leonora resulted in higher unit costs of A$1,027 per oz

Southern Cross cash operation cost of $977 per oz.

For the 2nd half of the FY SBM hope to lower costs to between $830 and $850 per oz. They would want to increase production in line with the 130,000 to 150,000oz forecast.

I DNH and no hard feelings Explod!

[Family_Guy]

A real dog this stock, and my thoughts are it's become a risk stock. I know all stocks are risky, but this one has crossed the line. But i'm on with a small bet at 23c just in case it does drop further. I dont know much about this ceo wheather he is full of hot air or not, but obviously some issues with a production drop and cost increase.

[nick2fish]

Agree totally and with production costs as stated, coupled with shares on issue numbering over the billion mark, I won't be revisiting this gold play, ever.

[kennas]

From today's quarterly:

Leonora + Southern Cross - Cast Cost = A$995 per oz

Lower than expected production at Leonora resulted in higher unit costs of A$1,027 per oz

Southern Cross cash operation cost of $977 per oz.

For the 2nd half of the FY SBM hope to lower costs to between $830 and $850 per oz. They would want to increase production in line with the 130,000 to 150,000oz forecast.

I DNH and no hard feelings Explod!:eek: Cash costs of around $1000! Crikey! I mean, gold is probably going to stay above $750 an oz, and possibly go much higher once inflation explodes because of all this money being printed, but maybe not. No room for error here. Wonder how they are going to reduce cash costs from here. Surely it's as cheap as it's going to get to operate a mine right now? Yes, maybe risky play at the moment.

$1000!! :eek:

[explod]

I DNH and no hard feelings Explod!

On the contrary JTLP thanks for your input, I did say "a punt" and pleasing to see the contributions for caution.

[oldskool]

Clearly the results were abysmal. Why on earth one would want to punt on this dog when there are low cost goldies trading at ridiculous cheap levels. highest risk / reward ratio out there imo. production downgrade was not substantiated? why so little production ? once again, institutions had the inside mail on this and sold her down aggresively. Retail investors be very careful in buying.

[oldskool]

absolute dog. this probably will collapse. pog will be equal to or less than cash costs. simply not sustainable. if the markets recover then gold will fall off. what a high risk play.

[Anthony Hosemans]

Baillieus have put out a speculative buy on SBM recently, valuing it at between.36 and .69 cents. I have already traded them this year buying at .23 and selling at .39. and making a nice profit. Being a contrarian I rebought back in after the 6 cent drop on their recent announcement and am already up on that purchase. The costs for production of an ounce is over the top at the moment but i believe the new CEO knows what he is doing and costs will be reduced.This stock not necessarily for the faint hearted but there are buying opportunities every so often. Regards Kooka.

[Ruincity]

absolute dog. this probably will collapse. pog will be equal to or less than cash costs. simply not sustainable. if the markets recover then gold will fall off. what a high risk play.

Good article on why this statement of yours regarding market recovery and gold "falling off" is very possibly built on nothing but speculation.. http://www.zealllc.com/2009/goldspx.htm
Some facts and history there worth your perusal.
I hold a small parcel of SBM and while I agree that they are a high risk play I am happy to follow this one up with stops in place.

[cookiedude]

US Stocks took another smack in the jaw yesterday. The Dow dropped 106.41 to 8,362.70 and the S&P500 dropped 11.4 to 896.95. Dow may be beginning to roll over - if this is the case - expect POG to rise...

[oldskool]

absurd. costs are far too high. clearly being sold down very aggressively. why on earth would one buy this ? there are so many other low cost producers. pog would have to break $2000 for this to be reweighted. maybe 2nd half of next year. ? fair comment ? maybe a parcel at 21 cents would be worthy of a punt. opinion experts welcome.

[eddyeagle]

Is the share price of SBM ever going to increase????? :banghead:

What a frustrating stock!

Maybe if gold gets to USD $1500 SBM might actually do something!

[jman2007]

Is the share price of SBM ever going to increase????? :banghead:

What a frustrating stock!

Maybe if gold gets to USD $1500 SBM might actually do something!

The last Quarterly was a bit of a tale of woe eddy,

Extremely high production costs for almost all of their operations, and the underground grade at Gwalia just isn't going to cut it at 4.8g/t. Although some suggestion that the ongoing development will eventually access the higher grade lodes. Interesting to see if they can get costs < $A900. If POG takes a dive, these guys are for the high jump.

[N1Spec]

all will be revealed in August when the independent expert report/reccomendation on making their operations efficient will be announced.

[jman2007]

all will be revealed in August when the independent expert report/reccomendation on making their operations efficient will be announced.

Two months can be a very long time between drinks in the mining industry N1Spec, and I'm not sure the market will grant them that much leniency. Hopefully the long-suffering shareholders will be given at least few updates between now and August, and not have some unforseen bombshell dropped on them out of the blue, which would be extremely damaging for the company.

[oldskool]

Cost too high. Aus $ is rising. consequently SP will be squeezed somewhat. A good buy prolly in a month or so. Then sit it out until December when pog is towards $1200 oz. risky business. iron ore flavour of the month. not sure inflation is important until disinflation completes. people getting ahead of themselves imo. buyer beware.

[refined silver]

Goldies with costs = to price of gold (POG) are highly leveraged both ways.

A producer with $700/oz costs when POG is AUD$1200 makes $500/oz. Gold goes up $100, they make $600/oz. 20% increase in profits.

A producer with costs of $1000/oz when Pog is $1200 makes $200/oz. If POG goes up $100, they make $300 profits or a 50% increase.

In my humble opinion SBM may be close to its lows.

[ndpjai]

Goldies with costs = to price of gold (POG) are highly leveraged both ways.

A producer with $700/oz costs when POG is AUD$1200 makes $500/oz. Gold goes up $100, they make $600/oz. 20% increase in profits.

A producer with costs of $1000/oz when Pog is $1200 makes $200/oz. If POG goes up $100, they make $300 profits or a 50% increase.

In my humble opinion SBM may be close to its lows.


Hi

U r absolutely correct, i think it is close to its support levels. I hope there is some announcement from the company soon.

Cheers
Jai

[jman2007]

Jeepers! :eek:

How on earth are SBM going to dig themselves out of this hole? Touched briefly on 19.5c today, and looks to have dropped through historic support levels during the last few weeks. It will be a massive ask to expect the incoming MD to make a material impact on the cost curve in such a short time, in fact it may have to be a 12-18 month mid-term plan. I'm not too sure tbh, just throwing some ideas out there.

Ultimately, it is probably the long haulage up the decline at Gwalia that is bleeding them dry, perhaps the answer to reducing costs at Gwalia may lie in the scheduling of the ore haulage.

[eddyeagle]

The chart does not look good at all! Locked in a firm downtrend!

Hopefully it finds some support at current levels!

[noirua]

"June 2009 half production achieved forecast": http://www.asx.com.au/asxpdf/20090710/pdf/31jhp4yhl92763.pdf

[explod]

I think that the latest report is very reasonable and that good reductions to production costs are going to be achieved with the direction now. Certainly a lift in the gold price is needed. I will be again looking at this one at this level.

Folowers obviously a bit spooked by the current drop.

[Uncle Festivus]

The notes payback is the issue, as they currently don't have enough funds to pay it back when due, unless they start selling things and/or another capital raising of some sort. The second problem is equity dilution, which is negating any upside from any production efficiencies and gold price appreciation.

The next 12 months is critical for SBM, so unless & until a satisfactory outcome for the notes is achieved in the meantime, and if the general market comes under pressure also, then 4.5% in the bank might give a better return. For me it's outside of my risk/return channel.

[noirua]

The notes payback is the issue, as they currently don't have enough funds to pay it back when due, unless they start selling things and/or another capital raising of some sort. The second problem is equity dilution, which is negating any upside from any production efficiencies and gold price appreciation.

The next 12 months is critical for SBM, so unless & until a satisfactory outcome for the notes is achieved in the meantime, and if the general market comes under pressure also, then 4.5% in the bank might give a better return. For me it's outside of my risk/return channel.

Yes, all this borrowing and ultimate reliance on Gwalia Deeps coming out great increases the risk factor. Stock seems very cheap if all goes well but the downside on a future low gold price, doesn't seem likely at the moment, is cause for weighing up the risk factor.

Possibly a useful stock to spice up a heavier low risk portfolio.

[kennas]

Possibly a useful stock to spice up a heavier low risk portfolio.HUH? :confused:

Nice idea. I'm going to go out and purposefully buy a stock to make my portfolio more risky. Sounds useful! LOL :)

They tried to paint a fluffy picture in the strategic review but had to admit:



• Forecast cash for June 2010 not sufficient to cover potential full redemption of the convertible notes (currently A$77.1m) on 4 June 2010
• June 2010 cash position is challenging and made more difficult by
– Inability to arrange normal working capital and environmental bond guarantee facilities in the current economic climate
– Potential for WA Government to lift moratorium on environmental bond rate increases from Dec 09
– Gold price volatility risk
So more dilution to come.

What's the go with the issue of option to the CEO?


18 May 2009
Following shareholder approval at an Extraordinary General Meeting held on 5 May 2009, the Company has issued Mr Tim Lehany, Managing Director & CEO with 1,508,099 employee options.

For what? Taking the company to a fresh lows? :eek:

Those 200m shares issued at 41c were a good pick up. :eek7:

Cash costs still around $1000 is the killer.

The only way to play this is to trade it. And the only way to make any money that way would have been shorting it.

Continues to set low targets and fails to achieve them.

[noirua]

A wild and woolly stock is SBM the former Endeavour Resources. Always a survivor despite extreme problems at times and has always come good in the end for patient investors.
A great ride in the bucking bronco stile, just hold on.

Boomed in the 1970's and right up to the 1987 crash. Well published for its mid 1990's rocket to around $3.00 in the Atkins boom days and its slide to 2 cents in the early 1990's.

Never give up on SBM, that's my view anyway, my blog1 shows the reason why it remains my best friend.

[kennas]

A wild and woolly stock is SBM the former Endeavour Resources. Always a survivor despite extreme problems at times and has always come good in the end for patient investors.
A great ride in the bucking bronco stile, just hold on.

Boomed in the 1970's and right up to the 1987 crash. Well published for its mid 1990's rocket to around $3.00 in the Atkins boom days and its slide to 2 cents in the early 1990's.

Never give up on SBM, that's my view anyway, my blog1 shows the reason why it remains my best friend.Surely this is not anything that Endeavor ever was?

Just checking their past anns and presentations to check what they've been promising to deliver.

Interesting slides from an Aug 07 Diggers and Dealers piss up:

Objectives - 2007/08
�� Produce 175k oz pa @ A$505/oz cash cost at Southern Cross
�� Expand open pit reserves at Southern Cross and Leonora
�� Hoover Decline to reach reserves by March 08
�� Recommence Gwalia gold production by Sept 08
�� Discover nickel and copper/zinc at Leonora
In preparation for 450,000 oz annual production

Longer Term Objectives by 2010…
�� Expand Southern Cross & Leonora production to
600,000 oz pa
�� Moving from 3rd to 2nd quartile of Australian cost curve
�� Pursue growth through acquisitions
�� Convert exploration successes into shareholder wealth
Cash flow funds aggressive growth


600K oz au by next year! Whoohoo!!

:rolleyes:

Lets see if their targeted gold production of 295,000 – 315,000 ounces in FY09 is met.

The Sep 08 was 36k, Dec 08 was 67k, Mar 09 was 60k, so the June Qtr will need about 150k oz. Hmmmm

[refined silver]

I only skim read the news release but thought it said closing down for the moment one of the mines which is producing about 50% of its gold.

Big problems with convertible note in 12 months too.

Could be close to support or could still halve from here.

Like I said, a very highly leveraged play on the price of gold.

[kennas]

Like I said, a very highly leveraged play on the price of gold.Yep, for better, or worse. Huge risk if POG doesn't go verticle like we expect. Lets just imagine for a moment that POG corrects back down to the $600s and the AUD strengthens. SBM cash costs remain about $900-1000, AND they limit production. Debts, no cash flow, market in depression, can't raise money .... :eek7:

Or, everything is rosey! :)

[jman2007]

The notes payback is the issue, as they currently don't have enough funds to pay it back when due, unless they start selling things and/or another capital raising of some sort. The second problem is equity dilution, which is negating any upside from any production efficiencies and gold price appreciation.

Yeah I agree,

Perhaps their best option may be to try and negotiate an early conversion of the notes with the major holders, at a discounted rate (I'm not sure what the notes are currently worth). Despite the understandable and predictable reaction from the smaller investors, this would still clearly be a better outcome than sending SBM to the wall.

[noirua]

Yep, for better, or worse. Huge risk if POG doesn't go verticle like we expect. Lets just imagine for a moment that POG corrects back down to the $600s and the AUD strengthens. SBM cash costs remain about $900-1000, AND they limit production. Debts, no cash flow, market in depression, can't raise money .... :eek7:

Or, everything is rosey! :)

This guessing game could go many ways and gold could go to $1200 oz quite easily and the Aussie back to AU$1.50 to the greenback.
That's the risk factor and it's a matter of accepting risk and of course managing it.

[kennas]

I can't even see why anyone would look at the depressed price and consider them a takeover option. It's a bit like CTO. 10m oz au (somewhere) in the ground, but just can't get it out. Too deep, too complex, too hard.

I hope POG does go verticle, and they can turn it around for buy and holders.

[kennas]

LOL

And how about this slide from a presentation last year.

1m oz au by 2010?

LMAO

Have they even got a mill that can do that?

:confused:

[noirua]

LOL

And how about this slide from a presentation last year.

1m oz au by 2010?

LMAO

Have they even got a mill that can do that?

:confused:
These things do go wrong at times. One of my coal stocks that went into pig iron production forecast 2.5 million tonnes per annum by 2004. Result in 2004 was zero production.
They forecast $78 million profit in 2006, when we got there it was less than $30 million.
This year profits are around $400 million.

Patience is a virtue, and just like SBM a gutsy hold.

[kennas]

These things do go wrong at times. One of my coal stocks that went into pig iron production forecast 2.5 million tonnes per annum by 2004. Result in 2004 was zero production.
They forecast $78 million profit in 2006, when we got there it was less than $30 million.
This year profits are around $400 million.

Patience is a virtue, and just like SBM a gutsy hold.Well, this isn't just 'go wrong' imo, but spectacularly poor communication, management, and real knowledge of your people and resources. During a time when POG is at all time highs. Maybe Ed was the issue and hence the sudden change in CEO. Keeping him on as a 'consultant' because he knows the projects so well is a bit of a joke.

I would actually be interested to know the details of the processing facility capacity. On a range of 5-10 g/t to produce 1m oz au pa would require a 5-10m tpa mill. If Chicken was still about he would know of course. He believed everything Ed said too. lol

[noirua]

Well, this isn't just 'go wrong' imo, but spectacularly poor communication, management, and real knowledge of your people and resources. During a time when POG is at all time highs. Maybe Ed was the issue and hence the sudden change in CEO. Keeping him on as a 'consultant' because he knows the projects so well is a bit of a joke.

I would actually be interested to know the details of the processing facility capacity. On a range of 5-10 g/t to produce 1m oz au pa would require a 5-10m tpa mill. If Chicken was still about he would know of course. He believed everything Ed said too. lol

I bought my first shares in the 1970's, can't check the date as the files in a loft over 19,000Km away.

SBM has a hope and dreams factor than can become extreme. Sure you can say I once bought at 4c to 8c and sold from $1.80 up to $3 - basically it was a dream and the major holder Mr Atkins (he bought from the ONCE infamous Mr Bond - back in mining as a successful director and investor again), who became one of the richest directors in Australia, was bankrupted not many years after. I only sold because I was desperate at the time.

Am I suggesting that all the goings on of the past could happen ...

[Trembling Hand]

What a classic example of hope and fundie "value" getting smashed on the sea of reality,

Price.

Its been a pig to holders long before any of the outsiders started to see the fundamental flaws in this mangey dog.

[noirua]

What a classic example of hope and fundie "value" getting smashed on the sea of reality,
Price.
Its been a pig to holders long before any of the outsiders started to see the fundamental flaws in this mangey dog.
High risk stock. Only invest what you can afford to lose.
So many young people do research and think this is the way to make a fortune. Along comes a bear market in mining stocks and you've seen nothing yet, believe me. That feeling of being all but dead in the water is something that remains for the rest of our lives - get a life belt, a safe investment policy that still allows risk, we can learn from it.

[kennas]

I bought my first shares in the 1970's,But noirua, this is not that company. :confused:

Some emotional baggage to be defending them now, I feel.


On the positive side, you can not argue with a JORC 10m oz au at 10g/t. No matter how deep. AND are building up a 2m + @ 15g/t deposit in Patagonia (almost) at 500m ++ and their mc is off the planet. Overpriced imo, but nonetheless, off the planet. Perhaps their troubles will come when the true Capex and realistic Opex is announced, or proved underdone.

For SBM, I say again, they continued to dramatically fail to achieve. And have so for 2 years.

What were they thinking with claiming 400-600k oz au about now, and 1m oz au next year. :confused:

High potential for this to go completely belly up in this environment and shareholders to receive whatever the administrators can salvage from the sale of assets.

I hope I am wrong. Maybe that 10m @ 10 g/t is just around the corner, and they learn how to get cash costs back to $500 which would be reasonable.

[refined silver]

Nouria's blog tells his story in SBM.

If POG goes thru $1000 and keeps going, SBM will do very well, if POG drops further or stays rangebound in the 800s and 900s, or even 700s, SBM could lose 50% or more from here. That is a bummer if you are holding now, but if you are not, sets up the sort of entry that made Nouria.

[kbxk508]

I only skim read the news release but thought it said closing down for the moment one of the mines which is producing about 50% of its gold.

They will cease open pit mining of small, low grade deposits at Southern Cross by the end of July 2009 but will continue with the Marvel Loch underground mine for their Southern Cross operations and are targeting 110-130 koz at 840-930 A$/oz in FY10 down from 155-160 koz in FY09, ... , with a stronger emphasis on lower-cost, higher margin gold production.

You can't look back - the strategy of more gold production is being replaced with a stronger emphasis on lower-cost, higher margin gold production - the new CEO has been in the job a short time and needs time to deliver along with sufficient funds to meet FY10 obligations (probabaly A$m 60-100) and/or a higher Aus Gold price (wouldn't hurt).

All attainable in my opinion.

There are no ridiculous projections in the three year plan and all seems reasonable, realistic to me and is supported by the Jun09 Half production 134koz which was within guidance 130-135 koz.

Note: Gwalia is a massive Resource with enormous potential as reflected in the Jun09 Half results - 27.9koz at $434 per ounce at 7.2 g/t and 96% recovery in May/June alone.

Gold is in demand and will continue to be in demand - no need to panic.

I hold this stock and will look to add in the coming weeks/months at current and/or lower prices, cheers

kbxk508

[kennas]

You can't look back Can't look back? You don't think analysing how a company has performed and what it's resource base has produced has any merit? :confused:


There are no ridiculous projections in the three year plan


I agree that the NEW three year plan is more reasonable, but I wouldn't give them the benefit of any doubt in achieving it. It's a wait and see I think.

They are now plucking 500k oz pa by 2014 which seems lofty, and there doen't seem to be much backing that up. Still, a lot different to 1m oz by 2010! :rolleyes:

I am not surprised part of the plan is growth by strategic acquisitions. Obviously they can't make this work, so they need to buy some working assets to bump the numbers up. ;)

Good luck, I hope this new guy turns it around for you, and they start meeting these projections.

Are you happy with the assumptions for the 3 year plan? I've highlighted my concerns/risks.

Three Year Business Plan – Core Assumptions
1. The gold price assumption used to calculate gold revenues is A$1,200 per ounce throughout the three year period.
2. Gwalia annual production is based on a mine plan and reserves reported at 30 June 2008, modified only in areas of grade control drilling.
3. Southern Cross production is based on a mine plan. Production in FY10 and FY11 is substantially based on reserves reported at 30 June 2008, modified only in areas of grade control drilling. Production in FY12 is expected to come from existing resources conversion to reserves, supported by the extensional drilling program budgeted in FY10.
4. The Leonora and Southern Cross processing plants to operate on a campaign basis throughout the three year plan; Southern Cross plant to move to campaign milling in September 2009. The Leonora plant has been operating on a campaign basis since early March 2009.
5. Average plant recovery at Leonora is planned at 95% during the three year period, with the current average recovery percentage exceeding the business plan assumption. At Southern Cross the budgeted average recovery in FY10 is 89%, and this is planned to increase to 92% in FY11 and FY12 based on the ore source being Marvel Loch only.
6. Operating costs in the three year plan are based on current contracts, existing market conditions and knowledge of the operations. Operating costs have not been escalated for inflation during the three year period.
7. Cash operating cost per ounce represents the cash cost for production using the principles set out in the Gold Institute Production Cost Standard.
8. Capital expenditure estimates in relation to mine development are based on physical development scheduled in the mine plans and mining rates set out in mining contracts current throughout the three year period.
9. Capital expenditure estimates in relation to the processing plants and mine infrastructure are based on current costs and experience with the anticipated work to be completed for each capital initiative.
10. Funding required for the June 2010 Quarter is secured.
11. All financial data included in this announcement is still subject to financial year end audit.

[sydneysider]

HUH? :confused:

Nice idea. I'm going to go out and purposefully buy a stock to make my portfolio more risky. Sounds useful! LOL :)

They tried to paint a fluffy picture in the strategic review but had to admit:


So more dilution to come.

What's the go with the issue of option to the CEO?



For what? Taking the company to a fresh lows? :eek:

Those 200m shares issued at 41c were a good pick up. :eek7:

Cash costs still around $1000 is the killer.

The only way to play this is to trade it. And the only way to make any money that way would have been shorting it.

Continues to set low targets and fails to achieve them.

Technicals look like a falling knife, especially when volume follows trend down. Many spec stocks have rolled over. Interesting to note the struggle that is underway between the US$ and gold. It is very unfashionable to say this but the US$ may be in the early days of a decent rally. It currently sits on a 50 day moving average trendline IF it breaks up to higher levels may hurt stocks like SBM.

[eddyeagle]

I originally bought this as a Fat Prophets recommendation back in mid 2007. They have stuck with it until now but finally put a SELL on it yesterday!

[jman2007]

I originally bought this as a Fat Prophets recommendation back in mid 2007. They have stuck with it until now but finally put a SELL on it yesterday!

That's a shame eddy, hope you managed to salvage some of your initial investment from this stock, and have more luck with your next gold stock ;)

[king1978]

Hi,

Last I heard, Fast Eddy (former CEO) was still with the company (as a consultant?)

Is he still there?
If yes, does anyone know in what capacity? (e.g. full-time consultant working directly with the CEO, or 1 day a week and available for a phone call only)?

Thanks

[Miner]

I originally bought this as a Fat Prophets recommendation back in mid 2007. They have stuck with it until now but finally put a SELL on it yesterday!

Very Interesting to know it

Charlie Atkins at Eureka Report has recommended to buy St Barbara SBM
For those who do not know Charlie he was the one man show to predict FMG price to be more than $50 when it was only $8.

I am not suggesting if FP or Charlie was ramping SBM but I always take them as brokers with vested interest to manipulate market. DYOR and DNH

[explod]

I originally bought this as a Fat Prophets recommendation back in mid 2007. They have stuck with it until now but finally put a SELL on it yesterday!

Well now, must give it some serious consideration to get a few.

cheers explod


But have been wrong before so DYOR

[noirua]

Gwalia Deeps has had a question mark over it as Sons of Gwalia failed to get the mine going. SBM are getting over the problem with shafts from other mines. A long high risk project this, though providing money can still be found it should come good in the end - question is whether shareholders will have that much in the end with all the borrowing and extra shares issued.

[noirua]

Hannans Reward Ltd., has made a conditional agreement with St Barbara and Kagara Ltd for the Forrestania Nickel Project: http://www.asx.com.au/asxpdf/20090730/pdf/31jt6dnycp4d6k.pdf

[baroosh]

hello i have had a parcel of 500 st barbara shares since 1981 i paid 20cents a share they havnt done much since then should i sell them or wait another 3o years i reckon st barbara have spent more on posting me letters and brochures than the total amount of my shares any advice please:mad:

[kennas]

hello i have had a parcel of 500 st barbara shares since 1981 i paid 20cents a share they havnt done much since then should i sell them or wait another 3o years i reckon st barbara have spent more on posting me letters and brochures than the total amount of my shares any advice please:mad:LOL. Maybe you should start recycling all the annual reports and you will earn some money out of them. Do you have a desperate need for $70 after brokerage? Not supposed to give financial advice here, so you need to make up your own mind. Since 1981? :)

[Motogoon]

hello i have had a parcel of 500 st barbara shares since 1981 i paid 20cents a share they havnt done much since then should i sell them or wait another 3o years i reckon st barbara have spent more on posting me letters and brochures than the total amount of my shares any advice please:mad:

Dude, why didn't you sell them when they were up over 2 bucks in the 90's, would've been a nice 1000 percent profit!

[noirua]

The 20% rise in the price of St Barbara stock to 27c and over 40 million shares being traded, suddenly brings back excitement in the stock. Over the years SBM have never failed to dramatically surprise at times and with gold stocks very strong, these could well prove to be dirt cheap, though speculative, in the sector.

[noirua]

Leonora, Western Australia, the area that includes the Gwalia Deeps mine and the big future for St Barbara: http://www.stbarbara.com.au/our-operations/leonora/

[noirua]

Heavy trading continued on Friday with over 30 million shares going through. SBM are certainly now in the spotlights for recovery in the ever strengthening gold sector.

[Deadcat]

Hey Noirua, thought I would post so it doesn't seem that you keep posting to yourself ;)

I have noticed the amount of trades on this stock recently as well. In the past this stock has really given me the poops but am considering a punt. Will see what happens on Monday.

Are you in at the moment?

[noirua]

Hey Noirua, thought I would post so it doesn't seem that you keep posting to yourself ;)

I have noticed the amount of trades on this stock recently as well. In the past this stock has really given me the poops but am considering a punt. Will see what happens on Monday.

Are you in at the moment?

Yes Deadcat, I have a holding which represented about 40% of my original purchases which I failed to sell at much higher prices - purchased at 40c a share. Added some at an average of 24c a share from sale of my coal stocks - one punt to another.

[noirua]

Starting to bounce along now as the gold stock near everyone dumped is coming back to the fore. Not sure how they managed to plummet quite so low but now looking good on the back of the gold price and the now less conspicuous borrowings - 27c close today.

[ptony1948]

Still very wary of this stock. Was called a "dog" in past posts and that's exactly how I felt at the time too. I'd bought at 25, saw it go up to 42 and then plummet back down to 18. Here's my chance again to exit with profit. But , as before, human nature says "get as much as you can", and there's the dilemma. Don't want to miss out/don't want to lose out. I still don't like this stock and once out that will be it.

[explod]

Still very wary of this stock. Was called a "dog" in past posts and that's exactly how I felt at the time too. I'd bought at 25, saw it go up to 42 and then plummet back down to 18. Here's my chance again to exit with profit. But , as before, human nature says "get as much as you can", and there's the dilemma. Don't want to miss out/don't want to lose out. I still don't like this stock and once out that will be it.

I know the feeling but focus on what the capital could be doing elsewhere. Once I got that into my head my trading improved markedly. Of course adhereance to a trailing stop criteria is where it is at from the cold perspective.

Having said that, if the gold price continues to rise a bit more you may well soon see your 40 cents again.

Your decision and I am not qualified to advise. Just two bobs worth

[noirua]

Still very wary of this stock. Was called a "dog" in past posts and that's exactly how I felt at the time too. I'd bought at 25, saw it go up to 42 and then plummet back down to 18. Here's my chance again to exit with profit. But , as before, human nature says "get as much as you can", and there's the dilemma. Don't want to miss out/don't want to lose out. I still don't like this stock and once out that will be it.
Yes indeed, it was called a dog on very many occasions, by myself included, but turn the word round and it becomes god.

[kennas]

Good bounce up, yes. How much is due to the quality of the company, or to POG about to hit all time highs? Hard to tell.

[Uncle Festivus]

Good bounce up, yes. How much is due to the quality of the company, or to POG about to hit all time highs? Hard to tell.

All looks to be a little overdone as the AU price still can't crack $1200, a long way to $1500 again?

[noirua]

All looks to be a little overdone as the AU price still can't crack $1200, a long way to $1500 again?

Though the reason for not cracking AU$1200 is more to do with the strength of the Aussie, and that because of furious buying of commodities by China and a sudden turnaround in foreign interest in shares and mines.

SBM are I now believe to be playing catchup and the first target staring us in the face is 40c.
Declaration - I have built what is a quite large holding for me on sale of coal stocks and Wesfarmers - so I have a personal reason for being bullish as well.

[baroosh]

hello can anybody tell me is it worth hanging on to a parcel of 500 st barbara mine share .i have had them since 1981 and paid 20 cent ordinary share for them they really havnt done much . also for a few years i recieved a cheque for $20.00 . but nothing for the past ten years i would not recommending anyone to buy st barbara mine shares not a good investment any reply would be great cheers:confused:

[baroosh]

Good bounce up, yes. How much is due to the quality of the company, or to POG about to hit all time highs? Hard to tell.
all they seem to do is vote for a new chairman what about my investment done jack**** for 25 years

[kennas]

500 shares? So, they're worth about 150 bucks. Depending on your brokerage you could ditch them and you'd have enough money for a nice bottle of wine, less tax on the capital gains, so maybe just an OK bottle of wine. If you really think they're that bad and going nowhere that wine sounds tasty to me. But of course, we can't give financial advice here, it's against the rules. Good luck!

[noirua]

St Barbara's new presentation - stock price 31.5c up 2c today: http://www.asx.com.au/asxpdf/20090916/pdf/31kr6mlzc0l2qt.pdf

[Anthony Hosemans]

I have traded SBM several times over the years, and have just sold at 31.5Cents, hoping to buy at below 25cents in the near future. What has kept me interested is the money they have been able to raise from institutions in the oast few years. An issue last year was fully underwritten at 40cents per share. They do however have the ability to use up their working capital fairly quickly, but don't necessarily increase their output of gold. Regards Kooka

[kennas]

I had only just picked my jaw up off the ground after seeing PRU wanted to issue a bunch of long term options to a director at a couple of % above the current sp when I saw this one.

Issue of Employee Options with Performance Hurdles to Managing Director & CEO
1 October 2009

A total of 5,857,320 employee options are proposed to be granted to Mr Tim Lehany, Managing Director and CEO in respect of the fiscal year 2010 Long Term Incentive allocation, subject to shareholder approval.

The exercise price of $0.306 per option was calculated as the volume weighted average price measured over the 10 business day period immediately preceding 23 September 2009,

Key terms are as follows:
Grant Date: with effect from 23 September 2009 subject to shareholder approval
Vesting date: 23 September 2012
Expiry date: 23 September 2014
Exercise price: $0.306 per option


WTF!! The current price is 27c, what sort of incentive is that.

Just disgraceful.

Maybe it's a joke? It's the first of some month...:mad:

[swm79]

I had only just picked my jaw up off the ground after seeing PRU wanted to issue a bunch of long term options to a director at a couple of % above the current sp when I saw this one.

Issue of Employee Options with Performance Hurdles to Managing Director & CEO
1 October 2009

A total of 5,857,320 employee options are proposed to be granted to Mr Tim Lehany, Managing Director and CEO in respect of the fiscal year 2010 Long Term Incentive allocation, subject to shareholder approval.

The exercise price of $0.306 per option was calculated as the volume weighted average price measured over the 10 business day period immediately preceding 23 September 2009,

Key terms are as follows:
Grant Date: with effect from 23 September 2009 subject to shareholder approval
Vesting date: 23 September 2012
Expiry date: 23 September 2014
Exercise price: $0.306 per option


WTF!! The current price is 27c, what sort of incentive is that.

Just disgraceful.

Maybe it's a joke? It's the first of some month...:mad:

haha

maybe its an incentive to make the options cheap? turn this thing into a 50c coy and your 30c options will start looking good!

with that said its only fair he gets offered weighted average when thats what the rest of us have to (generally) suffer when there is an SPP

[Albi]

:D Nice volume and nice prise rise. A good news is about to come or sp rise is just based on rumours. At all this stock save me. I was about to sell it at .290 and after five minutes it was on .30. Hope tomorrow will also rise at least 6%. Hope to cover some loss of BBI.

[Albi]

WOW again 8% up and nice volume. It is more than 39 m. I am hoping some good news is about to come. SBM is improving slowly. Most of sp was on .33 cent. Is some one buying or selling ?

[noirua]

WOW again 8% up and nice volume. It is more than 39 m. I am hoping some good news is about to come. SBM is improving slowly. Most of sp was on .33 cent. Is some one buying or selling ?

Hold on tight as SBM are taking off, and I'm afraid some detractors have forgotten to change horses. Jump off those cart horses and jump on to a thoroughbred! Have you left it too late though? Who knows?.

The gold price rise is a good factor here and that presentation to Deutsche Bank at the Emerging Miners Conference went down well.
A high risk stock in a high risk sector are SBM, but many are smiling again now.

[Albi]

Hold on tight as SBM are taking off, and I'm afraid some detractors have forgotten to change horses. Jump off those cart horses and jump on to a thoroughbred! Have you left it too late though? Who knows?.

The gold price rise is a good factor here and that presentation to Deutsche Bank at the Emerging Miners Conference went down well.
A high risk stock in a high risk sector are SBM, but many are smiling again now.

Thanks Noirua, I have been dealing with this stock quiet a long time so know it well. I came out this morning, know well that gold price is also a factor. My theory is small and safe trading except i stuck in BBI. That was really a very stupid decision.

[noirua]

Thanks Noirua, I have been dealing with this stock quiet a long time so know it well. I came out this morning, know well that gold price is also a factor. My theory is small and safe trading except i stuck in BBI. That was really a very stupid decision.

This stock saved my life about 15 years ago. I've learnt it's one to watch carefully, "a stock that MAY WELL zoom and crash". Up to 34 cents now and has done better than my coal stocks I exited from (except FLX a gamble as well).
I don't doubt the high risks but I trust the old Sons of Gwalia mine at Gwalia deeps!

[baroosh]

how can st barbara justify by handing out 5000000 share valued at 36 cents to the ceo

[kbxk508]

how can st barbara justify by handing out 5000000 share valued at 36 cents to the ceo

Gee, maybe he should get 500 shares and just get on with it - 6 months ago the company was down and out.

The name of the game is to deliver on potential and if he can do that the shares wil be worth a lot more than 30c and he deserves to be rewarded and so do the current holders. If not, then it most likely will be a Lot less and nobody wins.

There is no grey area, either you deliver and shares go up or you don't and shares go down - time will tell.

[noirua]

Sri Lanka joined India in favouring holding gold rather than US$s. The gold price is pushing gradually to higher peaks, despite the Aussie strengthening.
SBM are looking good now at 34 cents and profits are likely to rise dramatically if the upward gold price trend continues.

[noirua]

A good chance of a breakout now on the news that SBM may bring the Tarmoola Mine back into production with 370,000 oz at 6g per tonne. The Gwalia mill could be used situated about 40km away at Gwalia, Leonora.
Price closed at 36.5c in heavy trading at 31,371,357 shares.

[VViCKiD]

SBM performing another capital raising .. What does everyone think of this ? Good timing in light of high POG ?

[wbosher]

I've never experienced a capital raising before in a stock that I held. I understand that the SP goes down due to the dilution effect, does it generally rebound fairly quickly or can this take quite some time?

[$20shoes]

This mob should run the Good Friday Hospital Appeal. They're experts at drumming up money and not much else, esp everytime this stock gets a sniff. Coincidence..i think not. Speaking of a sniff, something stinks around here.:eek7:

[noirua]

After all the fund raising to play down debts SBM have held up well to close on Tuesday at 35cXE. The gold price rise, despite the Aussies strength, has been a factor to allow the company to make its move. Difficult to say whether St Barbara can march on with this overhang, so its more patience required here by the bucket load, me thinks.

[Supra]

The Long suffering share holders in SBM have put up more cash to try to reduce SBM's debt. With the current high price of gold, it's about time the mines started to pay their way.

I worry SBM may meet a similar fate to the previous owners of these mines.
Sons of Gwalia went under, due to entirely different circumstances I know. I was one of the lucky holders of Sons of Gwalia, who got out before the collapse in 2004.

An interesting week coming up, with a correction in the gold price in $US & a drop in the value of the $A we may even see the gold price move up in $A terms. SBM will be very lucky to hold the mid 30 cent range.

[noirua]

The Long suffering share holders in SBM have put up more cash to try to reduce SBM's debt. With the current high price of gold, it's about time the mines started to pay their way.

I worry SBM may meet a similar fate to the previous owners of these mines.
Sons of Gwalia went under, due to entirely different circumstances I know. I was one of the lucky holders of Sons of Gwalia, who got out before the collapse in 2004.

An interesting week coming up, with a correction in the gold price in $US & a drop in the value of the $A we may even see the gold price move up in $A terms. SBM will be very lucky to hold the mid 30 cent range.

Fair comment! Though the situation of St Barbara has improved in my view as the risk over all the borrowings on the loan book are markedly reduced.
As you say and infer, the collapse of SOG was due to selling gold forward and having to buy gold at higher prices to fulfill these forward deals, as the Gwalia Deeps mine proved too much for them.

Hopefully SBMs methods to reach gold up to 2,000 metres deep has proved more successful with access shafts from other mines and using processing plants at these mines.

I feel quite confident now, once the indigestion problems are over and providing gold prices hold, that St Barbara's situation for producing gold looks set fair.

[Supra]

Thanks for you post noirua.:)

The Gwalia Deeps promise so much, but the development works require a considerable amount of money.

SBM have some very good mines with good grades, it's just the cost of the development that may hinder the company till the price of gold picks up in A$ terms. I don't think that point is far away. Then we may see SBM's SP reflect the quality of the mines.:D

[kennas]

I've been a long time critic of SBM because of some rather overoptomistic development and production guidance at the hands of old mate Ed, and high cash costs. Since the new boss has taken the helm it seems some sence of rationality has come about and they are making way.

14 Jan in Egoli news:


St Barbara on track to meet guidance

St Barbara Limited (SBM) reported that production was steady and in line with expectations over the last quarter. As a result the Aussie gold miner reaffirmed its guidance of achieving production of between 205,000 and 240,000 ounces at a cash operating cost of between $745 and $820 per ounce for the 2010 year.

The company said that in the fourth quarter the company produced 55,104 ounces of gold, with the gold being shipped at an average price of $1,210 per ounce.

Across its operations the company’s Leonora mine in Western Australia produced less gold at 25,043 vs 30,060 than its Southern Cross mine, though the gold was produced more cheaply.

The miner, which doesn’t have any gold or currency hedging, had reported cash of $167.6 million.
Cash costs will always be relatively high for them I suppose, but starting to hit some targets by the look.

Trading at just $22 an ounce. A quarter of some African explorers. Market still doesn't like them...

[kennas]

Any holders, or anyone care to speculate why SBM seems to be trading at a big discount for a producer, at around $24 an ounce.

Is it cash costs around $800? (LGL and NCM are under $400 I think.)
Risks associated with future production?
Life of mine?
Legacy distrust in management?

I mean, producting 250k pa ish is a pretty solid footing isn't it?

Many grass roots explorers are far more expensive.

:confused:

[sptrawler]

From memory aren't St Barbara using all their profits to try and develop the Gwalia deeps at Leonora. Which is a fairly long decline from the bottom of the Gwalia open cut. With this taking up any cash flow, investors may be staying away untill the mine starts paying a return to investors. This Gwalia deeps has been on the go for quite a long time. Anyway as I said it is only from memory I may be wrong.

[noirua]

St Barbara moved forward 4c to 31c today following the CIU conference and presentation by the company's CEO. This followed the European Presentation last month. As the Gwalia Deeps mine is further developed gold production is expected to improve quickly.

[kennas]

St Barbara moved forward 4c to 31c today following the CIU conference and presentation by the company's CEO. This followed the European Presentation last month. As the Gwalia Deeps mine is further developed gold production is expected to improve quickly.The move was due to the CIU conference and a presentation by the CEO and the EU pres last month and GW development? Huh? :confused: Nothing else occurred overnight to push it up?

[Justinbhtan]

i think it is because of gold prices hitting a new high that pushed it up that day:P. lets hope that it will continue to go up haha.

[noirua]

The move was due to the CIU conference and a presentation by the CEO and the EU pres last month and GW development? Huh? :confused: Nothing else occurred overnight to push it up?

SBM did in fact make debt arrangements to free up $22 million in cash, and obtained price protection set at $1,425oz for King of the Hills. Anyway, a move in SBM these days is a little encouraging - Good Luck

[noirua]

St Barbara moved forward 4c to 31c today following the CIU conference and presentation by the company's CEO. This followed the European Presentation last month. As the Gwalia Deeps mine is further developed gold production is expected to improve quickly.

... and so St Barbara continues to improve. Debts are being dealt with and King of the Hills gold sold forward at a healthy $1,425 an ounce. That leaves for some price protection and the rest unhedged. At 37c close this weekend SBM are looking like an increasingly strong proposition.

[sptrawler]

Maybe SBM has finally got the punters attention gold is the only metal that has consistently trended up over the last 12 months. A lot of people are losing confidence in the currency systems.

[noirua]

Maybe SBM has finally got the punters attention gold is the only metal that has consistently trended up over the last 12 months. A lot of people are losing confidence in the currency systems.

Probably nothing once again as much can change before the start of trading. Bid is at 40c to buy 1,315,275 shares and offer at just 36.5c for 250,000 shares. SBM finished Wednesday at 37c.
Much may change but a large order is in the wings at the front of the grid at the start unless withdrawn.

[noirua]

Still at the same price as mid-June and I've kinda put these in the third drawer down, yes there are six drawers. The higher gold price is looking good and appearing to look ready to head on to US$1,400 an ounce, me thinks.
Many are now wondering about future dividends, well I am anyway, and the company needs to get its act together a bit more on the profitability front.
Always thought of the company being taken over at some stage and there appears nothing in the price for that possibility, imho.

[sptrawler]

It will be interesting to see how the share price holds up post the 1 for six share consolidation.

[noirua]

It will be interesting to see how the share price holds up post the 1 for six share consolidation.

Consolidations seem to work well when they come with good reason and a good market in the sector: Not during weak markets and an excuse to get out of a trough.
SBM have timed this quite well and it looks as if they have plans to have the stock quoted in other markets.
Everything on the gold price at SBM.

[noirua]

Consolidations seem to work well when they come with good reason and a good market in the sector: Not during weak markets and an excuse to get out of a trough.
SBM have timed this quite well and it looks as if they have plans to have the stock quoted in other markets.
Everything on the gold price at SBM.

Time to run that slide-rule carefully over St Barbara and access the risks and difficulties at the former 'Sons of Gwalia' gold mine 'Gwalia Deeps'. In my view a very interesting gold miner that probably can't be considered a minnow anymore.
History shows lots of financing problems over the very deep Gwalia Mine that have mostly been put to bed, thanks to the high gold price and the directors clutching the metal in the matter.

[noirua]

First speeding ticket for many a long year as SBM race on to 43.5c, and looking cheap when you consider they were over 80c a few years ago. A chaser of the gold price this one, so, if you think the gold prices is heading on up and up, jump onboard the good ship St Barbara.

At first I was annoyed I sold MCC, CEY and WHC to buy St Barbara at around 26c, but now I'm as pleased as punch.

[baroosh]

Reading the latest Share Magazine an intresting article caught my eye..SBM..who bought the gold assets from SGW...any comments ,or what do the investors think ???? Price is cheap enough...at present 11c...is there life in this stock...comments please...SHARE MAGAZINE thinks so... :2twocents

well if you want to wait over 30 years to even think about making your original investment back >I would think twice

[baroosh]

shareholders meeting on November 18thto vote on the issue of consolidating shares If approved a six for one consolidation would result in st barbara mines having around 326 million shares on issue , Question why would it be worth buying shares as they would appear to flood the market.:mad:

[baroosh]

how do i find out how many st barbara shares have been traded on a daily bases thanks

[kennas]

how do i find out how many st barbara shares have been traded on a daily bases thanksbaroosh, there's already a SBM thread, try using the search function, although this question might be better in the 'Beginners Lounge' Forum.

You can find this info a number of ways. Most charting programs have a 'volume' indicator that show daily volume as bars. Goung to the ASX web site and searching for SBM will also give you a host of information about the stock including daily volume.

[noirua]

baroosh, there's already a SBM thread, try using the search function, although this question might be better in the 'Beginners Lounge' Forum.

You can find this info a number of ways. Most charting programs have a 'volume' indicator that show daily volume as bars. Goung to the ASX web site and searching for SBM will also give you a host of information about the stock including daily volume.

Ahhhhhhh yes kennas: but could you PLEASE translate
these views into simple English for us lay-investors, and bullish, in SBM????

[explod]

The following daily chart for SBM has a very clear volume chart on the bottom. It is from "Bigcharts" which are easy to learn to use, they are clear to look at and are free.

Eg. two days ago it will be clear to see about 12 million shares changed hands.

But agree should go to newbie thread too. Covered similar on that thread recently.

[baroosh]

notice of general meeting 18th November The Directors advise that you vote in favour of all resolutions to be considered .......Q.. why should we i havn,t recieved a dividend for a couple of years they seem to reap the benifits of a few hundred thousand free shares and all the perks >hey what about me .I may be a small investor but if it wasnt for all the people who invested in the begining maybe the company would be so:banghead::banghead::banghead::banghead::banghea d: strong today