SBM - St. Barbara Mines

[chicken]

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...

[chicken]

Has anyone read the article...interesting part where it says they have now got 10000km2...of the world richest undiscovered reserves...and they also say that it would cost $250million to reproduce the mines and with the gold they have it must be cheap...paid $38 million only and could very well be a giant in the making...they are hoping to produce up to 250000 oz. of gold what does the board think...I got aboard at 10c...today trading at around 11.5cents..cheapie with potential.....

[chicken]

Well, I just checked what they bought...and I like it...potential is hugh...also seem to have NICKEL potential...this might be the lode for this company...check it out its much bigger than I first thought......

[kooka1956]

I haven't read the article,but I remember back in the early 1990's,they had a mine in. W.A. which had huge gold reserves (' you could actualy see the seams of gold") which was not mined at the time because of heavy rains which flooded its mine. At the time it was deemed too costly to drain and extractthe gold then, maybe the time has now ripened.
Regards Kooka

[kooka1956]

I haven't read the article,but I remember back in the early 1990's,they had a mine in. W.A. which had huge gold reserves (' you could actualy see the seams of gold") which was not mined at the time because of heavy rains which flooded its mine. At the time it was deemed too costly to drain and extract the gold then, maybe the time has now ripened.
Regards Kooka

[chicken]

Kooka SBM bought the GOLD assets from SGW who went belly up...and the SHARE magazine had a full page written by TIM THREADGOLD a PERTH based business Journalist who has written for BRW he is also a geologist...so he understands what it is all about....Check what SBM posted the last few days....explaining what they intend in doing..I am just remarking on how hugh the gold assets really are...could be a big winner...as his last sentence said St BARBARA could be a sleeper waiting for a wake up call...the reserves they say they have are7.9 million OZ of Gold.....plus Nickel...assets...the new CEO is ED ESHUYS...who replaced Miller he is a prominent Geologist...they have 200 staff and produced 25000oz Gold last month...they also claim the assets they bought are worth $250million replacement cost also have reinstated contractors and have a land bank about 13000Km2..this could be a sleeper which will suprise...mines are operating and producing...annyway its in the MAY issue of SHARE magazine..I thought I bring it to the boards attention....also it mentioned that Resource Capital Fund and the St James Place Recovery TRUST..their stakes is 31.4% and 7.1% of ST BARBARA..

[chicken]

Their website is www.stbarbara.com.au

[chicken]

Annyone with more information on this stock or known facts as this one could go annytime higher see what I wrote..for gold buffs much of intrest I am holding stock as I feel this is a train at the station will move as soon as we get some anouncements....annyone?

[chicken]

This stock may jet supprise...read what they are doing...very intresting..could move quickly as GOLD and also Nickel will be part of their production..I bought 200K shares and feel what SHARE MAGAZINE said in their MAY issue could very well be the future for SBM...also checked where they are at...anouncement from SBM..intresting article on www.kitcometals.com re wall of worry and GOLD is featured as possible rise in price..NICKEL will rise as there is a world shortage...and SBM should anounce something soon they are drilling at the moment...at present price its cheap....the demise of SWG...has enhaced SBM as market maker ,check it out yourself.....

[doctorj]

Chicken, I always enjoy reading your posts, but I wish you'd consider using the occasional paragraph.

SBM are on my radar too, simply based on their cash flow relative to their market cap. Their is significant challenges ahead and the environmental bonds and other monies they will be required to spend to upgrade existing facilities are considerable.

It will be interesting to see how they perform over the next 12 months. I suspect it will go down before it goes up considerably. They don't have the capital to accelerate their progress and as noted above, they need to spend a lot!

[ob1kenobi]

It may be worth noting that St Barbara Mines

Average Price: 0.0828 (50-day) 0.0645 (200-day)

Average Volume: 4,632,600 (50-day) 1,940,300 (200-day)

It was at 0.10 per share at close on Friday, it lowest has been 0.04 and its highest 0.13 per share. Given the capital costs and associated on-costs, it would be hard to see it in the near term trading to much higher. I suspect it will hold to its moving average.


____________________
The above are merely my views and do not constitute advice. Please seek advice from a suitably qualified and licenced professional when considering your own financial objectives.

[chicken]

Quote: Originally Posted by doctorj Chicken, I always enjoy reading your posts, but I wish you'd consider using the occasional paragraph. SBM are on my radar too, simply based on their cash flow relative to their market cap. Their is significant challenges ahead and the environmental bonds and other monies they will be required to spend to upgrade existing facilities are considerable. It will be interesting to see how they perform over the next 12 months. I suspect it will go down before it goes up considerably. They don't have the capital to accelerate their progress and as noted above, they need to spend a lot!

[chicken]

Looks like something is up stock is rising at good volumes waiting for announcements should be good if they got it together also depending how much gold has been processed...I expect a good result...see one of Zinifex's directors on this board...I am not sure what it means but could be important...we shall see what is being played here.....their land bank of 14000 sq km might have something to do with it....but we soon will know won't we?

[chicken]

Quote: Originally Posted by chicken Looks like something is up stock is rising at good volumes waiting for announcements should be good if they got it together also depending how much gold has been processed...I expect a good result...see one of Zinifex,s directors on this boared...I am not sure what it means but could be important...we shall see what is being played here.....there land bank of 14000 sq km might have something to do with it....but we soon will know want we

[It's Snake Pliskin]

Looks like an accurate price reversal today. Down 8%.

[chicken]

Quote: Originally Posted by Snake Pliskin Looks like an accurate price reversal today. Down 8%.

[chicken]

Quote: Originally Posted by chicken Yes, but wait the announcements which should not be far of and yesterdays turnover of 20million shares will be nothing to what is to come....after all they bought the mines and processing facilities plus,lplus a lot more....as I said read and make your research a lot more will happen here

[chicken]

Quote: Originally Posted by chicken I emailed the company asking when we would get an update on the company...reply was promt and it said ST BARBARA is due to release its JUNE 2005 report by the end of july regards TRUDY LAWRENCE So we should see what they bring us..I have a feeling with high gold prices ,its all good....I hold 200k shares now and will see where they are going from here....this stock cannot be shortsold.....bound to be solid if they got it together.....

[Fleeta]

Glad to see you found something else to ramp Chicken!

I'm sure it will go up too....and BPC will hit $1.50 and ZFX will hit $4....what year are we talking about that this will happen?

[chicken]

Quote: Originally Posted by Fleeta Glad to see you found something else to ramp Chicken! I'm sure it will go up too....and BPC will hit $1.50 and ZFX will hit $4....what year are we talking about that this will happen?