Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi Guys SBM is a gold explorer and although the share price has moved higher this year its way OFF its highs from 4 years ago etc. They have a share offer now, what do you think, should shareholders take up the offer? Or sit tight or move on them and buy something that looks more promising? thanks for the service, always informative and engaging regards Peter
Hi Peter,
We don’t own SBM hence our comments are from the outside looking in so to speak:
SBM is raising $110 million in total to accelerate the expansion of its Simberi Sulphide project in PNG. This involves a $100 million placement and the mentioned $10 million SPP. The funds will support infrastructure upgrades, including a new ball mill, a wharf, and additional development at the mining site, aiming to bring forward production by up to five months. The expansion is expected to increase annual gold output to over 200,000 ounces starting from FY28, making it a crucial part of SBM’s growth strategy.
MM remains bullish towards gold stocks but we would rather stay with the strength such as Evolution (EVN) or Northern Star (NST).
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