Looks like they work from strength to strength. Given they had paid $16m in dividends and cash balance is up some $50m, they generated about $65-75m in free cash in one quarter. Gwalia grades are now around 0.4oz/tonne too. Well done!
Should they continue to operate as they do, they generate some $250-300m free cash in a year. This implies the current market cap of around $2 billion is still undervalued.
I had bought into SBM in July 2013 when it was 58c and then kept buying even into Dec 2014 when it had bottomed at 7c (but lowest I paid was 13c). Started selling in early 2015 at 34c all the way up to $2.70 or so in mid 2016. Held no more now but no regrets. Was a most inspiring journey, not without near depression when it bottomed.
This company is a most amazing turnaround story I've seen and experienced. I believe others who went through this will agree. Anyone also want to share this? Would love to hear from you all.
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