tim lehaney took too much risk, page-5

how anyone can defend the decision on Allied is beyond me.
It was a poor decision because SBM paid too much for high cost producer which had no geographic synergy for SBM.
Last year SBM was becoming a cash cow , no debt and i would have been happy to continue to grow our cash position and prepare for both dividends , as well as looking for a asset buy at a cheap price versus the idiotic negotiation with Allied.
I sold out all my shares in sBM yesterday in disgust. In reason , the direction of Gold price now has greater downside risk , the debt levels of SBM increase the risk , the chance of any good news on the Allied assets is questionable. And lastly i have no respect for the SBM management anymore and would rather take my loss and look elsewhere.