destined for further share price decline, page-72

Agree BF

SBM & s/holders have endured a perfect storm of influences over recent years but one aspect (largely controllable) is the impact of management decisions on this company. Cannot change the past , but they (mgt) can change the present & future direction of this company and position it for survival / growth based on cashflow positive / profitable activity . Why do they PERSIST with activities (exploration & development) in an environment POG is volatile & unreliable for foreseeable future? Is it because they want to retain their workforces at whatever shareholder cost (SP,CR) for the duration or a change would be admission to the s/holders that recent acquisition (ALD)wasn't such a good idea given current environment. As noted earlier , cash dwindling , large debt burden needs to be serviced, protection from hedgeing limited. Judgement day is near . I hope management at this inconvenient juncture see the light and embrass change. This company can still do it as it has the potential & capability. It may even change vision temporarily - put o/s mines on care & maintenance & use that money to acquire undervalued profitable companies depending on debt sevice arrangement. Just a thought.Maybe not. I just look at NST & all its timely recent acquisitions & compare & wonder - what if .
Cheers
venting LT holder

p.s - if no change occurs soon, cant wait to provide my proxies for this AGM. Don't want another sell job to occur.