lift, page-6

Well, buddy you are in for a rude shock I'm afraid.

The reason SBM is getting smashed (with large volume) is, as is always the case, the fund managers know what has occurred on site and the punters dont. You get to find out in the quarterly once they cook up a story to try and explain it.


50k ounces will probably be more like what you are going to see.

The New MD is going spare because he was told it was all on target for 60K when he arrived and that is what he had been telling the analysts etc.

Well, only couple of weeks later, he receives news that there is a problem Huston and now he is going to look like an idiot (best interpretation).

You can basically slash the current production forecasts but nobody really knows by how much. But I'd start with 20K ounces for the next 12 months is my guess.

The company is now trying to get a handle on exactly where it lost all its production ounces and then attempt to cook up a credible story to explain it.

I'm starting to wonder if SBM is just hexed or something.

The instos that took the last placement will be furious as I would imagine will be the pommy fund manager which recently bought Macquarie's stake (assuming its not them already thumping their great wad of stock out onto the market).

Macquarie always seem to know how to escape from trouble.

The gold price weakness hasn't got much to do with this selling is my take, its the production issues that the insto shit-heads know about, but the average punter doesn't.

Buy, sell, hold? - no idea but clearly the large selling indicates some big shareholders are heading out the door before the quarterly arrives.

I don't own any by the way.