Dear Plucker This post suggesting management lied does you no credit.
From everone's perspective, in the absence of franking credits, it would be far better to pay down debt and also push for more exploration i.e. plan for the future.
Please dont expect high PEs when you have less than 15 year mine life and a track record of growing or replacing resouce levels.
The directors have every right to CHANGE THEIR STRATEGY. This company has had a stellar run over the past two years and by all accounts is a ripe take over target. How good dos it need to be before you stop questioning their integrity??
Another point: how many mines are there that issue a dividend in their first five years of production?? These guys have said they want to honour shareholders by paying regular dividends and they have commenced well. I see no problem in fine tuning that strategy if circumstances warrant it.
I am one happy camper in WSA W2
WSA Price at posting:
$6.52 Sentiment: LT Buy Disclosure: Held
