Ann: SDM $12.3m HY13 result in line with market e, page-2

re: Ann: SDM $12.3m HY13 result in line with ... SP hammered 13.5% today. yet report duplicates what SDM told mkt just 16 days ago in its update. Sp fell (briefly) below $1.00 on the news yet recovered powerfully only to tank with today's confirmation. When a company warns the mkt the result will be substantially lower than what was expected say 3-4 months ago, one can hardly expect the result (2 weeks later) to be any different. The outlook is subdued but causiously optimistic. New coal developments have slowed enormously and SDM looking to Africa to expand into new ventures. But margins in mining service companies are getting tighter and boom days are gone. Look at todays report from the 6oolb gorilla MDN. LCM out tomorrow. I'll be watching with interest and reckon 20-25% gain in earnings is likely. SDM cut interim div 33% today. Expect similar or slightly more re final div in August.