what's going on with sedgman

Mike,

Can you shed any light on what's going on. Can't seem to find any news that would cause it to drop. From a high of 1.70 on the 11th of Jan to a low of 1.20 today with no announcements coming out since the AGM on the 25th of Nov.

Reading through the CEO's report I find:

1.
Leading resource sector services company Sedgman Limited (ASX Code: SDM) affirmed its FY2010 profit guidance at the Annual General Meeting in Brisbane today.
2.
Although both projects are running behind Sedgman's original schedule, Mr Read said the Company was confident most of this delay could be regained.
"This means that full year earnings will be significantly weighted to the second half of the financial year," he said.
"Accordingly, we are holding our profit guidance although it now represents the upper end of expectations."

I think the market maybe smelling fear. Fear that what has befallen WDS may now happen to SDM. Fortunately SDM don't have PPT as a major shareholder.

If you can enlighten me as to why this is occuring, I'd love to know and may look to take a position.