I agree with you Giddyup, its difficult to chalk it up simply to bad luck. However bad timing is a bad decision if there were no constraints that forced the decision to place it now. I suspect the driver for the timing was the need for working capital to keep the drill program going. If that's the case it becomes good timing. From the outside its difficult for us to tell except from the quarterly cash flow statements. One thing I would say in relation to decisions is the price for the SPP - it may have been a bit too ambitious and perhaps should have been at the more conventional 20% discount to the SP at the time it was announced - that way more likely to get fully subscribed.
Anyway, as far as I'm concerned its a ST issue, and this time next year I'll be sitting on a much more expensive pile of options kissing photos of SSN management I'll hang on the wall of my study for making me so much money...:-)
Cheers, Sharks.
SSN Price at posting:
3.2¢ Sentiment: Buy Disclosure: Held
