50c is a great buying opportunity

SDM (Sedgman) is another mid-cap mining engineering company that has been hammered by the mkt. Was 3.00 in mid May and today reached a post float low of 50c. Sedgman are THE bulk coal handling specilists in S. Hempisphere. They floated in June 06 but were established in 1979. Their list of clients is top shelf. The big Jap coal firms plus BHP, VALE, RIO, Anglo, Xstrata.
SDM has $700m of work booked and started for 2009. 5 weeks ago (20/11) management re-confirmed that SDM is firmly on track to post 15-20% profit increase in 09.
I expect Feb div of 4.5c and August 09 div of 6c making total payout 10.5c=21% Ffr. I seldom avaerage down but doubled my holding this morning as i trust management and order book is so strong.
Coal is going thru v. hard period. But Sedgman are the experts at building massive long conveyor belt systems which is the only economic way to handle bulk commodities either at mine site or port. Not many other firms offer this speciality. LEI often use SDM to install conveyor systems at their big projects.

See below extract from Nov ann.
Bugger.... wouldn't C&P but re ann yrself 20/11.