Ann: Appendix 3Y Change of Director's Interest Notice, page-13

Interesting.

I am thinking about selling SBM, the directors selling was a concern, although there are valid reasons to sell after a stock has made so much money as you said yourself, and he might just want to buy something nice rather than a better investment. Strange no explanation though this time. SBM seems to be going with breaks on compared to most other goldies so the market is mulling this and the upcoming quarterly.

I worry about the first quarterly production as they forecast, short term decline though it is. The trouble for me is even with a bad quarterly SBM just makes so much cash, a higher rate of return on their market cap than any other I hold, so even a bad quarterly is still quite good. In my experience SBM are often a bit pessimistic on their forecasts, or manage to do a lot better than expected, rarely surprising to the downside, so a smaller drop in cash flow than expected could see some nice gain. Given how good SBM are at informing the market it is more about market expectations than the actual production.

My biggest issue in this sell decision is a big tax liability after buying rock bottom will dampen any alternative investments.

Share your concerns on RSG.