With gold at AUD $1750 SBM should be trading around $3.50 but we can thank our incompetent board led by the grossly incompetent Tim Netscher for driving the share price down and then keeping it down because it is now tied to GMD and massively diluted. Why would they do this? Was it to be in with the Kalgoorlie “heavy hitters”? Or to assure themselves of a job? They have proven themselves incapable of running SBM competently and if they genuinely had the shareholders best interest at mind they would have resigned their respective positions. Anyway, because of their actions SBM has effectively been tied down. I will be interested to see if the new GM/CEO has improved the situation or is he just another puppet?
SBM Price at posting:
85.0¢ Sentiment: Hold Disclosure: Held
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