Thks BFUnfortunate your recent contact was not more positive but...

Thks BF

Unfortunate your recent contact was not more positive but I believe with bad news SBM is developing a pattern of limited and measured announcements with its disclosures to shareholders using time to pursue/rectify its declining status or hope POG corrects. Complete opposite of recent years. I am afraid if I take u up on calling them the sell speel will be the same (ie what they are doing to make their strategy work )- a reflection on how they view the s/holders (owners) of this company. I hope I am wrong. It is also amazing that more debt would be considered for these o/s ops in this climate. Look at what debt has done to governments & corporates around the world and who pays in the end - not sustainable IMO. It is also amazing that they (mgt) seem to be buying time with debt in the expectation of POG turn around. These uncontrollable factors increase company risk , impacts credit ratings and destroys confidence. Is this what s/holders want .This is usually a short term measure at best.
Just a thought, @ current & decreasing SBM SP what if there is MA/takeover with another sizeable company. They could put o/s on care & maintenance use local ops to pay down debt but at what cost to s/holder value and have access to a sizeable resource in an industry where grades are diminishing.
cheers
LT holder
p.s the strategy needs to change to be sustainable