dividend tooo small, page-2

SMY looking to spend over $10M on exploration over next twelve months.
Paste plant at Kimberley mine currently under construction, Copernicus to come on line, Winner decline still under development, possible input into Panton, gear required for Deacon, (four trucks, two boggers, one jumbo, miscellaneous ventilation gear, pumps etc)..................all this stuff costs money.
I doubt very much we'll see nickel reach $54000 a tonne this year, so I think it's a good idea to hang onto some of their hard earned.
Of course I would've liked a dividend of 25 cents, but I don't think it would have been very smart, and investors would have been very dissappointed next year when the same sort of figure could not be maintained.