Since the GFC the goal posts have changed and I agree rationale...

Since the GFC the goal posts have changed and I agree rationale is one of these. It seems PNA is not alone when reporting a great result only to find the SP retreat.

Seems the thinking now is to sell after a good result and wait until forcasts are confirmed for next yeear or quartely production. Nothing is certain anymore.

"PanAust expects EBITDA for the 2011 year be between $339 million and $394 million"

I think the market sees this as too big a range ($55m) and therefore management is uncertain of the year's output. Uncertainty is punished these days.