louI think the answer to your question goes beyond just the...

lou

I think the answer to your question goes beyond just the quarterly results and forecast figures for the next year. Here in Australia we have been bombarded by news of how bad the situation is in Europe. We hear constantly of the troubles in Greece and how the problem is spreading to Italy and Spain and that it is almost inevitable that the entire Eurozone will break apart. There has been a real pessimism in the stock market and sellers have been dumping shares everywhere.

I have shares in a number of companies that have been unfairly oversold and current prices do not reflect a fair value of the company. Mood has been a little better this week and I hope it continues, but...
I have been through the report a number of times thinking that I must be missing something but the only things I can see are:
1. Cash costs rising (typical of all miners.)
2. Forecast production lower for next 12 months (though the company's culture is traditionally conservative.)
3. Little growth from where we were 12 months ago.

I'm still holding and was going to buy more at 30 to 32 cents, but now thinking price may not get to that. We'll have to wait and see.

Don't discount the sentiment in the Australian market at the moment though; it hasn't felt good for a couple of months now and SAR just may be a victim of that.