But then not too worried if it doesn't just yet company is buying back shares while market is at a discount because of U S pain. I think this is a light buy till turnaround? Just my view. I eagerly wait the quarterly to see how production is increasing!
Sent a few questions off and got a reasonable reply...
Subject: share price dump
Greetings,
Why is our share price plumeting furiously recently? Are we buying back shares still? Do we have problems? Are US shareholder bailing?
Any info for shareholders or updates?
"Unfortunately we are a victim of the market malaise. In answer to your questions;
a) We do not know – other than anti US sentiment
b) Yes – but being careful not to spend shareholders money in this uncertain market
c) No problems – quarterly report will be out mid October
d) There has been some selling. We know they have problems over there( U S market not SAE) and there is nothing much we can do about it.
e) Quarterly Report out soon along with any other material announcements required.
It is hard to say how long things will remain difficult in the market, but SAE has cash, production, reserves and a long term producing asset, plus “blue sky” assets – a good position to be in.
Regards,"
SAE Price at posting:
16.5¢ Sentiment: LT Buy Disclosure: Held
