Agreed, the fundaments for gold have never before looked better...

Agreed, the fundaments for gold have never before looked better as far as I can tell and yet we have a gold producing company telling it's shareholders they have no future expectation of price appreciation for at least 12 months and therefore forward sold 200,000 oz's

This is clearly a panic move by management and the market is now voting on their ability or lack there of to manage this business.

Forget todays pog or next weeks pog but in the next 12 months for every $1 above 1390au the price rises SBM looses $200,000 in revenue ... it's quite staggering

For those who think this a good decision and believe the gold price will be lower in 12 months time I would suggest you invest elsewhere... or maybe stick your paper money in a mattress and see how much less it will buy you in 12 months time.