Springhill... see my last post on 24th February below.
I am happy to tell you my holdings. I am in the green on every single one of them.
Piggy... unlike some, i only check the boards every couple of weeks and i do not bag people. Carbon has been bagging me since my first post because i said SDL will be going to 7 cents which is exactly what happened. Since then, i have made over a 100% gain in FMG, steady with BRM (with very little risk) and have made trading profits on AGO as well. All the IO plays are going very well, only SDL going to all time lows as i predicted. If you only want to have posters that pump up the stock then fine, good luck to you.
I am just trying to tell new investors that all is not rosey with SDL and the chances of this stock going to Zero are huge.
24th February 2009..Carbon Steel and othe Bag Holders,
You can bag me all you like but the stock is down 30% (40% now) in the last couple of weeks. FMG up around 80% and BRM up over 10% from my first post.
CUS up over 30% as well as AGO. All of my stocks are up including CBA at 25,
BHP and RIO.
My first post, i said that you will be able to buy at 7 cents in a couple of weeks, but i suppose that i am the idiot????
You will see 7 by the end of the week, maybe tomorrow.
Carbon, if you try and compare SDL to BRM, you are just mad. BRM has 102 million dollars in cash, ZERO debt, existing rail network a few kms away and a new port facility. More than 1.3 billion tonnes of quality iron ore and a market cap of just 135 million.
SDL has a 400K piece of land, no rail, no port and hundreds of kms from the ocean. Not to mention Africia, no funding and no chance of funding. Stock at 8cents and only going lower.
If you think that this mine is going ahead, you need to pull your head out of your butttt. I would calculate that you have more chance winning the lotto.
I was just trying to warn you inexperienced investors about getting into this stock and holding the bag. See you at 7cents this week, maybe even .6.5cents. Good luck all!
no funding and no chance of funding
Hey Carbon,
You wouldnt have $1000 to bet. I thought you said we would never see 7 cents just a few weeks ago and that SDL only traded up with the SJO.
Well, the market is up today including every single one of my stocks.
SDL down another 7%. Excellent pick mate.
Can you give me another one of your top picks so i can have a laugh.
Good luck and see you all again in another couple of weeks. SDL will be between 6 and 7 by then. As for your 2.5 billion revenue. Oh please.
How many other miners in W.A. have 1 billion tonnes of IO just sitting in the ground.
P.S. i have typos because i type around 80 wpm and english is not my first language.
If you think that this mine is going ahead, you need to pull your head out of your butttt. I would calculate that you have more chance winning the lotto.
I was just trying to warn you inexperienced investors about getting into this stock and holding the bag.
China has offered Rio Tinto an unlimited line of credit, potentially worth more than $30 billion, to develop major mining projects in Australia, China and around the world.
The Weekend Australian says the offer from the state-owned Export-Import Bank of China, or Exim Bank, will help Rio Tinto expand at a time when frozen debt and capital markets have starved the mining industry of funds.
But the paper says the proposed loans would add another layer of complexity to the federal government's deliberations over state-owned Chinalco's $US19.5 billion ($A29.79 billion) investment in Rio Tinto, Australia's second-biggest miner behind BHP Billiton. The Exim offer is tied to the success of the Chinalco deal.
The undertaking from Exim was delivered to Rio Tinto on February 12, the same day the miner inked its deal to sell Chinalco $US12.3 billion ($A18.79 billion) worth of stakes in key assets and $US7.2 billion ($A11 billion) of convertible bonds.
Rio Tinto, which last year rejected a $US135 billion ($A206.26 billion) takeover bid from BHP Billiton, turned to Chinalco after rejecting other options to reduce the $US38 billion ($A58.06 billion) debt pile left over from its much-criticised acquisition of Alcan.
The company is lobbying shareholders and the federal government on the merits of the deal - the biggest foreign investment by a Chinese company and the biggest by any foreign company in Australia.
A Framework Agreement was executed between Cam Iron SA, represented by the Chairman of Sundance, and the Government of Cameroon, represented by the Prime Minister on 18 December 2008.
.......Mbalam Convention to be executed when the Project feasibility study has been completed.
Well, depends which part of the article you want to read really.Apparently, Rio Tinto, (the worlds third largest mining company) unaware that such good advice is freely available right here in this forum, has not heeded the advice of this poster....
dated Feb 13/09......
http://www.reuters.com/article/innovationNewsIndustryMaterialsAndUtilities/idUSTRE51C5GY20090213
In December, Rio Tinto said it would slow the pace of production at its La Granja copper project in Peru. The company aslo said earlier this year that it had all but halted its expansion of the Kitimat aluminum smelter in British Columbia.
After further cuts, Rio Tinto announced on January 20 that it would shed 1,100 jobs, cut a further six percent of aluminum output and scale back alumina production.
Rio and Cameroon's government each own 46.7 percent of Alucam, their joint venture. The remaining 6.6 percent is controlled by other shareholders.
A statement issued by Alucam said the geo-technical studies had been completed but an environmental assessment remained. A final decision on whether the project will go ahead will be taken by the end of the year, it said.
Already the world's fifth largest cocoa producer, Cameroon is targeting mining investments in the region of $10 billion over the next few years. The central African nation pumped 30 million barrels of oil last year but reserves are tailing off.
Cameroon has had to cut its 2009 growth forecast to 4 percent, down from 6-6.5 percent, largely due to the financial crisis and plummeting prices for its oil and metals exports.
We have had a SDL poster (praise be to the wisest one:bowdowntelling us that African projects have a huge risk of failure and that mining companies must be "in the back pocket of the government". Apparently, Rio Tinto, (the worlds third largest mining company) unaware that such good advice is freely available right here in this forum, has not heeded the advice of this poster....
dated Feb 13/09......
http://www.reuters.com/article/innovationNewsIndustryMaterialsAndUtilities/idUSTRE51C5GY20090213
Raising just $10m signifies to me that SDL is confident this will happen in the not too distant future, or else they would have tried to make the share offer larger.
I'm not sure that cutting the Cameroon growth rate to 4% from 6% is a 'somewhat dire' economic statistic when you take into consideration the current economic climate around the World. A 4% growth rate is still quite encouraging I would have thought. Any project that can contribute a gross 8% of GDP towards a country would surely be at the top of the list to support as far as developments go.
Well, depends which part of the article you want to read really.
Not sure what the Cameroon numbers really mean. Is it still growing on target?
Doesn't read all that bright and shiny for developing projects to me.
Major slow down globally. Hope SDL's remains on track for you.
Possibly it has no meaning whatsoever, but it is difficult for me to believe that an "insider" like Ken Talbot, would throw good money after bad. He is probably better informed than most of us and has made a decision to increase his stake and exposure. Why would he do that?
If you look at the June 2008 Financial Report, you can see under the Non Current Assets section of the Balance Sheet the line item 'Exploration and Evaluation Assets' with a balance of around $64.37m.
From what I can gather, Sundance is capitalising their exploration and evaluation costs into this asset account. If you follow down to the corresponding note (note 14), it breaks up this $64.37m balance into the Mbalam Iron Ore Project and the Congo Iron Ore Project. Mbalam currently holds $64.27m of that balance.
Now, you need to add on exploration and evaluation costs for the last two quarters, but remembering that there has been further exploration of the Congo site in this period also.
The September quarter showed exploration and evaluation of $12.36m, let's say that $9m of that was spent on Mbalam to be on the conservative side.
The December quarter showed exploration and evaluation of $9.9m, let's say $6m of that was spent on Mbalam to be on the conservative side.
So we have the initial $64.27m held in the asset account that has been capitalised, and $15m from the first half of operations so far this year, which totals $79.27m. This is just a rough estimate and includes no other expenses that have not been capitalised during the time Mbalam has been developed.
It depends on how the company has accounted for items like consulting fees for instance. Consulting fees appear in the June 2008 Financial Report in the Income Statement. If these consulting fees were to do with Mbalam should they also be added to the end sale figure to the Cameroon Government? That's what I mean by there being some grey areas where only the company and Cameroon Government will know the real figure.
Feel free to pick this apart but I'm pretty confident that the Exploration and Evaluation Non Current Asset will be a very good starting point in figuring out how much has been spent developing the Mbalam site, then you need to add on this years current expenses.
People said the same about Micheal Keirnan, and look how well that went for them...
Point is, even rich people within the industry can make mistakes.
In fact Talbot was one of the Rich200 who lost the most recently due to his exposure to speccies....
Not necessarily. I've had two companies that were very undervalued by the market, which I had a lot of faith in, and had some great investors and large banks on the register, that went belly up. My return? Nada. A nice capital loss was my return. There's been a few of those recently actually.You only lose money if you sell,
Not necessarily. I've had two companies that were very undervalued by the market, which I had a lot of faith in, and had some great investors and large banks on the register, that went belly up. My return? Nada. A nice capital loss was my return. There's been a few of those recently actually.
You think Talbot is a possible Pied Piper of Financial Death then?
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