SDL - Sundance Resources

[stocksontheblock]

I normally don't respond to personal attacks but I think all avid readers will see that the few comments I have posted over the past 18 months do have credibility and make a good discussion point. The attack I have recieved from whoever is childish and was very quick from someone who has only been a recent member and has not contributed to this thread. It was a fearful response. I have hit a bone with perhaps those in the know who wish to quickly burn me down in flames, someone that is continually monitoring this thread to control its direction. The result of my posts have had the response that was intended which should give us all further peace of mind.

Thank you "who ever"

Zodiac

Ohhh what a nasty vindictive little child you are.

Are you here to seriously suggest that as a result of your amazingly poor and unsubstantiated claims, that someone has objected to it, advised the 'mod's' of ASF and you have been told to pull your head in and either put up or shut up? Could that be the catalyst for this little out pouring of your own aggrandised belief in your own self importance?

I’m not sure what I think is more sad, that you would have written this – thinking it is true, or that you think there are 'players' (obviously in collusion with the ‘mod’s’ and owner(s) of ASF) in the market who have nothing better to do with their time than watch for the postings of the likes of you and me (and others) on ASF and see if they can organise the downfall of civilisation - well our thoughts on SDL at least – by stifling our thoughts.

Wow ... we must be important! If my assumption for your tirade is right then how about providing some proof – as has already been asked of you, to back up your claims?

Therefore Ken has no choice but to support the board (who is running out of money ) to cut a deal and get him out.

This stock has been in the making for 3 years, the board has no way out ( money is running out ) unless they finally agree to announce that they have been successful in negotiations or it has all been pie in the sky for the past 12 months and than there will be hell to pay for all concerned.

BHP would like to open up European markets against Vale, Vale would like to stop this happening and they also lost out recently to the Chinese with the Belinga Mine in Gabon.

… so I stand by my point that the board has to be very careful how they play the Talbot card.

… stand by my point that for the board to announce the recommencment of exploration with only $18m in the bank they must have secured a financial backer.

And, there just the obvious ones! Not to mention the absolute unease I have when you refer to SDL as ‘we’. Do you work for them?

As for the

... will see that the few comments I have posted over the past 18 months do have credibility and make a good discussion point

Yeah??? Such as what? I see 10 posts from you and 5 of them are directly related to your ‘ramping’. Not sure where you have established an ounce of credibility. As for discussion points, yep! You got that!

I like this stock; I own a lot of them. I hope to make a killing, yet I don’t like seeing people get sucked into something based on the rantings of someone who can’t back a single word of it.

Provide some credible evidence for the quotes and maybe you might be seen as slightly credible yourself.

 

[CarbonSteel]

Secondly, I have no problem with the board investing in further equipment and drilling if we had the finances which we do not. I stand by my point that for the board to announce the recommencment of exploration with only $18m in the bank they must have secured a financial backer. When will this be announced? I would anticipate in the 4th quarter after the Kribi Port Committee have announced the "grand plan".

Zodiac

Is it possible that one or more prospective partners have requested that SDL prove up more asset before investing? Is it possible that this/these entities are paying for this exercise? If I were making the decision to finance SDL, I think I would find further positive drilling results very good comfort food.

 

[RP_Automotive]

If the above situation was true, surely it would be announced by SDL. And certinally they wouldn't say "yeah we'll spend xx Million on drilling if you 'promise' to fund our project. There would have been some sort of contract imo, and we would have heard about it.

I think it is however foolish of SDL to continue drilling with the current cash position. Something isn't adding up.

 

[Zodiac]

Lets substantiate.

1) We have $18m in the bank ( fact ).
2) We have announced a further drilling campaign ( fact ).
3) A board member who is also our major shareholder will stand trial next year for bribing a politician ( fact ).
4) China consider's corruption an evil, poor Hu ( fact ).
5) Vale lost the Belinga Mine to the Chinese ( fact ).
6) BHP ore is shipped to Asia and they would value opening up European markets, they have the money for acquisitions ( commonsense ).
7) Vale may wish to stop this and consider SDL's better deposit 400km away from the Belinga mine in Gabon ( commonsense )
8) Therefore our board which includes Ken must consider the ramifications of Ken being convicted especially if they are contemplating a Chinese partnership ( commonsense ).
9) What does not make commonsense is why would the board commit to further exploration with limited funds when we have already a proven asset ( " biggest ore body not currently controlled by the big three" ). Pointless unless there is a backer.
10) And why has the above discussion points brought out the best in "stocksontheblock". Instead of attacking me indulge me with your logic.


Zodiac

 

[LRG]

Maybe the stratergy of drilling again is just to keep the momentum going - a show of confidence by SDL Mgmt in the work going forward.

fact - they don't have a funding partner or we would know.

fact - we don't know if there are any potentials really in the wings

fact - we just don't know the status - we just have theire ASX / media releases to speculate about.

I just continue to hold and hope for positive progress sometime in the future.

fact - it is progressing slower than SDL management would have liked (based on previous time lines they put out).

 

[stocksontheblock]

Lets substantiate.

1) We have $18m in the bank ( fact ).
2) We have announced a further drilling campaign ( fact ).
3) A board member who is also our major shareholder will stand trial next year for bribing a politician ( fact ).
4) China consider's corruption an evil, poor Hu ( fact ).
5) Vale lost the Belinga Mine to the Chinese ( fact ).
6) BHP ore is shipped to Asia and they would value opening up European markets, they have the money for acquisitions ( commonsense ).
7) Vale may wish to stop this and consider SDL's better deposit 400km away from the Belinga mine in Gabon ( commonsense )
8) Therefore our board which includes Ken must consider the ramifications of Ken being convicted especially if they are contemplating a Chinese partnership ( commonsense ).
9) What does not make commonsense is why would the board commit to further exploration with limited funds when we have already a proven asset ( " biggest ore body not currently controlled by the big three" ). Pointless unless there is a backer.
10) And why has the above discussion points brought out the best in "stocksontheblock". Instead of attacking me indulge me with your logic.


Zodiac

Well, short of getting past the point of being feed-up with this sort of rubbish, I will indulge once more in your comments:

I will also raise my complete unease with your term of 'our' and 'we'. Who is 'we' and who is 'our'? If you mean we/our because you are a shareholder then I think you might be taking your understanding of ownership just a little too far!

So, I will correct your points:

1. SDL has $18m in the bank at present. This is correct, and based on best judgement (SDL, not 'us' or 'we') they will detail what the money will be used for. IMO, from the latest releases from SDL, and the SPP from a few months ago the earmarked funds where very clear:

Sundance‟s Chief Executive Officer, Don Lewis, said: "The proposed placement and Share Purchase Plan Offer will supplement our existing cash reserves to ensure that the Company has funding in place to continue its current activities on the Mbalam Project through to 2010. This will allow us time to develop arrangements with potential strategic partners and ensure that we are best positioned to advance the project as and when global financial conditions improve.”

So ... not only was the money to be used to "develop arrangements with potential strategic partners", yet it was to "supplement our existing cash reserves to ensure that the Company has funding in place to continue its current activities on the Mbalam Project through to 2010" - WHICH includes drilling/continued drilling.

So, not sure where the conspiracy is?

2. SDL has announced additional (not a campaign) drilling. Yep! Great! See Point 1.

3. He may stand trial next yr August 2010 is still a long way off. I would also add that the person you speak of is accused of making 'secret' payments. He has not been found guilty of doing so. Just a little piece of law for you: the fact that the politician in question has been found guilty of receiving 'secret' payments from certain individuals does not automatically mean the person who made them is guilty of corruption. A clear and distinct difference. Whether you think it is playing with words means nothing, there is a difference.

4. Bu*lsh*t!!!!! The fact Hu has been arrested gives no credibility to your claim. Bribes, corruption, etc in China is something that is political and useful for the Chinese when it suits them. It is not an 'evil' as you claim; it may be 'evil' to you, yet not to the Chinese. Corruption has been prevalent in China for the last 70 yrs, and more so in the last 20 yrs since China has attempted to become a player on the world stage. The fact that Hu stands accused of corruption by China is not the smoking gun you claim, in fact, if you had followed the story and knew something of the history of this - short of what you think you have read - the Chinese authorities knew about, what they consider to be, corrupt payments for many years now. 'Poor Hu' as you put it is the result of a disastrous mess with Rio.

So, the 'evil' you speak of is just rubbish!

As to whether or not the accused KT giving money to GN is 'evil' in the eyes of the Chinese will matter squat. Unless you can prove otherwise - which you can’t!

5. Vale lost the mine to the Chinese? How careless of them, they should keep a better eye on their property – I mean you claim they lost it, which means they had it. However, I fail to see how this is substantiated, or a fact!

6. MMM ... maybe! As for commonsense, I think this is more your assumption or wish, it’s certainly not commonsense. Nor, once again have you given an ounce of proof or evidence to suggest BHP wants this 'European' market. However, I think you mean 'African' as that is where SDL are looking to mine, not Europe. Ohhh, and don’t BHP already ship to Europe?

7. MMM ... maybe! As for commonsense, I think this is more your assumption or wish, it’s certainly not commonsense. Prove it!

8. Assuming he is convicted of a crime, and considering it wont be for at least another 12 months - possibly a lot longer, and the apparent investment will come a lot sooner I don’t see how this is an issue. Or are you suggesting that the Chinese in the face of such a massive deposit of ore etc would not invest because of this? Nice try!

9. Once again, see Point 1, and what bu*lsh*t!

Who is the backer?
Why has it not been announced?
How much has been invested?
When was it invested?
What were the terms?

Well ...? I have never heard such sh*t in my life. You are going to seriously try and get away with saying that SDL and all who manage and work for it are committing suicide by not announcing an investor when there is one? This is what you are saying, and to be honest you could find yourself in court for such claims, so how about putting up or shutting up.

10. Attacking you, well I will be as blunt as I can, without being overly rude. When the clowns from the circus try running the show instead of the ring-master then they need to be brought back into line. You have made claims that really should end you up in court and IMO kicked off this site, yet that’s not my decision.

I don’t need to provide any logic as you call it, you need to back your claims up! It’s that simple. You can’t make a claim just because you want to without backing it! It’s that simple.

 

[Zodiac]

Interesting to note that the Belinga Mine is at a standstill. The Gabonese are frustrated at the lack of progress ( nil ) in the construction of the mine / the railway/ the port and the power station. I am intrigued as to why the Chinese are delaying its development. Perhaps they have a better venture nearby to consider. I hope you have chewed your dinner "stockonthebock" or you might get indigestion again.

Zodiac

 

[Sean K]

Ladies and gents,

Attacking others is not cool on ASF and can lead to suspension of your account. Disguising swear words as part of an attack with a !@ is the same as using such a word. Don't do it.

Also, all effort should be made to substantiate claims if and when they are not public knowledge. Please provide reference to statements or reasonable line of deduction.

Cheers,
kennas

 

[CarbonSteel]

From: Companies and Markets.com

On balance, I think it's good news for me as a holder....

http://www.companiesandmarkets.com/...roon-infrastructure-report-q3-2009-144703.asp

The construction sector in Cameroon is expected to decline by 1.6% in 2009. Cameroon, despite some setbacks in the latest quarter, managed nevertheless to show some signs of infrastructure development. The country’s rail operator is scheduled to start this year on an 11-year program of railroad improvements. Construction has reportedly begun on the road leading to the Lom Pangar dam project. The Japanese government approved its first loan to Cameroon since 1976.

But the problems that arose are serious ones. First, the economy deteriorated further in the latest quarter and the forecast now sees GDP growing less than 1% in 2009. Cutbacks in production at the Alucam smelter because of electricity shortages could try the patience of Rio Tinto Alcan, which only last quarter said it would stick to its plans to invest in Cameroon even as it cut capital spending elsewhere. In another blow for the country, the estimated cost of the Limbe Deep Water Port rose to twice its previous level.

Cameroon’s ability to overcome obstacles in the longer term may be dependent on companies and investors eager to tap into its mineral and energy resources. Projects depending on the Kribi Deep Sea Port, for example, include several participants, some of whom will take a long-term view of Cameroon’s potential.

Cameroon manages, in spite of its problems, to appeal to investors looking for opportunities in its key infrastructure sectors. Several projects have been proposed so far this year, although fewer in the latest quarter than the preceding one.

This interest bodes well for infrastructure development in the country over the next five years. Thanks to debt cancellation through the World Bank and the International Monetary Fund’s Heavily Indebted Poor Country (HIPC) initiative, public finances have been improved. The Cameroon government is collaborating with neighbouring countries and multi-lateral agencies, and the multi-national corporations in the country are tolerant of risk and have diversified their risks over many countries. The government itself appreciates the benefits of build, operate, transfer (BOT) transactions.

The country still suffers from corruption, a lack of transparency and insecure borders, but the problems are not getting worse.

Two infrastructure projects deserve - and are getting - especially close scrutiny. Both have the potential to influence significantly the country’s long-term economic performance. The Kribi Deep Sea Port could greatly enhance Cameroon’s ability to exploit its mineral resources, while the Lom Pangar Dam would give it the ability to increase and stabilise its electricity generation. Greater iron ore and aluminium production - and export - is likely to result if the construction of the two projects goes ahead as planned, which would reduce the country’s dependence on oil. The dam would reduce vulnerability to drought by ensuring that its hydroelectric generators, which account for more than 80% of electricity production in the country, have the water they need.

If the country can get those and other projects to completion, the resulting momentum is likely to bring further investment in infrastructure, including into roads, railroads and water and sanitation. The beginning of construction on a road leading to the dam site may be a small step, but it is progress.

The report is now forecasting real GDP growth in Cameroon to slow to just 0.5% in 2009 and to 2.0% in 2010.

That represents a sharp decline from our previous forecast of 2.4% growth in 2009 and 3.6% in 2010. We expect a real contraction of 1.6% in the construction sector in 2009 before growth resumes next year.

The report forecast is for 3.5% real construction growth in 2010 and 6.1% the following year.

Cameroon’s infrastructure activity, however, must be viewed in the context not just of the global economic climate, but specifically in the context of commodities prices. Oil prices and some metals prices have risen in recent weeks, and although the gains are not uniform across the commodities sector, any sign of price recovery should boost investors’ confidence about undertaking projects in Cameroon.

 

[CarbonSteel]

I'd say its more to that effect MMM.

I'd do the same if I were tarding SDL. If 0.17 goes we'll be seeing 0.15 for sure.

Talktome

When I saw this post a coupla weeks ago, I thought "no way!"

And now it looks like it will come to pass.

I guess there are too many opportunities where things are happening and money is being made trading.

Sadly, I'm not educated or sophisticated enough to day trade, but all power to those who have the balls to do so!

I'll sit tight and wait with SDL, and a couple of others who have done better than SDL so far. I cannot explain my irrational thought that someday SDL will treat me well. (please no thought police today-it gets too tiring)

 

[CarbonSteel]

Bribery for low key assets and non essential industries have been "selectively" tolerated in developing countries for decades. However we are talking about a $7billion investment in a industry which the Chinese are using corruption as a negotiation tool. This crime is punishable by execution in China, so I stand by my point that the board has to be very careful how they play the Talbot card.
Zodiac

From: Companies and Markets.com
(see recent post)

The country still suffers from corruption, a lack of transparency and insecure borders, but the problems are not getting worse.

Would it not be hypocritical for the Chinese to invest in a project where not only is a substantial shareholder charged (but not found guilty) with corruption, but also the entire country where this investment is being mooted is in fact rife with corruption. If it is a crime puishable by death in their own country, surely they will steer well clear to protect their morals, no?

 

[springhill]

Would it not be hypocritical for the Chinese to invest in a project where not only is a substantial shareholder charged (but not found guilty) with corruption, but also the entire country where this investment is being mooted is in fact rife with corruption. If it is a crime puishable by death in their own country, surely they will steer well clear to protect their morals, no?

I don't want to shock any of you but corruption is alive and well in every single country on the planet albeit in different levels of severity.
Leaving the moral debate out of it. Maybe corruption is a better option than a thousand layers of red tape (not mentioning any names.... Australia) in getting projects off the ground. There's nothing a brown paper bag won't fix!
In the case of the Chinese i wonder which one will win out money v morals

 

[ocelot]

SDL is taking a bit battering today with nearly 10mill trades in the first couple of hours. Looking like people are looking to exit this stock. There really hasn't been any popular annoucements and the big annoucement just arent coming. Friday SDL typically takes a battering but down to .145 cents its not looking good for this stock

 

[stocksontheblock]

SDL is taking a bit battering today with nearly 10mill trades in the first couple of hours. Looking like people are looking to exit this stock. There really hasn't been any popular annoucements and the big annoucement just arent coming. Friday SDL typically takes a battering but down to .145 cents its not looking good for this stock

I wonder if the FIRB annoucement has anything to do with this? Don't really know what effect it could have, this could be a contributing factor?

 

[munga]

SDL is taking a bit battering today with nearly 10mill trades in the first couple of hours. Looking like people are looking to exit this stock. There really hasn't been any popular annoucements and the big annoucement just arent coming. Friday SDL typically takes a battering but down to .145 cents its not looking good for this stock

been riding this stock for a long while now
got depressed today so i bought more
its going to go just when is the question

 

[Zodiac]

On Friday The African Development Bank approved and announced a $190m facilty for the construction of a highway linking Cameroon and Congo. In its release it mentions to assist for "agricultural and Ore". Refer internet "AFDB Cameroon Congo Road Linkage". More regulatory announcements, particlularly on the Kribi Port, should be the catalyst.

Zodiac

 

[LRG]

I am starting to get a bit nervous with my share holding in SDL - invested a lot of $'s for me - nothing is happening as per their plan / timeline.

are any other holders starting to lose the faith. In the last couple of months we have gone from earlt 20cents to 14.5 cents - a big drop when the rest of the market is rising.

I hope there is positive news soon or i think it may tank quickly on panic back to 10 or 8 cents.

 

[inenigma]

I am starting to get a bit nervous with my share holding in SDL - invested a lot of $'s for me - nothing is happening as per their plan / timeline.

I hope there is positive news soon or i think it may tank quickly on panic back to 10 or 8 cents.

Settle down..... If many others read your post they too might think of selling.....

Oh... Hold on.... I don't own any SDL at the moment... If the price goes down then I might be able to purchase some cheaper than it is today....

 

[Julia]

been riding this stock for a long while now
got depressed today so i bought more

Can you explain the logic of buying more of a falling stock?

its going to go just when is the question

How are you sure it's 'going to go'?

Settle down..... If many others read your post they too might think of selling.....

Oh... Hold on.... I don't own any SDL at the moment... If the price goes down then I might be able to purchase some cheaper than it is today....

I'd ask you the same question I asked munga above, i.e. why would you buy a falling stock?

Do either of you have an identified price where you will exit? Or are you happy to watch it dissolve to nothing if that's what happens?

 

[munga]

Can you explain the logic of buying more of a falling stock?


How are you sure it's 'going to go'?



I'd ask you the same question I asked munga above, i.e. why would you buy a falling stock?

Do either of you have an identified price where you will exit? Or are you happy to watch it dissolve to nothing if that's what happens?

quite simply put i have combination of stocks that i use either
ta or fundamental analysis.
on ta i have a entry price stops and exit plan.
with fa stocks such as sdl i have a strong belief that in the long term
they will increase in price due to the quality of the project.
this has happened with such stocks as fmg, ext to name a few.
i see falling price as an opportunity to increase my holding and decrease my overall average buy price.
all makes sense to me but time will tell