SDL - Sundance Resources

[lioness]

SDL partners, come out, come out where ever you are; show your faces and make your announcement very, very soon!

Mr Talbot, Wedlock et al - you need to stop the spin the continuous investor presentations / power point slides with the same old super positive outlook and; actually come up with a concrete partner and way foward ASAP.

This has been on the go for 4 years now - just do it! :

please

Back to 12 cents it looks like as it is slip sliding away today. Agree with you LRG, but how much drilling can you complete before ANYONE is interested.

I have been told this Don Lewis is like a salesman and looking at the share price, no one with any credibility believes in this project and is willing to recommend them. There has been no broker reports since 2008 I noticed as all analysts dont believe in this project. How much more money can they raise to just drill for nothing and present wonderful powerpoint slides that amount to nothing??? They just have another 85 million to continue on for another year to do just this. Not even an update on the partner list is a disgrace from this ceo and speaks volumes that the shortlist is very short.

 

[The Muffin Man]

What a pack of whingers. You are presented with possible reasons why partners are taking time to commit to the project, which you seem to be able to understand, but then a week or two later start to moan again because your get rich quick scheme is yet to pay off.

How about if you are unhappy with the boards performance, you sell your shares?

 

[LRG]

no point selling now - they are almost worthless.

if they get to 10c people will dump on mass.

and i will just be a loser whinger again.

whinger

 

[lioness]

What a pack of whingers. You are presented with possible reasons why partners are taking time to commit to the project, which you seem to be able to understand, but then a week or two later start to moan again because your get rich quick scheme is yet to pay off.

How about if you are unhappy with the boards performance, you sell your shares?

Muffin man, I think if the board puts deadlines out, they should meet them. Such as partners will be announced by June. We are getting close so I suppose DB and UBS are a sign of this. People are just sick of waiting 4 years for negative returns, do you blame the whinging?

 

[jonojpsg]

Muffin man, I think if the board puts deadlines out, they should meet them. Such as partners will be announced by June. We are getting close so I suppose DB and UBS are a sign of this. People are just sick of waiting 4 years for negative returns, do you blame the whinging?

Hang on a sec lioness, the article you posted a link to below gave a pretty good sequence of events from when SDL first bought in 4 years ago, through the initial resource drilling (07/08), then the GFC which threw a massive spanner in the works, and then the revised way forward which had to include more drilling to get the 350Mt high grade in order to get a partner on board.

IMO they are running extremely well to plan given events over the past two years - as I've estimated, the JORC inferred for Nabeba should be out within the next 2-4 weeks, then a partner locked in shortly after.

I don't think there is any need to whinge about a drifting SP when it is such a news-driven situation - with the news that we WILL get in the next two months, the SP WILL improve - IMO significantly.

Of course, in two months time feel free to throw eggs if nothing happens

 

[The Muffin Man]

Muffin man, I think if the board puts deadlines out, they should meet them. Such as partners will be announced by June. We are getting close so I suppose DB and UBS are a sign of this. People are just sick of waiting 4 years for negative returns, do you blame the whinging?

Right, and SDL management said DB would come back to them in April/May of this year, with announcements later on in the year. We are currently in May. What's your problem? Your expectations are not based on any facts. SDL never said partners would be introduced to shareholders by Mid-May.

SDL came across the tenements in Cameroon in late 2006. They drilled the tenements for 18 months and defined JORC levels of Iron Ore. Then there was this little event, just a minor one really, called the Global Financial Crisis. I'm not sure if you have heard of it, maybe you have been living on the Moon the last two and a half years with your fingers in your ears? This little event has pushed back the plans of the company. Are you angry with management because they were not able to seucre partners in conditions that were the worst seen since the Great Depression? That SDL couldn't secure $3.3Bn in financing for a green-field project in Africa while the rest of the World was experiencing financial shock after financial shock? Are you really that far detached from reality?

It became obvious to SDL's management after the GFC abated somewhat that they would need higher levels of DSO to make the project more attractive to potential. The company raised further funds, and started shallow drilling Nabeba.

So, there's the story up to now. Again, what's your problem? Economic conditions can change, which in turn changes projects and project time lines. Simple, basic stuff.

 

[bleach8]

Right, and SDL management said DB would come back to them in April/May of this year, with announcements later on in the year. We are currently in May. What's your problem? Your expectations are not based on any facts. SDL never said partners would be introduced to shareholders by Mid-May.

Acutally, it should be March/April for DB to advise the potential partners.

management and the project are all good ...the problem--all these institutional buyers …I just don't know when will they dump another 9m shares in one go, just like today …and there was no buying at all …!! you would think a project this good should at least have some buying power during today's situation ...right? but ...almost no one bothered to buy today!!!!

 

[CarbonSteel]

no point selling now - they are almost worthless.

if they get to 10c people will dump on mass.

and i will just be a loser whinger again.

whinger

Man I hope they do dump at 10 cents, I'll be waiting to fill up!

On another matter, there seems to be some confusion about when Partner(s) will be announced/introduced.

Can anyone provide SDL documentation which states categorically when this will happen? Won't potential partners want to see Cameroon govt tip in their cash before committing themselves? If this is so, at what point (according to SDL) will this happen?

Anyone know this stuff?

 

[jonojpsg]

Man I hope they do dump at 10 cents, I'll be waiting to fill up!

On another matter, there seems to be some confusion about when Partner(s) will be announced/introduced.

Can anyone provide SDL documentation which states categorically when this will happen? Won't potential partners want to see Cameroon govt tip in their cash before committing themselves? If this is so, at what point (according to SDL) will this happen?

Anyone know this stuff?

Nothing definitive in the last few major announcements Carbon - quarterly, open briefing, market update, etc. all referred to ongoing discussions with potential strategic partners and Cam govt but apart from saying that it should all be successfully concluded prior to end 2010 in readiness for construction start beginning of 2011, there was no specific date mentioned for announcement of partner.

DB was supposed to be putting forward preferred partner(s) in Mar/Apr, and final Mbalam convention was going to be submitted to Cam govt in May.

Waiting game... oh, and I too will be loading up at 10c!!

 

[LRG]

Trolling through prior releases are documents, SDL's timeline appears to be as follows:

March/April - Deutche Bank to reccomend preferred strategic partners
April/June - Drilling results and feasibility study completed
June/July - Announcement to be made on strategic partners
Late 2010 - Finance to be arranged
Early 2011 - Construction to begin

Here is the timeline summarized previously announced by SDL

We have passed March / April - I have not heard DB recommmend strategic partners - have you Muffin MAN!

 

[lioness]

In their last open briefing, they stated DB would recommend partner list by March/April and gave themselves a deadline to choose before end of June. This is black and white and I will find that link.

This is a foregone certainty to touch 10 cents now.

There is only so much the spin doctor Don Lewis can put out in their updated slides for the last 4 years. Time to deliver has already come and gone, merely just paying for their fat salaries now to the ultimate demise.

 

[The Muffin Man]

Here is the timeline summarized previously announced by SDL

We have passed March / April - I have not heard DB recommmend strategic partners - have you Muffin MAN!

Riiiiight, and when does it say strategic partners will be announced? Read the post again mate. DB was to go back to SDL with the shortlist, the was no mention of us being told anything in May. So you can keep whinging, or wait until when the company actually said news would be announced.

 

[The Muffin Man]

In their last open briefing, they stated DB would recommend partner list by March/April and gave themselves a deadline to choose before end of June. This is black and white and I will find that link.

This is a foregone certainty to touch 10 cents now.

There is only so much the spin doctor Don Lewis can put out in their updated slides for the last 4 years. Time to deliver has already come and gone, merely just paying for their fat salaries now to the ultimate demise.

SDL is moving with the general market, and has done so since October last year. Take a look at the graphs of SDL compared to the ASX, they move in unison. When the ASX swings upwards, so will SDL. Would you just look at the panic that a little shake sets off in some of you! Maybe a speculative stock isn't really your cup of tea?

 

[lioness]

SDL is moving with the general market, and has done so since October last year. Take a look at the graphs of SDL compared to the ASX, they move in unison. When the ASX swings upwards, so will SDL. Would you just look at the panic that a little shake sets off in some of you! Maybe a speculative stock isn't really your cup of tea?

The fact that it can never break 17 cents even when the all ords was 4950 is not a good sign. It moves in unison to a certain point and halts. That is because the spin must turn into something real at some point. Looks like the sun is gone and the dark clouds are gathering.

 

[LRG]

Muffin, i can read.

Sundance release / carry out an instor presentation every month just a bout - see March April etc.

If DB had recommended strategic partners in April/ May to the board / management of SDL you can bet your bottom dollar they would have put out a media release CONFIRMING that DB had provided a list / recommendation of strategic partners and they were on taget to announce the actual strategic partner/s in June / July.

Especially given the plunging SP.

But they haven't cause there likely is still no strategic partner/s to announce in June / July.

IMO they are starting to get worried that the whole thing is just not getting the traction they expected - or they would have updated all those who hold the collective 2,800 Million shares!

I am not selling you arragont person - but i fear I am doing my money on this one - I was very confident up to recently. I am not confident cause they have gone completely silent whilst the SP has tanked from 16.6 to 13.0 and it is heading to 10.0 or lower by the look if they don't announce something positive in the next few days.

 

[bleach8]

Muffin, i can read.

Sundance release / carry out an instor presentation every month just a bout - see March April etc.

If DB had recommended strategic partners in April/ May to the board / management of SDL you can bet your bottom dollar they would have put out a media release CONFIRMING that DB had provided a list / recommendation of strategic partners and they were on taget to announce the actual strategic partner/s in June / July.

Especially given the plunging SP.

But they haven't cause there likely is still no strategic partner/s to announce in June / July.

IMO they are starting to get worried that the whole thing is just not getting the traction they expected - or they would have updated all those who hold the collective 2,800 Million shares!

I am not selling you arragont person - but i fear I am doing my money on this one - I was very confident up to recently. I am not confident cause they have gone completely silent whilst the SP has tanked from 16.6 to 13.0 and it is heading to 10.0 or lower by the look if they don't announce something positive in the next few days.

something +VE : india will introduce new windfall tax on their miners

Brazil has similar tax on their plan to be introduced
FMG put their project on hold

so.Iron ore price will rise and SDL will benefit

Again..i am concerned on the share price as well, and i agree that management should at least do something to claim investors.

 

[lioness]

Muffin, i can read.

Sundance release / carry out an instor presentation every month just a bout - see March April etc.

If DB had recommended strategic partners in April/ May to the board / management of SDL you can bet your bottom dollar they would have put out a media release CONFIRMING that DB had provided a list / recommendation of strategic partners and they were on taget to announce the actual strategic partner/s in June / July.

Especially given the plunging SP.

But they haven't cause there likely is still no strategic partner/s to announce in June / July.

IMO they are starting to get worried that the whole thing is just not getting the traction they expected - or they would have updated all those who hold the collective 2,800 Million shares!

I am not selling you arragont person - but i fear I am doing my money on this one - I was very confident up to recently. I am not confident cause they have gone completely silent whilst the SP has tanked from 16.6 to 13.0 and it is heading to 10.0 or lower by the look if they don't announce something positive in the next few days.

They have gone silent LRG because they won't release anything major until the market is rising not falling otherwise news is wasted. As for partners, they have nothing and probably won't until after JORC of nabeba.

 

[The Muffin Man]

They have gone silent LRG because they won't release anything major until the market is rising not falling otherwise news is wasted. As for partners, they have nothing and probably won't until after JORC of nabeba.

So you say that apparently "the dark clouds are gathering" but then you quite calmly offer a very reasonable explanation as to why a strategic partner is yet to sign on to the project.

Why would a partner sign onto the project when SDL is yet to JORC define the DSO used in the CAPEX payback period models and pricing models?

When the ASX heads south, SDL heads south with it, as has been the case for months now. When the share starts going south, all of the holders that are quick to panic start jumping up and down telling us the sky is falling in, while others take the time to accumulate. This has occured for months now. To the long term holder, whether the share hits 12c today is absolutely irrelevant.

 

[Zodiac]

There will be no announcements on partners for the foreseeable future. No one will be interested until the following occurs:

1) Cameroon Govt can gtee suppy of power ( they cannot as Rio has just scaled back its expanion plans for its Alcan plant for this reason ).

2) Cameroon Govt agree to tax terms.

We all know there is heaps of Iron Ore and the world needs it. But without the above it will sit there. Alos note the political uncertaincies of the region with elections eary next year. Its a game of chess.

Zodiac

 

[lioness]

There will be no announcements on partners for the foreseeable future. No one will be interested until the following occurs:

1) Cameroon Govt can gtee suppy of power ( they cannot as Rio has just scaled back its expanion plans for its Alcan plant for this reason ).

2) Cameroon Govt agree to tax terms.

We all know there is heaps of Iron Ore and the world needs it. But without the above it will sit there. Alos note the political uncertaincies of the region with elections eary next year. Its a game of chess.

Zodiac

Yes Zodiac, all those shares recently bought by Capital Partners of 145 mill and UBS and DB at 270 million combined are a waste of money as this project will not happen. What a joke. Of course it will happen and is happening as we speak. SDL are providing a future for their employment poverty problems. The govt is willing to put up to 25% of the cost of the project in. What does that tell you?????