SDL - Sundance Resources

Zodiac said:

Interesting to note that apart from Ken Talbot none of the other directors including the chairman have purchased shares ( of significance ) in the company. As a board of a company with so much near short term potential I do not understand why they would not have been purchasing shares in the company they control?

Zodiac

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Excellent point zodiac and I thought this myself. Anyone care to answer why? The CEO had 30 million options I noticed exercisable at 10 and 20 cents.

They didn't own them directly but they certainly did through trusts and companies. Structured that way for tax reasons I would assume

You are "assuming" but the facts are that the directors had very little to no ownwership of the company in their names. Again why would that be? especially considering that this company is going to be the next FMG which has been spuked by the board for years??????

Zodiac.

Zodiac said:

You are "assuming" but the facts are that the directors had very little to no ownwership of the company in their names. Again why would that be? especially considering that this company is going to be the next FMG which has been spuked by the board for years??????

Zodiac.

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Hi

You are also "assuming" this company is going to be the next FMG....

there are only 4 listed companies can produce more than 30mt a year...it is not that easy to get the 3.3b funding ...especially after the recent event ...

lets hope for the best

I refer to the "board" BELIEVES it will be the the next FMG ( countless slides shows to prove it ) but my concern is "why" apart from Ken were the board THEMSELVES not prepared to invest in Sundance shares???

Surely this is a topic for discussion.

Zodiac

Zodiac said:

but my concern is "why" apart from Ken were the board THEMSELVES not prepared to invest in Sundance shares???

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I often watched SDL’s board as to what they were doing in relation to their shares. Their CEO sold hundreds of thousands when he left the position of CEO of GRR. I wondered if SDL shares would one day turn up in his name, but never did. GJ appears to still have his shares in SDL. You always wonder what changes when directors stand down even for a short period. (GJ’s holding is under Friday’s announcement for Adam Rankine-Wilson ???)

Now Adam has been there from the start and it would be interesting to see what his holding actually is. Providing SDL doesn’t become a .com there should be no real reason for extra concern.

Zodiac said:

I refer to the "board" BELIEVES it will be the the next FMG ( countless slides shows to prove it ) but my concern is "why" apart from Ken were the board THEMSELVES not prepared to invest in Sundance shares???

Surely this is a topic for discussion.

Zodiac

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i dont hold any SDL under my own name....alll under my mum;s and brother;s name ...i believe these ppl were smarter than me ...so it is understandable for them not to hold under their own names, especially if SDL is going to generate substantial Captial gains

It's not unusual for company directors not to hold shares in their own names but to hold them through a company structure or in the name of some other nominee.

There are valid tax, estate planning, public liability etc reasons to do so and I wouldn't draw any conclusions about the merits of SDL from this. What is important, is the level of beneficial ownership, however registered, that directors have. These must be disclosed in annual reports with changes notified and announced promptly via the ASX. It's also important of course to know whether a director has subscribed his own money for the shares and at what price - an initial "cut-price" perhaps? - or has purchased on market or whether the shares have accrued through favourable option deals.

As an aside, I noticed that SDL don't appear to list the 2009 Annual Report on their website, or at least it's not listed in the "Reports" section.

Disc: Not holding SDL.

of course most directors or individuals such as myself don't hold enormous quantities of shares in our own names - poor for tax or asset protection.

but if a director holds in a company or trust it still shows up on the register as having a holding interest in SDL.

Ken Talbot had 433 Million in talbot Holdings + others in childrens names etc - it is no secret, whereas the other directors had virtually NIL shares in own name or associated entities - so why not????

ASX notices suggest that SDL will be taken off the trading hault in 2 weeks time.

I have a contrarian view that SDL will not tank to 7 cents on re-listing but will in fact rise in value to 20 cents.

Why you ask?

SDL got very little press in national or international news over the last couple of years.

Unfortunately, due to the tradgedy - everyone knows about SUNDANCE RESOURCES now. It has never had so much publicity as it has in the last month. There is an air of "we must bring this project to fruition' as a show of respect for the lost directors. And the Cameroon govt really wont it to succeed too.

I think the infrastructure to port and mine will proceed now and the SDL price will rise stadily as a derivative of the income potential month by moth and year by year. IMO, long term holders if stay with it will be big winners.

LRG said:

ASX notices suggest that SDL will be taken off the trading hault in 2 weeks time.

I have a contrarian view that SDL will not tank to 7 cents on re-listing but will in fact rise in value to 20 cents.

Why you ask?

SDL got very little press in national or international news over the last couple of years.

Unfortunately, due to the tradgedy - everyone knows about SUNDANCE RESOURCES now. It has never had so much publicity as it has in the last month. There is an air of "we must bring this project to fruition' as a show of respect for the lost directors. And the Cameroon govt really wont it to succeed too.

I think the infrastructure to port and mine will proceed now and the SDL price will rise stadily as a derivative of the income potential month by moth and year by year. IMO, long term holders if stay with it will be big winners.

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LRG, you are spot on here man. There is no such thing as bad publicity and this applies to SDL. It has had world ignition and expect the chinese to come in now with George Jones at the helm. GJ also got Gindalbie their chinese partner and had big connections there.

Also, cannot believe no-one spotted today's major announcement. READ THE SHAREHOLDINGS. GJ has 15 million shares in tax related entities and Adam rankine-wilson has 13 million shares in tax related entities. What is that telling you. HELLO, anyone out there??

I did spot this - forgot to comment on it.

Yes, it is a good sign that they have more than me!

They need it too succeed too!!



LRG, you are spot on here man. There is no such thing as bad publicity and this applies to SDL. It has had world ignition and expect the chinese to come in now with George Jones at the helm. GJ also got Gindalbie their chinese partner and had big connections there.

Also, cannot believe no-one spotted today's major announcement. READ THE SHAREHOLDINGS. GJ has 15 million shares in tax related entities and Adam rankine-wilson has 13 million shares in tax related entities. What is that telling you. HELLO, anyone out there??

I read in our Brisbane Courier Mail today that Ken Talbot's funeral is on this Wednesday at 10.30 in the city Cathederal followed by a wake at the football stadium where rum & coke will be had - Ken's favourite drink.

I am going to go to the ceremony to show my respect. Ken was the reason after his success in Macarthur Coal that I put all my money into SDL.

I am hopeful that his good work / legacy will come to fruition on SDL some time in the future for all of us holders.

Still shocked and sadened by the events of the last few weeks. Life is a lucky dip or not isn't it - random acts.

cheers

Hello all,

all has been pretty quiet on this thread for a while now - strange?

I went to Ken's funeral in Brisbane on Wednesday - about 1100 people there. I learnt so much about the guy I didn't know. Most importantly his word was his bond on a handshake, he was very charitable, he loved his family and friends so much, he was very humble - "just a simple miner" - he was no snob and was worth around a billion. Many people came to farwell him. Life is fragile. His son Liam spoke so well as did his business associates and Wayne Bennett - very moving service. He abviosly believed in the future of Sundance as does the new board. What ever happens good or bad will happen. I don't worry any more about if it fails or succeeds - I just have afeeling it will be successful, but if it doesn't - it's not the end of the world, I will still be around to try something else in my endeavours. All the best to Ken's surviving family and especially 2 young daughters. GR

Oh, and ASX announcement today.

SDL has applied to come off trading hault on Monday.

rollercoaster ride or not???

interesteing time ahead.

cheers.

not a bad resumption to sundance considering the events in the last month.
i believe theres positive times ahead here.

very happy to see the stock back trading around 14c! up 16% so far with 21m traded through! they have a investor presentation today. It may have created some interest with the exposure of the last month!

has hit 15 cents today.

just goes to show what a bit of publicity can do.

also the report / presentation out today is very positive and shows that they have re-mobilised very quickly to shore up SDL.

The future is looking okay IMO.

Lioness - where are you?? Hope you did not sell out on the open yesterday.

LRG said:

has hit 15 cents today.

just goes to show what a bit of publicity can do.

also the report / presentation out today is very positive and shows that they have re-mobilised very quickly to shore up SDL.

The future is looking okay IMO.

Lioness - where are you?? Hope you did not sell out on the open yesterday.

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I am still here and waiting for my 50 cent target.

I reckon all this buying is due to a takeover offer coming sooner rather than later. See below stockbroking firm putting a 66 cent price target on them:

Sundance shares dip less than expected

PERTH, July 19 AAP
July 19 2010, 6:34PM
Shares in Sundance Resources Ltd slipped after the iron ore explorer emerged from a month-long trading halt entered into due to the death of its entire board in a plane crash in Africa.

Sundance shares finished down one cent, or 7.69 per cent, at 12 cents after hitting a low of 10.5 cents in intraday trade, with 65.8 million shares changed hands, making it the most traded stock by volume on Monday.

But analysts were expecting a bigger drop.

"The drop wasn't too bad in the context of a falling market," IG Markets strategist Ben Potter said.

Shaw Stockbroking research analyst Geoff Mures said Sundance had "held up quite well" given iron ore mining stocks had being weak in the past month amid softer spot prices for the bulk commodity.

Broker StoneBridge Securities Ltd last month slapped a "buy" recommendation and a 12 month target price of 66 cents on Sundance.

Mr Mures said Sundance could be seen as a takeover target and therefore a buying opportunity.

"Someone may seek to take advantage of the (share price) weakness and rather than do a (joint venture) deal, take over the company," he said.

Sundance on Friday said it was in discussions with potential strategic partners with an interest in building, operating and financing key project infrastructure.

With Sundance's Mbalam project in Cameroon expected to cost more than $3 billion to develop due to considerable infrastructure required to bring product to port, Sundance needed a joint venture partner with deep pockets, Mr Mures said.

Sundance also on Friday said it had received environmental approval from the Cameroon government for the Mbalam project.

"They've continued to make good progress ... and it's a long life project," Mr Mures said.

The Sundance board's plane went missing en route to Mbalam on June 19 and the news of their deaths broke on June 22, when the wreckage was found in the Republic of Congo.

Shareholders will vote on August 16 on whether to appoint reinstated Sundance chairman George Jones, commercial lawyer Michael Blakiston, investment banker Adam Rankine-Wilson, mining industry figure Barry Eldridge and former KPMG partner Fiona Harris as board members.

By Rebecca Le May

http://www.tradingroom.com.au/apps/.../7/200/catf_100719_183400_8003.html:rolleyes:

Don't know about takeover target, but certainly the 66c price target and loads of major news coverage has vaulted SDL to the front and centre of lots of peoples attention!

It was interesting to watch the orders fill up after the suspension wiped all previous - beforehand there was the huge backlog of sell orders left from a couple of years of traders jumping in and out and buy-highers hoping for a price spike to rescue them from their position.

Now we see the buy side at 3x the sell side, which is a big turnaround, and bodes well for the SP. SDL are obviously undervalued, and although previously this might have been justified given their position out in the jungle, now I think people are realising that even with a multi-billion $ capex that the financials of the project are simply outstanding.

I'm loading up, and if you're reading this Nioka, which you should be given it's one of the few stock threads active, this is a share worth getting on IMO.