SDL - Sundance Resources
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Can anyone give any opinion of the directors?
Interested in buying at around 20c but dont want to contribute to a slush fund.
Last quarter cash flows indicated 10 million spent on exploration and 8 million spent on administration. Is it normal for administration to take up 44% of expenses at this stage of development? I know you need a lot of cash lubricant in a country like Cameroon.
I would have thought the administration value of $8m would include all the DFS costs wouldn't it? That would be all the engineering, etc. which given the scope of what they are looking at would be no small exercise. Also includes all costs associated with plane crash, repatriation of bodies, etc.
IMO the current directors all appear to be genuinely interested in getting SDL across the line to achieving production...although of course they would be given the benefits that would accrue to them if they do get that far
Am in agreeance with previous posts that posit a settling around 18-20c if news flow is not regular from here...although I think the directors are well aware of the need for regular flow of news from here on in if they are to maintain SP rises. Of course getting the SP as high as possible is of huge benefit in 2-3 months for financing in terms of possible further dilution with issues for financing/partnerships etc.
I'm loading up with all I've got from here on in as I think, and refer to previous valuations done in this thread, that lioness' estimates are pretty much on the mark, eg 50+ by years end and $1 within 12 months - ASSUMING all deals are locked in obviously.
Can anyone give any opinion of the directors?
Interested in buying at around 20c but dont want to contribute to a slush fund.
Last quarter cash flows indicated 10 million spent on exploration and 8 million spent on administration. Is it normal for administration to take up 44% of expenses at this stage of development? I know you need a lot of cash lubricant in a country like Cameroon
An odd question if ever I have seen one. These are new directors chosen by the majority shareholders recently. They face a huge task and seem to be keeping the company on track. To do this so soon after the tragic loss of the complete board is a feat that should be admired.
The company is not a production business at this stage so there are no production costs. The company is getting organised as a prospector for iron ore in two foreign countries. It should develop into a miner. In the meantime expect a lot of expenditure to be administrative.
Thing are moving with great pace. go go go
MBALAM PROJECT MOU WITH
CHINA HARBOUR ENGINEERING COMPANY LTD
China Harbour Engineering Company Ltd (“CHEC’’) and Sundance Resources Ltd
(“Sundance”) are pleased to announce that they have entered into a Memorandum of
Understanding (“MOU”) to establish the scope, cost and delivery programme for the
proposed bulk materials port at Lolabe, Republic of Cameroon. The Port is needed to
support Sundance’s Mbalam Project in Cameroon and Congo, West Africa.
MBALAM PROJECT MOU WITH
CHINA HARBOUR ENGINEERING COMPANY LTD
China Harbour Engineering Company Ltd (“CHEC’’) and Sundance Resources Ltd
(“Sundance”) are pleased to announce that they have entered into a Memorandum of
Understanding (“MOU”) to establish the scope, cost and delivery programme for the
proposed bulk materials port at Lolabe, Republic of Cameroon. The Port is needed to
support Sundance’s Mbalam Project in Cameroon and Congo, West Africa.
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Market seems to be jumping in with this news, 12% gain high volume open today. nice!
Yep, and I reckon there's enough news from here till the end of the year to keep these coming regularly (maybe one every one-two weeks?) to keep the fire lit under this rocket
I really hope that everyone out there who is watching this gets at least some of the action, coz we all remember seeing FMG at 2c or PDN at 5c and thinking afterwards why the hell did I not get on these and stay on them???? For mine it will certainly be a game maker if they get to our targets - here's hoping
I really hope that everyone out there who is watching this gets at least some of the action, coz we all remember seeing FMG at 2c or PDN at 5c and thinking afterwards why the hell did I not get on these and stay on them????
For mine it will certainly be a game maker if they get to our targets - here's hoping
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Bolly bands got me in on the 2 Aug and i am out today.
I am wondering now (hindsite) how far can these new guys go...
they are back in the watch-list Time will tell if i get back on.
I am wondering now (hindsite) how far can these new guys go...
they are back in the watch-list Time will tell if i get back on.
If they dont keep hitting the market with good news i think it will slowly come down.
I'm still sitting on the side line pondering whether I have missed the boat...I have surely missed the first boat.
Very high volume today - a lot people taking profit I assume
I'm still sitting on the side line pondering whether I have missed the boat...I have surely missed the first boat.
Very high volume today - a lot people taking profit I assume
hi sorcar first post here
I wanted to buy after the crash on purely emotional grounds
Finally had some cash last week and put 70pc into SDL @ .21
Very happy obviously
Have done heaps of study on SDL and think it is my safest bet ever
SP may go down a little but in for long haul
Cheers
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
The above were posted on July 20th. In less than 2 months the SP has gone from 11.5c to todays price of26.5c.
This stock and the progress it has made in that short time shows the value of the information that is available for those that log on to ASF.
Not that I am suggesting that all information here will get the same results. However if it had not been for stock forums I may not have decided to look into the fundamentals that influenced my decision to invest in this stock.
The company management seems to have overcome the tragic accident that could have set the company on a path to destruction. They are to be congratulated. Progress is better than I had anticipated. If the Chinese demand for iron ore continues then I'm confident that SDL will prosper.
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Wrong. I can make any comment I like. I don't need you to tell me whether or not I can comment. I am a long term holder and have followed every development in this company.
You can search for yourself my history in this forum if you know how to do it.
I am well aware of the plane crash, and the outcome and the meaning for this company.
Some of us have way more miles with this company than you. (I notice that you are a very new contributor to this forum, so I'll give you the benefit of the doubt and say you were going off half-cocked)
Or you can simply continue to act ignorantly. Your choice I guess.
Please have some respect for the fine men who have delivered a profit-making opportunity to you.
There were a lot of hard yards put in before the BOD that you now see. The current BOD, while very accomplished, did not put SDL where they are today by themselves. An exception and an exceptional person is of course Mr. George Jones. :aus:
Well the question was - what was peoples opinion of the directors - implying that the directors were spending too much money on administration. Such spending would of been done by the past directors. Hence why I said that it you couldnt really comment because there are a new set of directors. So even if the previous were over spending on administration - the new directors could be completely different.
Sure you probably could still comment on it (and its only my opinion) - but in no way did I think my post was out of line, and in any case it didnt deserve a response like yours.
http://www.businessday.com.au/business/sundance-rides-high-on-chinese-port-wave-20100914-15a3d.html
Sundance rides high on Chinese port wave
September 14, 2010 - 5:49PM
Sundance Resources has appointed a Chinese engineering firm to cost and plan a bulk materials port in Cameroon to export iron-ore, prompting its shares to rise to a two-year high.
Sundance is also seeking a project partner to provide equity and sign a 10-year offtake agreement for its mines.
The Western Australia-headquartered explorer said it entered into a memorandum of understanding with China Harbour Engineering Company Ltd (CHEC) to establish the scope, cost and delivery program for the 35 megatonne per annum Lolabe Port.
The agreement follows last months deal with CRCC China-Africa Ltd to scope and cost the Mbalam projects 490km railway line.
Sundance said the deal is another big step forward for its Mbalam project in Cameroon and the Congo, which faces unique challenges to do with infrastructure and remoteness.
I think it is giving the market confidence that there is a delivery solution for this project, Sundance chairman George Jones said. These agreements will fix the delivery requirements for our logistics infrastructure from mine to ship.
Shares in Sundance gained 1.5 cents, or 6 per cent, to close at 26.5 cents, the highest since September 2008.
The biggest and best railway builders and port builders in the world are the Chinese, Mr Jones said. They are very keen and will be able to deliver a bankable solution.
Mr Jones said the company was talking to potential investment partners.
Were talking to a wide range of potential participants, not all from China, Mr Jones said. I know a lot of steel mills and we are talking to them all.
Mr Jones said the company was forging ahead with plans to finalise all foundational agreements this year, so it could begin the two and a half year construction timetable mid 2011.
There is a lot happening, the company has indicated it would like to complete all of these types of negotiations by the end of this year, Mr Jones said.Were hoping to start construction mid next year.
Mr Jones said the company continued to move forward following the death of six of its board members in a plane crash in West Africa in June.
It is ten weeks ago now, the scar tissue is healing over, Mr Jones said. We have been looking for a new chief executive and hopefully we will end that process shortly.
These people were all friends of mine and the last 10 weeks have been very tough for me.
I assure you we are forging ahead.Sundance had not agreed to enter into a delivery contract for the port project with CHEC.
AAP
Sundance rides high on Chinese port wave
September 14, 2010 - 5:49PM
Sundance Resources has appointed a Chinese engineering firm to cost and plan a bulk materials port in Cameroon to export iron-ore, prompting its shares to rise to a two-year high.
Sundance is also seeking a project partner to provide equity and sign a 10-year offtake agreement for its mines.
The Western Australia-headquartered explorer said it entered into a memorandum of understanding with China Harbour Engineering Company Ltd (CHEC) to establish the scope, cost and delivery program for the 35 megatonne per annum Lolabe Port.
The agreement follows last months deal with CRCC China-Africa Ltd to scope and cost the Mbalam projects 490km railway line.
Sundance said the deal is another big step forward for its Mbalam project in Cameroon and the Congo, which faces unique challenges to do with infrastructure and remoteness.
I think it is giving the market confidence that there is a delivery solution for this project, Sundance chairman George Jones said. These agreements will fix the delivery requirements for our logistics infrastructure from mine to ship.
Shares in Sundance gained 1.5 cents, or 6 per cent, to close at 26.5 cents, the highest since September 2008.
The biggest and best railway builders and port builders in the world are the Chinese, Mr Jones said. They are very keen and will be able to deliver a bankable solution.
Mr Jones said the company was talking to potential investment partners.
Were talking to a wide range of potential participants, not all from China, Mr Jones said. I know a lot of steel mills and we are talking to them all.
Mr Jones said the company was forging ahead with plans to finalise all foundational agreements this year, so it could begin the two and a half year construction timetable mid 2011.
There is a lot happening, the company has indicated it would like to complete all of these types of negotiations by the end of this year, Mr Jones said.Were hoping to start construction mid next year.
Mr Jones said the company continued to move forward following the death of six of its board members in a plane crash in West Africa in June.
It is ten weeks ago now, the scar tissue is healing over, Mr Jones said. We have been looking for a new chief executive and hopefully we will end that process shortly.
These people were all friends of mine and the last 10 weeks have been very tough for me.
I assure you we are forging ahead.Sundance had not agreed to enter into a delivery contract for the port project with CHEC.
AAP
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A good deal of profit taking on the 14th and 15th .. now im just wondering are we gonna see a 'head and shoulders' pattern here or is the 0.26 mark going to be sundance's next plateau?
Looking at the SDL's chart from the end of the trading halt to the announcement of the MOU for the rail line..SDL seems to like plateaus:
Looking at the SDL's chart from the end of the trading halt to the announcement of the MOU for the rail line..SDL seems to like plateaus
:Johnny Utah
Johnny Utah
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See attached the interview with George Jones today.
This is a small wrap from DJ-
SYDNEY (Dow Jones)--Sundance Resources Ltd. (SDL.AU) expects to arrange offtake contracts and project finance for its Mbalam iron ore project by the end of the year.
In an interview released to the Australian Securities Exchange on Friday, Chairman George Jones said that talks with strategic partners are "well advanced" and foundation agreements with steel mills would be in place by the end of 2010, allowing construction work to begin next year.
The company has resources of 415 million metric tons of hematite ore and 2.3 billion tons of itabirite--a lower-grade variety of iron ore common in Brazil--at its tenements along the border between the central African countries of Cameroon and Republic of Congo.
The project is dependent on the construction of a 450 kilometer railway line and port at Lolabe in Cameroon. Sundance shares have risen more than 50% since it announced a memorandum of understanding with China-Africa Construction Ltd. on Sept. 8, entering discussions to build the railway line, while a separate port deal with China Harbour Engineering Co. was signed on Sept. 14.
This is a small wrap from DJ-
SYDNEY (Dow Jones)--Sundance Resources Ltd. (SDL.AU) expects to arrange offtake contracts and project finance for its Mbalam iron ore project by the end of the year.
In an interview released to the Australian Securities Exchange on Friday, Chairman George Jones said that talks with strategic partners are "well advanced" and foundation agreements with steel mills would be in place by the end of 2010, allowing construction work to begin next year.
The company has resources of 415 million metric tons of hematite ore and 2.3 billion tons of itabirite--a lower-grade variety of iron ore common in Brazil--at its tenements along the border between the central African countries of Cameroon and Republic of Congo.
The project is dependent on the construction of a 450 kilometer railway line and port at Lolabe in Cameroon. Sundance shares have risen more than 50% since it announced a memorandum of understanding with China-Africa Construction Ltd. on Sept. 8, entering discussions to build the railway line, while a separate port deal with China Harbour Engineering Co. was signed on Sept. 14.
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Recovery appears to be on the way.
Fibonacci suggests yesterday's Close may have been THE support. If true, I'd imagine 42c wasn't impossible.
Not holding yet, but bidding 24c.
(Note: 23c has been support and resistance several times in the past few years.)
Fibonacci suggests yesterday's Close may have been THE support. If true, I'd imagine 42c wasn't impossible.
Not holding yet, but bidding 24c.
(Note: 23c has been support and resistance several times in the past few years.)
I note with interest that Sundance has been on the move north again the last couple of days.
Today so far it is on highgs of 27.5 cents (+ 2 cents) without any real news.
For some reason, there are more buyers than sellers.
From the timeline put out by SDL - the definitive drilling report or signing of MBalam convention is imminent?
Today so far it is on highgs of 27.5 cents (+ 2 cents) without any real news.
For some reason, there are more buyers than sellers.
From the timeline put out by SDL - the definitive drilling report or signing of MBalam convention is imminent?
Really with all the progress that has been made with 2 mou's for rail and port. The fact that the resource is already in ground and will only grow. Plans for finance, offtake agreements and govt approval well advanced( by end of year). Sundance is extremely undervalued. Now the new board has proved themselves with move forward in leaps and bounds toward construction of mine to start mid next year, i think interest will only get stronger. This could be last chance to hope on board.
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