what hanlong did with the media was so obvious and most ridiculous in a past few weeks. these leaked revised offers through the media are jokes to public now. unethical media use these stupid fake reports to misguide crowd is absolutly disgusting.
John Corr, chief investment officer and MD of Sydney-based Fortitude Capital, a Sundance shareholder, told the Wall Street Journal the majority of existing shareholders would welcome a discounted deal.
who is this John Corr? is he even a real people? if he is, how can he represent us shareholders?
'the majority of existing shareholders would welcome a discounted deal'.......(how desperate they are to make up a comment like this)
from my point of view, next time John sells his house for bankruptcy, he should happily write sometime like that on the board 'welcome a discounted deal'.
so why are hanlong so disparately to keep us informed about confidential negotiation? Who are these anonymous sources?
if you think logically, it is not too hard to found that china WANTS this deal very bad. all the excuses about iron ore spot price is a joke to the public. the reason why they call it a spot price is because it only represents short term interest. as far as china concerned, their GDP will most unlikely to drop down to less than 7% (taking the fact that we are already on the 5th year of recession). therefore iron ore price is ought to bounce back in the near future.
apart from shanghai, beijing, guangzhou and shenzheng, most of the china is still in a developing phase. iron ore is essentially for the its development and the resource is limited.
after years bullying from rio and bhp, they need some project that is bigger enough for them to rely on.
last but not at least, if you can read in mandarin, you will know that both chinese and australian media has not mentioned anything about sdl resource upgrade ever. NOT one article. However, chinese media are repeatly addressing the strategic importance of sdl's project. if you are smart guy, you will know the reason why they do it this way.
SDL Price at posting:
33.5¢ Sentiment: Hold Disclosure: Held
