federal court approves scheme meeting ..., page-48

Donedeal

I own shares in westfarmers,a few years back they finalised a TO of coles where every tom dick and harry and hedge funds, ,super boards ,brokers were convinced that this was the wrong move (absolute lemon).Well look at them now,I participated in a CRing for $12,
since then a board and key management have worked their backside raw to make this TO a success.It came from the top and trickled down all the way down to the checkout chick.I also owned FMG shares again that somebody who is prepared to go the extra mile.Not long ago FMG (in the mids of IO price slide) were shot down by the establishment (brokers hedge funds media commentators)as not having their house in order or were totally over committed.Again total BS from "the market".Twiggy and his team showed "the market"for what numb nuts they are . FMG board have managed to restructure their fiance and have secured more coin to bed the company down on solid footings.

In both cases the board and management have success and building shareholder value in their veins and DNA.

Now let us look at the SDL board. Sitting on a uncut diamond(even an uncut diamond has value LOM 135.5 carat valued at$3.5 mil) ,with various multinational mining companies doing DD,promises of very close and final negotiations (between 3-5 bidders).........nada,silch 0,nix,in the bag.This board, that is held in such high esteem by the"entitled"have spend the year squandering shareholder value and have been played like a bunch of schoolboys flogging yoyos. At last years AGM waiving the "letter" is the point where the deal was lost.If management had any balls they would have told hanlong "on your bike"at that point. This would have set the tone of any further negotiations and we would have had evidence of how dinkum they were.This point also leads me to think that they have most probably never had a chat to any other company directors(share price totally destroyed) that have been "touched" by the hand of hanlong. If they had done this ,I believe ,but this is where I have no" commercial acumen",it could have had a better outcome.

SDL shareholders have lost the value of the resource(including the near 50% increase in ore) in negotiations(including hanlong in the negotiations,with no finance yet) that took place in April and May this year."go back and read the announcements in that time".Management have not told SH of this.That is why the permits and convention will appear by "magic" after the vote,because these will be awarded to hanlong and not to SDL. In those negotiations hanlong = CPR have proven to Cameroon govt that money is no problem.Have we seen any posts or articles from Cameroon not being happy with china ? Are they not desperate to start the project? With all the delays we had to endure one would think that Cameroon be on the barricades ...not even a peep.(because the deal was done)

.45c is only the goodwill of this diamond, imagine what the price including the resource would be.We have two "Camps" on the forum ,the "YES"brigade=sh.tload of "commercial acumen"who blindly follow a board (salesmen)that apparently explored and exhausted all the alternatives,......why would POSCO walk away from a tier 1 resource (that would still be profitable and meet all its initial capex repayments at prices where other miners are falling over).Has the board made any announcements of why the talks came to nothing? NO! This board made it clear that this deal goes to china.Don't bother knocking on this door.
SDL announcement defends hanlong after the insider trading debacle (insider trading took place long before SDL TO and this culture kept going under the watch of hanlong) and all this before the authorities have concluded their investigation.WOW
I could go on and on of all the BS that has been fed to SHs over time but that would make me a ("bitter and delusional twit")One thing I do know though, that "the market" is run like a pack of hyenas that move from scavenging on one kill to the next kill,and that "the market"with its short term view will one day scavenge on the" big three" and others who failed to have a go at cutting diamonds.To all the SHs that feel betrayed by this "low ball" TO ,the day will come where china can choose if and when and for how many $ they buy ore from the "big three".