thanks for nothing i am down 300k, page-36

Leng, the reason SDL has been sold down this far is finance concerns. Its not just SDL who have lost the majority of its MC. The stock is worth around 170m at 8.9 cents. I doubt the project can get off the ground in the current environment (my personal opinion).

GBG has been sold down to the same level, MMX a producer is around 300m. MGX 575 million etc. The list goes on.

Use FMG and MGX as market leaders, its not pretty. The recent MGX announcement has scared investors, and rightly so.

SDL has worldclass deposits, no one doubts it. The issue is getting it out of the ground. A 400km inland African project with no finance was always risky. CAPEX is around US3.3 billion, where in the hell are they going to find that in today's market?

I use to hold a small parcel of SDL, but sold out 2 weeks ago. I'm a GBG fan with 60-70% paper losses at present (I dare not look at my position statement after friday). I'm all for iron ore, and strong for longer. However you must realise the outlook isn't great, and risk has substanially increased.

Goodluck, and I hope it gets off the ground. I'd say a JV approach is the only way. I'll happily rebuy SDL, asap some finance is obtained.