Fantastic announcement today! It shows that all the targets SDL have set are still going to be hit. FID later this year followed by the start of construction.
I have to say well done to Giulio and George who have done a wonderful job in the last few months. This all backs up what Giulio has been saying:
"We are targeting to have a strategic partner selected by the end of June, so we can then move towards a final investment decision towards the end of September," - Giulio Casello.
As GC says in that quote - 'we are targeting by the end of June'. It sounds like SDL will have selected it's parter by or around 30th June 2011 and we will hear in the next few weeks who it will be.
Here are the companies that I think SDL are talking to:
1.) WISCO 2.) Baosteel 3.) China Metallurgical Group Corporation 4.) CITIC RESOURCES 5.) Ansteel
I've thought all along WISCO would be the choice and nothing has changed my mind on this yet.
I say lets all be patient and have some faith in the highly credentialed management lead by Giulio and George. They will deliver the goods to SDL shareholders in my opinion.
Slats.
SDL Price at posting:
31.5¢ Sentiment: Buy Disclosure: Held
