some analysis please, page-4

Trader

my take on thinkgs

The insider trading may have been front running by local employees of the Sichuan Hanlong Group Bid...The bid is originating from China and there's no doubt the local sydney based team would have been privy to this and front runned the offer...hence the movement in the stock from 32c to 40c pre bid....This is where I feel the insider trading charges lie...It was well documented the stock price movement in the week before Hanlong's offer.

The offer from China is genuine but they now have massive egg on face...The chinese do not like to lose face.

This may cause a few things

No comment from Sichuan Hanlong Group and continuing discussions with SDL announced

A review of the offer by Sichuan Hanlong Group

A firm committed bid at 50, 60 or whatever price

A new player such as Xstrata now entering room

Fact of the matter

Look at SDL on a stand along basis

World Class Project
POsitive NPV's and economics
Other big players in the data room
Iron Ore Environment is highlhy positive
In JV discussions ( jeez love more news though)
Broker Valutions from 68c to $1.00 per share
Top quality management
At high 30's it is still exceptionally cheap