Matt,
Matt you like to spout the big headline numbers to drum up SDL's prospects.
Take Tonkolili for example. The project value based on the new Chinese deal is approx. $6 billion as you have said (ie the new Chinese partners are contributing about $1 billion for a 16.5% stake).
Please correct me if I'm wrong but the market cap of African Minerals is approx. £ 674 million (on an undiluted basis) or approx. $AUD 1.27 billion, a far shout from $6 billion.
Also don't forget that Tonkolili has been reported to have achieved a rate of production of DSO of 20MTpa at a development cost of about $1.7 billion, a far shout from where SDL sits at present (what a few ten million in the bank and zero production stats).
I could go on and add some reality to the other projects you are using as examples, but I'm sure it won't stop you with your $1.60 share ramping exercise.
I thought SDL looked tasty at 6.7 cents but didn't jump at the time. Too much risk. IMO at 9.5 cents there is still some hope for holders if they trade out. Still too much risk for me.
All still about negotiations, time keeps ticking, market getting edgy again. Long way from any deal on the mine IMO and deals can always come unstuck as everyone saw with Hanlong.
Sentiment: Sell when you get a chance.
SilentO
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