comparing with fmg, page-8

In my opinion the spike for FMG wasn't excessive. Remember late 2007 early 2008 FMG did a one for 10 split of their shares. If it wasn't for that split FMG would now be trading closer to 68 dollars per share. From memory I think around about 35 dollars a share when they did the split.


That was and is the big difference between SDL and FMG being the number of shares on issue pre-development and into mining. Majority of FMG funding was not equity,

If you go to SDL website and look at the broker reports I think from memory they have a $2.00 something valuation in production.

I like SDL but in my opinion you will not get the 26x increase

William