There has been talk over the past few days about the Chinese close to securing some long term iron ore supply independent of the incumbent major suppliers. I think that we will soon hear of a deal with a Chinese consortium in regards to financing and subsequent derisking of the project. Long term we should expect an FMG type market capitalization here at SDL, and that can only mean some serious share price appreciation. Still trading at a handsome discount to the current 41c placement to the Brits. Short term target 42c at the 20 day ema.
SDL Price at posting:
38.0¢ Sentiment: None Disclosure: Not Held