Hey Guys
Contrary to what a lot of downrampers have been saying on HC, SDL has been drilling in 1H 2011!
With 10,000m of drilling in the June quarter alone!
And what is very very exciting is that Sundance has just announced in their quarterly report that in Q3 2011 we will see a resource upgrade towards Indicated as well as a TOTAL INCREASE IN THE HIGH GRADE DSO HEMATITE JORC COMPLIANT RESOURCE!
Looks like the Sundance explorers were shallow drilling at Nebeba 150m to increase the DSO Resource! The Itaribite resource which lies underneath is yet to be touched!
I like the sound of "Nebeba Itabirite having similar characteristics to the Mbalam 2.3Billion tonnes Itaribite!
And that the 2.3 Billion tonnes Itaribite mineralisation is of the highest quality on the African Continent!
Which leads me back to previous quarterly announcements at Nebeba that displayed drilling results that showed "targets of interest" which then became actual new additional DSO Hematite drill holes!
Then new "targets of interest" were announced in subsequent quarterly announcements which have recently been drilled and a JORC resource increase will occur in Q3 2011!
And as was mentioned by other long term SDL holders, the $60m raised recently WAS used for drilling!
And my fav part below! INCREASE IN INDICATED AND INFERRED DSO HEMATITE RESOURCE!
By continually drilling and increasing their resource to from the current 500 million tonnes to 650 million tonnes!
This will allow them to increase their annual production volume of the highly profitable hematite from the current 35 million tonnes per year to 50 million tonnes per year!
Or even at this conservative 50 million tonne per annum production run means Sundance will be mining more Iron Ore than Fortescue did this Financial Year!
Long term SDL holders, its time we started to ignore the downrampers, let Mr Jones and Mr Casello and their team do their job of building this business and don't let them steal your shares!
Cheers Nectar
