J9, As far as I'm concerned we have already experienced a total...

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Lion2009

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27

05/05/17

09:26

Post #: 24489402
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Originally posted by jayneen ↑

Rio under fire for their actions in Guinea with Simandou.
Interesting quotes from this morning's AGM from Rio chairman Jan du Plessis:
“There’s no connection at all between the so-called bribery allegations, as you called them, and the decision to withdraw from Simandou,”
It has been reported that Du Plessis said with capital costs of $20 billion, including $12 billion for supporting infrastructure, Simandou was simply a deposit the company didn’t wish to develop.
“The conclusion of the board was, we are miners, and to make an investment of that nature in infrastructure…it just didn’t make sense for us,” he said.
IMO If a company like Rio do not think Simadou is a "first class" asset then anyone thinking that Mbalm can be currently developed is on another planet.
It is interesting to check into the SDL threads from time to time and see the commentary from the true belivers (of which I was once among).
I remain amazed there is a positive tradable market cap in SDL.
My view has not changed form 2 years ago that it will not stay that way: At some point the outstanding debt will become a reality that obliterates and enterprise value and results in a total loss of shareholder value. My view is that the debt/bond holders will also have a total loss but that may becoem more inmtersting as it plays out.
What is certain is that anyone thinking iron ore will be produced and sold from this asset in our lifetyimes must either be dedluded or plan to be on the planet a lot longer than I will be.
If you dont agree than please accept no one will be happier than me to be proved wrong and I continue to wish you the very best of luck!
J9

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J9,

As far as I'm concerned we have already experienced a total loss of shareholder value..

SDL disease is terminal. Just awaiting the coroners report, before being buried in a shallow grave along with past and present shareholders.

What's your thoughts on the low grade magnetite IRD project SA. I think it's got no chance of getting up.
What's your view..

SDL Price at posting: 0.5¢ Sentiment: None Disclosure: Not Held
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J9, As far as I'm concerned we have already experienced a total...

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