Ann: High Grade Ore Reserves Increased by 24% , page-2

So in mid 2011 Hanlong was willing to stump up .57c a share to own a rescource of 251.5 million tonnes of high grade hematite direct shipping ore. Now after dragging this rubbish proposal along for one and a half years Hanlong are now willing to pay .45c a share for a rescource of 436.3 million tonnes of high grade hematite direct shipping ore an increase of 184.8 million tonnes at 25% less.

From 10 years to now 12.5 years of scrapping the surface for 63-65%fe direct shipping ore at 35 million tonnes a year not even taking into account the endless rescource of itabarite. The rescource just gets better and better and in the best interest of the shareholders GJ would lead us to believe this is a great deal.

I for one would like an explanation as to what changed so dramatically from GJ statement of May 2011.

On 23 May, SDL’s CEO stated,
“We’ve actually had a player come back into the fold… It's one of the big guys that had sat
on the edge before so we've actually got more now than we had two months ago. It was four
at one stage; it went to three and now it's five. That's just the Chinese. We still have a couple
of parties outside of China… I still want to make a decision by June 30, but only if we’ve
been through the right amount of due diligence… This big guy's just joined in. They're doing
all the rights things to get done be around that time. But if they don't, I'm not going to cut it
off on June 30 just to make an announcement.”
On 29 June, SDL stated that it had short listed preferred potential partners and had entered
into commercial negotiations.

So of all the big players you have chosen to lead us down the garden path of a minnow like Hanlong, and bending over for every part of this scheme Hanlong have not been able to achieve. Well done GJ and co.

I am left wondering if you lot could organise a successful chook raffel.