Hi Westcott, Those statements about the costs in Canada made me think why?
On the ground the standard of living in Canada is very good, people dont seem short of toys (those who have jobs that is - leaving aside the US hangover for others).
So one can only assume that Canadians get so much more for the $'s they earn. They dont need as higher labour costs as we do for the same standard of living.
Have a look at the tax regimes and you will see that is where the difference is - The Australian Tax regime driven across the board on the Robin Hood principal of this so called federal government of ours is sending us to the wall. The sooner we have a federal election the better. In every hallway in every town in every state there is an umbrella stand with Nana's walking stick a few old umbrellas and a baseball bat waiting for election day. The sooner we all get to use those bats the better.
One can only hope that where companies are finding Australia too expensive that they will do as you say and shore up thier long term futures by locking the Chinese out of the Cameroonian Pilbara. It will not only help we SDL holders but also shore up the Pilbara's position.
However I'm still firmly of the view (a selfish one I know - Its my money) that I would like a floor set. If no one else jumps in then I suspect that is all I'm going to get in the timeframe that I am willing to have these $'s tied up. I fully accept however that others have a much longer term view and perhaps more p""ed off about the Chinese behaiour than I. I simply won't deal with them ever again. Once bitten!
I got into SDL on the basis of Ken Talbot's ability to get a prospect into production - he's not there anymore and I think there are other projects I would like to have a look at rather than being screwed by HL. There were a couple of young guys at Diggers and Dealers who are starting to get a track record of converting exploration targets to mines. Very impressive.
However at this point I am still hoping for the floor to be set, another bidder to arrive and the games to begin. So its a NO from me for a while yet. Best of luck GCA
SDL Price at posting:
33.5¢ Sentiment: Hold Disclosure: Held
