drilling, page-65

Hi (snopandsnap)

You see your friends got it wrong like a lot of us.
That was all on the announcement about the J.V with GBG.

I agree with your thoughts when thinking about building in Africa.The thing to remember is that the people who will be building Port,Rail and all other infrastructure will be top people in the world in their field.They will have built projects like this many times before.

If you take out the hype about the GBG J/V with SDL the share price was in the range of 40 to 50 cents before word started getting out.We are around 5 to 6 times below that price.

FRS are more nearly 8 times lower than their high last year.I hold FRS and think they will do very well.

BRM have come on in the last month or so,even then at 60 cents as they were 2 months ago they were over 5 times lower than their high of 2008.
As I have said to you before you can not compare SDL and BRM.Wayne raised the cash at the right time.There would not be many of the junior iron ore companies in Australia with as much cash as BRM and with so many upside positive (I hope/not certain) announcements being awaited.
So I think it would be unfair to compare BRM with SDL.

There are plenty of iron ore stocks that are worse off than SDL.

FMG took about 2 years to build their rail line.SDL are looking at three years from starting to build.
You are saying you think it will take them 4 to 5 years.
It could turn out that way we will have to wait and see,we can only go by what we have been told by the company.

Regards
Westcott.