It's the shorters last minute squeeze, page-26

Hi Jordan

I am not rich nor work for the company nor defending the management. I am just an ordinary investor and a die-hard gambler.

I am one of Hanlong saga victims. Most of my SDL shares were bought in 2012/2013, super expensive compared with today's ridiculously unfairly beaten price. I do have a very significant holding in this company because I did believe the China story and I still do. More importantly, I truly believe in the potential of this project and I can see we are many steps closer to succeed now than a year or so ago.

We all know that as of to date, iron ore is still irreplaceable. China needs iron ore, India needs iron ore, the whole world needs iron ore. I believe the current iron glut will not last forever. There are so many huge projects in the pipe line to be built in the next few years, e.g. the 7,000 km Beijing to Russia high speed train, the $12 billion Nigerian railway of which China will bring in their construction machinery, trains, steel products & other equipment. These are just a couple of example. There are many more infrastructures and urbanisation all over the world going to happen in the near and distant future. How much iron ore do we need? Besides, who knows what the iron ore price will be in 4-5 years time when the Mbalam-Nabeba project is up and running. We all know that Mbalam-Nabeba will produce the very high quality iron ore at very low cost. In my opinion, even the iron ore price stays at where it is now, our product is still very profitable. In fact, our off-take for the first 10 years is already sold to Noble. We don't have to worry about finding buyers. Have you noticed just days ago a downramper claimed that nobody will buy our products?

As to your question why I seem don't blame the Board/Management. Why should I? Unlike some posters, I don't know anything about their involvements in other companies. All I look at is what they do for SDL.

Many holders blame them for the Hanlong deal failure. Why blame them? I had been following the development and I believe it's a very unfortunate outcome. Hanlong still wanted to complete the deal even after Liu Han was arrested. No doubt the Board wanted to secure this deal as much as we did. Sadly, China won't let it happen. Yes, I agree there were areas that the Board could have handled better such as would not allow the deal to drag on for an extended period of time and penalties should be applied if the deal fell through etc. But these were history now. We all made mistake. We should move forward. Keep going back to history will not help us or the project at all.

I am not defending the Board/Management but I do believe SDL has never been in such a good position since the Hanlong saga although the share price is extremely disappointing. Some holders blame the Board for not giving the EPC rail contract to China, assuming China will bring their money to build our rail. Who knows what the true story is? As far as I am concerned, I won't blame them unless I know all the details and believe they made a wrong decision. I do believe the Board have made the best possible choice for the project unless somebody proved otherwise.

It's very frustrating that there are so much rubbish and lies posted here everyday by posters who have their own interest and motives. I spend a lot of time digging all the relevant information to share with all holders or non-holders, but some just chose to ignore the facts. One good example is the finance is estimated to wrap up in late 2015. The reason for this is I believe due to the pre-requisite by the lenders of the EIIIP which is targeted to be available by mid 2015. This information has been posted several times but some holders or non-holders would rather chose to talk about CR instead. The more CR is mentioned, the more chances we give the shorters to beat down the share price. Very sad.

Honestly, I believe many facts are already released to the market, either by the Board or by the media. Some posters have been so kind to post information they found to share with all of us. In fact, if we are willing to spend some time to study those materials and do a bit of analysis, it's not hard to guess the current progress of the project. We have to understand an iron ore project of such magnitude and complexities will not be built overnight, it will take years, not months. In my opinion, the Board/Management need our support and we should support them to get the job done and deliver the best possible results for the investors and the shareholders.

Sorry for the long reply. I hope I have clarified my position.

Hope we shareholders' support to the Board and the company will be paid off soon.

Pikapika

p.s. Life without shorters and downrampers will be so much better.