So SDL 1.5 years ago looked similar to DMM in my opinion.-> IF...

So SDL 1.5 years ago looked similar to DMM in my opinion.

-> IF <- the deal goes through then comparisons below:

SDL today:

Cap: 934
Cash: 76
Options: 120@10c

90% Target 1bt Fe with Maybe 200mt high grade @ 60% Fe.
2 billion Capex.
Eg 41m@63% Fe.

No railway.

DMM:

Cap: 18 (assuming 35m shares on issue)
Cash: 2
Options: 14 + 11 @20c

80% target 750mt Fe.

Railway within 30km.

>>>>

Please check these figures yourself, as my data is always slightly out of date.