Thanks for having a go at backing up your accusations. I rate your effort as zero out of five as follows:
1. You have been selective and manipulative. You have gone back 3 years ago to October 2012. Go back 3 years before that I was top 20 SDL. Times change. I quite clearly identified an investment switch of circa 12 months ago. So your quote from 3 years ago is (as usual) irrelevant. Try my comment on 5/2/15 on the EQX thread: "For what it is worth, my thought is that EQX Management will not just sit around looking at their cash pile. Either they pull a rabbit out of a hat on Mayoko or expect a new Middlemas play to come into the company. As a shell EQX has CASH of $38million and a market cap of $29 million. DYOR and think about that: Buying shares in EQX currently you not only get Mayoko AND Badondo for free (zero EV) but also get about 20% free cash. Buy EQX for 23c and you get 31c cash backing. Amazing. When you buy a SDL share currently for $0.02.6 you get $0.008 of cash backing (that is less than 1c and dropping very fast as they burn), 1.8c in project value (?), and (wait for this) 2.7c in debt (convertible notes). Good luck!"
This quote above is more representative and more accurate of my recollections. In actual fact, reviewing my trading statements over a 6 month period last year) my average exit price from SDL was 6.7c (which was a loss having re-entered the stock at circa 10c) and my average re-entry price into EQX was 25c. I am still holding EQX at a small profit and have avoided a massive loss on SDL.
2. I have never claimed I am always correct and that I never get it wrong. This is something you regularly accuse me of along with worming etc. In fact I have often got it wrong. I am honest with my convictions and happy to debate my point of view. I make many mistakes but fortunately make more good decisions than bad and so have been extremely successful over a long period of time as an investor.
3. Lolabe port is part and parcel of Kribi: https://en.wikipedia.org/wiki/Lolabé
You are being pedantic. Is this really the best you can do? This is your smoking gun of how I do no research and know nothing at all? I referred to Cameroon as West Africa? Or I described the Sundance port as Lolabe instead of the more defined area represented by Kribi? Get real mate - none of that changes the investment thesis.
4. CMEC walked away from Belinga. They were paid US$30 million in compensation when they did. You are discussing a topic where a google search does not reveal the actual political situation or the reality of what occurred. I stand by my statement. We disagree on this point.
5. I have never said SDL is not capable of producing a pellet product or that SDL have not claimed they could sell into Europe. Every West African iron ore hopeful has claimed they are going to sell into Europe. What I AM saying is that they are unlikely to be successful and that their claims are not supported by my assessment of reality. I have read their claims and the announcements. I disagree with them. I have told you why I disagree and the support for my argument. You can chose to agree with me or with SDL or with anyone else you may like. Up to you. But don't claim I have said things I haven't in order to discount my opinion.
So I do not stand corrected on any of the points you raise. We disagree but you have not identified anything which I would wish to restate or that I am not willing to debate. Your often claimed accusation that you have proven me wrong or that my statements lack research is total rubbish.
Now, lastly, lets look at our track record. What have you been correct on so far? How are you going with your assessments of SDL's position and your investment track record? Would you say you've got it right so far?
By the only measure that actually counts I have been correct on my call on SDL. And it is only going to get more obvious as time goes by.
J9
SDL Price at posting:
1.2¢ Sentiment: Sell Disclosure: Not Held
