sdl enter mou with core mining, page-28

Hi all

It's been a while since my last post, and have just been sitting back and taking it all in.
This latest ann.is very strategic in my view and just highlights the importance of major infrastructure. Core mining is a privately owned company with the backing of two major players in Severstal and Glencore.Severstal has a 16.5 percent stake in Core and are a huge steel company. As for Glencore, they invest in commodities and have the financial clout, i'm not sure what size of the pie they have in Core but i believe it to be quite hefty. The ceo of Core has said previously that down the track they might consider listing the company, however in the short term there is no need to go to market. These guys are serious players and imo just add to the ever expanding list of big boys who continue to sit on the sidelines waiting for the conventions and mining permits to be given to SDL.
Core have said that they may have up to 6 billion tons of resource in hematite/itabarite and a jorc figure so far of 455mt hematite grading56fe and 557mt itabarite grading 40fe. Both are low in phos but if you look are pretty high in silica. Some of the grades go as far as 69fe but would be on a small scale,it is not uncommon to see grades as high as this in Africa. They do not have 15 times as much ore as SDL, and in imo will probably have a fairly similar sized reserve at the end of the day. Remember, SDL has only scratched the surface and their indicated reserve is of world class size and quality.
I am of no doubt that Hanlong will have a massive fight on their hands to keep SDL and am hoping for one of the big boys to counter bid after SDL get the permits etc.I'm not sure if they can purchase enough of the shares to do this but lets just wait and see. If it means waiting a few extra months for a bidding war i don't care because i've waited this long and so have many others here so what the heck. Imo we don't need the Chinese to own SDL or any other large tenements, we just need them to keep buying the bloody product[apologies for stating the bleeding obvious].
Enough rambling from me, feel free to vent your spleen as constructive views are always appreciated.

Cheers,

CB