G.Casello has been heard on numerous interviews that they are targeting to secure or announce strategic partner by end of June.
SDL have recently updated market:
"Sundance has shortlisted the preferred potential partners and has entered into commercial negotiations. Sundance is very pleased with the progress that has been achieved in recent months and looks forward to successfully concluding arrangements for the introduction of a strategic partner to the Project. The Company will advise the Market as soon as something sufficiently binding or capable of announcement is available. Sundance continues to work towards the target of having Conventions in place and Final Investment Decision taken in time to start early works on the construction of the rail and port infrastructure before the end of 2011."
Yes there has been a delay in the time line since the Feb Indaba Presentaion but I am prepared with many other long term holders to back G JONES and G CASELLO in this large scale complex project. This is my risk and my opinion.
I recently spoke with a lawyer from Chevron Texaco who deals specifically deals with jv negotiations and he stated the obvious when he said that it is complex and lengthy.
Cheers All
DPH
SDL Price at posting:
33.5¢ Sentiment: None Disclosure: Held