'sundance closes on new partner, page-17

Squidd,

I agree that the company needs another 100MT of high grade ore and that is why they're back drilling at this point. However I don't believe an announcement that they've met this target is going to reflect much in the SP. I think they will find the extra resources and I think most observers would agree. That's part of the reason I don't think actually defining them will be enough to push sentiment strongly enough.

At this point the single biggest thing holding back SDL is a lack of funding to build the infrastructure and so far no proven ability to acquire partners. They've had a couple of false starts and slipped deadlines for announcing partners so that's what all attention is on now.

This doesn't mean they shouldn't be doing the drilling. I think they are going to struggle to get the finance without adding to the DSO resources (from what I'm seeing with progress) so it's a necessary step but it's just a means to an end.

Interestingly thy seem to have dropped any kind of time frame for the partnerships unless I've missed something. Both Don and Geoff have stated that they are confident in concluding partners but without saying when. I honestly think they're struggling. And I do have a significant holding so I'm not downramping here. And I do believe they will succeed. But this stock is going to require patience now. I'm going to stick with it and hope that at some point next year we get the news we've been waiting for.

Illiquid