Gday Gus, I don't think anyone would argue in hindsight that to sell at 30 or even 40 cents would have been fantastic. the only reason SDL traded at 66 cents was market confusion with Sundance Energy lasted a morning... Whilst Zanaga is in the Republic of Congo it is a 50/50 jv with Xtrata, the 7+ Billion price tag is for an Itabirite play only, the rail option was too expensive so the pipeline looks to have to tick of approval, SDL didn't have that luxury in Cameroon, pretty sure it was rail or nothing. Port is completely different with a 1.6km tressel jetty as opposed to one a few hundred metres of shore. Yes its something SDL has to compete with but it is a different kettle of fish, SDl can pay for itself in a short time then fund the Itabirite plant rather quickly for a 50+ year operation..At one stage the Congo government hinted at having to move Nabeba dirt out through Pointe Noire as well but a quick desktop stufy revealed that earthworks of biblical proportion would be needed for that. A railway line in Cameroon regardless of who gets up first will be of great benefit, if its SDL first mover advantage will still apply. I hold and I can tell you I paid for every single share. Do I regret not selling at $0.45 or higher god yes but that is no fault of the deposit
SDL Price at posting:
9.9¢ Sentiment: Hold Disclosure: Held
