the problem, page-13

Hi (klob25)

Do you like being the black sheep?
Do you like being the outcast?

I need no one in any club to stand up for me.

MOU delayed yes.Not going to be a problem.
Funding going as planned by the company.
Cost cutting no.
Conserving cash while funding being put in place yes.
End of drilling for phase 1.No need for 6 drill rigs at this time.
Iron stock pile going down fast in China.

SDL still spending money.
SDL have flown 8000km aeromagnetic line survey recently.
SDL have drilled a total of 71,635mt.Drilled 63,000mt at Mbarga the rest at Mbarga South and Metzimevin.
Will fund infrastructure for Itabirite from cash flow.
Strip ratio will probably be less than the 0.3 to 1 as published earlier
The 600mt depth of iron ore open at depth at Mbarga will potentially be the same in other areas.
Proven grind and float beneficiation process.
Jetty for iron ore tankers will only be 900mt off shore,so not as far off shore as they first thought.Saving money.
Will be about US$50 million less to build port project then first thought.
Cost per tonne of iron ore to mine $20.00.

Minas-Rio project in Brazil was purchased for about US$5 billion,it will be smaller than SDL's Mbalam.

The only drilling on the tenement that has been done was by the UN - Canadian and French Survey teams.

You must be luckier then the rest of us SDL followers in being able to access inside information and not have to spend many hours on the Internet like the rest of us.

Regards as always
Westcott.