Hey Chazza414, From their recent quarterly, SDL states as...

Hey Chazza414,

From their recent quarterly, SDL states as follows -

"Application for EP92 Extension

The application for a further 2 year extension of exploration permit EP92 was submitted on 28 June 2010. The extension period is from 29 September 2010 to 28 September 2012.
This application included the relinquishment of a small non-prospective area of the current EP92 shape so that the reduced shape matches the Mining Permit Application. Corrections were sought to the approval documentation issued by the Cameroonian Minister of Mines in regards to the exact coordinates of the boundary points of EP92 as the granted approval does not correspond to the original boundary coordinates submitted in the original renewal document. Rectification letters have been written and were submitted to the Minister of Mine in Cameroon on 20 July 2010. The Company is currently awaiting a formal review and response from the Mines Department of Cameroon."

This is not an insignificant de-risk to the project which is being negotiated here.

But it is very reassuring that should the EP be renewed, (and there is no reason to think it wont) then one would imagine that the Mining Lease acreage would be a considerbale size given the comment "relinquishment of a SMALL non-prospective area of the current EP92 shape so that the reduced shape matches the Mining Permit Application."

Therefore any further deposits found within EP92 could be mined without further reference to the Department of Mines if a ML is issued. A big plus in my estimation.

This is an accumulation phase we are in. Make no mistake.

Unfortunately for many, any BUY of SDL now will be averaging UP. Me included.