$7m cash burn for the quarter?
Doing what?
Madness, utter madness.
Given what has occurred in both the global iron ore market and in the regional geo-political landscape with regard to infrastructure (Cameroon and Congo talking with China), the smart move would apppear be to sit on the high quality iron ore and wait until an infrastructure solution arrives and/or the price of iron ore goes up.
That being the case there is simply no need to keep spending tens of millions of shareholders funds on activity which is useless. The company doesn't even need an MD at the moment (and certainly not a big Board or a flashy office with lots of staff flying from Perth to Africa in business class to check if the iron ore is still in the ground) - just hibernate on the iron ore until it is worth something. You wouldn't happen to know a regional company that has that strategy would you?
Oh wait - is that your point Squidd?
J9
SDL Price at posting:
2.0¢ Sentiment: Sell Disclosure: Not Held
