Hi qball... Feel for you...years ago I lost $400k....it was on a...

Hi qball...
Feel for you...years ago I lost $400k....it was on a Lithium ASX listed share though and the cycle also had turned right down on that commodity like Iron Ore now BUT with that Company all the Shareholders were not given any choice about hanging onto their Shares waiting for a recovery due to the Director setting up an Overseas $2 shelf company then forcing us to accept a pittance of an offer from it buying all the Lithium (ie for millions not the $60 Billion he claimed was always worth in previous ASX releases).

Bear with my story as it is relevant to SDL....we were left here with a bare shell of minimal assets & some $$ and he got away with this with ASICs blessing as they were too lazy to act on Shareholders complaints with all receiving same exact answer back 'the Cycle was down and the Director obviously had to do what he did to protect the assets of the Company'...WHAT..?? The Director had quit Australia and HC sleuths found he had moved Overseas and was now employed by same Company in charge of their NEW Lithium assets...ASIC didn't care less and defended the Directors actions....they replied back 'that he obviously had been forced into a corner in tight market conditions when the commodity was out of favour and another smarter Company was able to take advantage of this'... all of us Shareholders saw it as legalised theft...

The cycle has slowly turned and Lithium has became HOT again....someone is making a motza! Unfortunately it wasn't us doing so with that Company after asset was stripped and forced off us...
Am now off track...many here were heavily invested and lost lots of money mainly because the Director announced many times over he would spin the Lithium assets off into a new Company & SH who owned over 250,000 shares would be given a portion of free ones in the new spinoff...we all bought up and he did create the new company BUT formulated a new plan to take the whole asset away from us for cheap $$ -ASICs lame reply to this feat: 'many Companies announce plans they intend to do in the future but market fluctuations often dictate they are unable to follow through on them' - amazing hey..?

Anyway...back on track...the point with the above scenario is we had NO choice on our assets being fleeced at the low price point of the market and someone (grrr...) realised this and saw the opportunity and acted upon it and the cycle eventually turned. We don't have as much invested in SDL but can see the tussle with the decision or choice to either support or let the Company flounder - IRON ORE is not obsolete yet and the people with BIG bikkies invested in it don't want to lose it either just because cycle is down and money is tight and think they will do anything possible to ensure it all happens....especially the Chinese Govt.

After the above experience above I am more worried about someone again fleecing a project off us when prices are low as they had a future vision which paid off for them when the cycle turned ..as history shows they always tend to recover sometime and we just have to ride with whatever sector is in vogue at the time. It may not happen overnight but it will happen...and am glad we actually have a choice whether to stump up or not to here and is everybodys own personal decision whether to or not though it does help to know who is intending to stay the course and why....the project still has merit - I will stay and fight!