will brutal reality kick in on apr 8

SDL holders have been shielded from the carnage that is occurring to the pure iron ore players like AGO, GBG and MGX. Thanks to Hanlong's takeover.

If SDL terminates and no one else comes forward Apr 8 could be very nasty indeed.

When this takeover started SDL was in the low 30s. AGO was about $3.60 (now $1.08), GBG was about 60c (now 18c) and MGX was about $1.40 (now 51c). If SDL's share price plays catch up it could be 10c or lower.

SDL management have a difficult decision. Try and protect the share price by giving Hanlong an extension or let the market decide SDL's worth.