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The market cap is $86mil, $98mil fully diluted & as at 30/6/06 they had around $4mil in cash.When SDL acquired Cam Iron in March this year, it paid $400,000 in cash & issued 295mil shares @ 2.5c ($7.4mil) plus opies.A scoping study has been completed and a prefeasability study has commenced which is expected to be complete in 10 months.The scoping study estimated an initial Inferred Resource of 570mil tonnes of Iron Ore grading above 60% Fe.The study also found a potentialy feasable project producing 35mil tonnes p.a. (70% fines & 30% lump) with production costs of US$14.50/tonne. Current prices are US$47/t for fines & US$59/t for lump.Capital costs are estimated at US$2.46bil (including mine, crushing plant, railway system, port & a contingency of US$450mil). However, the project could be eligible for funding from the World Bank, International Monetary Fund & the African Development Bank. In addition the Cameroon Government has confirmed its willingness to assist with the development & is considering a second major port which SDC could potentially use & which may reduce the capital costs.(see ann of 12/7/06 which includes scoping study)In Oct 05 SDL paid US$1.2 mil cash for the Mantos Grandes copper/gold project in Chile.(see ann of 7/10/05)Other project of SDL is the Chacarilla Copper Project in Bolivia. They commenced exploration there with a 50% interest in 1997 & in April this year paid US$1mil for the remaining 50%. The project is currently on care & maintenance & the resource is not currently JORC certified & will require further drilling. (see ann of 20/4/06)I don't hold but have added it to my watchlist.
The market cap is $86mil, $98mil fully diluted & as at 30/6/06 they had around $4mil in cash.
When SDL acquired Cam Iron in March this year, it paid $400,000 in cash & issued 295mil shares @ 2.5c ($7.4mil) plus opies.
A scoping study has been completed and a prefeasability study has commenced which is expected to be complete in 10 months.
The scoping study estimated an initial Inferred Resource of 570mil tonnes of Iron Ore grading above 60% Fe.
The study also found a potentialy feasable project producing 35mil tonnes p.a. (70% fines & 30% lump) with production costs of US$14.50/tonne. Current prices are US$47/t for fines & US$59/t for lump.
Capital costs are estimated at US$2.46bil (including mine, crushing plant, railway system, port & a contingency of US$450mil). However, the project could be eligible for funding from the World Bank, International Monetary Fund & the African Development Bank. In addition the Cameroon Government has confirmed its willingness to assist with the development & is considering a second major port which SDC could potentially use & which may reduce the capital costs.
(see ann of 12/7/06 which includes scoping study)
In Oct 05 SDL paid US$1.2 mil cash for the Mantos Grandes copper/gold project in Chile.
(see ann of 7/10/05)
Other project of SDL is the Chacarilla Copper Project in Bolivia. They commenced exploration there with a 50% interest in 1997 & in April this year paid US$1mil for the remaining 50%. The project is currently on care & maintenance & the resource is not currently JORC certified & will require further drilling. (see ann of 20/4/06)
I don't hold but have added it to my watchlist.
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