13:40 AEST May 30, 2011 ABN Newswire (C) 2004-2011 Asia Business News PL. All Rights Reserved.
Sydney, Australia (ABN Newswire) - The Australian Financial Review newspaper today reports that Sundance Resources Limited's (ASX: SDL) (PINK: SUDCF) majority shareholder Hanlong Mining is '...exploring a number of potential deals with Sundance, including a full takeover, and that it is keeping all options open as it moves through due diligence.'
As previously advised to the market on 21 March 2011 Hanlong indicated that their investment in Sundance is consistent with their strategy to be 'a significant investor in quality projects in the iron ore industry' and that Hanlong are a 'supportive shareholder assisting the company to fast-track its infrastructure and mine development plans'. Sundance continues to consider Hanlong's decision to become a major shareholder a further indication of Chinese interest and recognition in the validity of Sundance's strategy to develop the Mbalam Iron Ore Project.
Consistent with previous announcements Sundance is not currently in discussions regarding a full takeover and continues its ongoing discussions with several prospective Strategic Partners.
About Sundance Resources Limited:
Sundance Resources Limited (ASX: SDL) (PINK: SUDCF) is an international resources company developing the Mbalam Iron Ore Project in the Republic of Cameroon and the Republic of Congo, in central west Africa. Sundance Resources is listed on the Australian Securities Exchange and is part of the S&P ASX200 Index.
The Company's corporate head office is based in Perth, Western Australia, home to the world-class iron ore deposits of the Pilbara region. This location means the Company has assembled a management and technical team that draws readily on the skills of some of the world’s most experienced iron ore specialists as it continues to cement its position as an emerging force in the global iron ore sector.
Contact:
Giulio Casello Managing Director and CEO Sundance Resources Limited Tel: +61-8 9220 2300 Email: info@sundanceresources.com.au
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13:40 AEST May 30, 2011 ABN Newswire (C) 2004-2011 Asia Business News PL. All Rights Reserved.
