09:33 AEST Mar 21, 2011 ABN Newswire (C) 2004-2011 Asia Business News PL. All Rights Reserved.
Perth, Australia (ABN Newswire) -
Sundance Resources Limited (ASX: SDL) (PINK: SUDCF) has been notified that all of the shares in the Company previously owned by Ken Talbot's estate have been transferred to Hanlong Mining.
Mr George Jones, Chairman of Sundance Resources, was contacted by representatives of Hanlong once the deal was done to express their regard for Sundance as an attractive long term investment.
Mr Jones said, 'It was a friendly discussion with Hanlong and we perceive their investment positively. We consider Hanlong's decision to become a major shareholder a further indication of Chinese interest and recognition in the validity of our strategy to develop the Mbalam Iron Ore Project over the next four years.'
The shares, which represent approximately sixteen percent of the issued capital of the Company, will have a deferred settlement period.
Sundance Resources' Board would also like to acknowledge the commitment and contribution of the Talbot Group and Ken Talbot (dec) investment in Sundance as the foundation to the Company's success over the course of the past four years.
Attached (see link at the bottom of the release) is a copy of the substantial shareholding notice from Hanlong Mining received by the Company today.
For the complete Sundance Resources announcement, please view the following link:
http://www.abnnewswire.net/media/en/docs/534287.pdf
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:
Mr George Jones
Chairman
Sundance Resources Limited
Tel: +61-8-9220-2300
Email: info@sundanceresources.com.au
