Sundance Resources (SDL) is an Australian-based iron ore miner, whose main interest is in the Mbalam Project in Cameroon.
SDL was one of the more widely known Australian stocks in recent months after a number of its executives were killed in a plane crash in Cameroon in late June.
More recently, however, SDL entered into a memorandum of understanding (MOU) with China Rail.
The MOU commits the parties to develop the railway track, and rolling stock, required to support the planned iron ore output of 35 mtpa from SDL’s Mbalam Project in Cameroon.
The MOU is, however, subject to government approvals, funding and title requirements for the rail corridor in addition to other assets.
SDL was one of the hot stocks following the MOU announcement, with its share price rocketing almost 20%.
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