SDL is advancing a significant exploration program and feasibility studies on the project based on production of 35 million tonnes per year hematite.
Sundance Resources recently announced a major resource upgrade at its West African Mbalam iron ore project.
JORC-compliant indicated resources at Mbalam have risen to 417.7 million tonnes at 61.4% iron-ore content.
This was due to the conversion of resources from inferred to indicated at the Nabeba Deposit in Congo.
The resource upgrade means SDL will be one of the stocks to watch in coming weeks.