Sundance Resources Takeover News | Australian Stock Report Share Tips

Sundance Resources (SDL) Takeover News

4th Oct 2011

Sundance Resources (ASX:SDL) is an Australian-based international iron ore company developing the Mbalam Project in the Republic of Cameroon in the central west coast of Africa.

The group entered into a trading halt yesterday ahead of a planned announcement on the takeover offer from Hanlong.

The announcement, which was made today, said that SDL has backed a revised $1.65 billion bid from Hanlong. The bid was sweetened from the previous $1.44 billion.

At 57 cents per share, the offer represents a 33% premium to SDL’s last closing price on 30 September.

SDL was one of the hot stocks in the weeks surrounding the original offer that was made in July.

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Australian Hot Stocks Sundance Resources (SDL)

9th Sep 2010

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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