SDL - Sundance Resources

munga · 2 November 2009

fureien said:
i may be mistaken, but i thought one of the main reasons why BHP and RIO started a JV was because they were like geographically neighbours.

Does SDL have anything close to BHP?

not bhp but rio are there in aly

[Cameroon and Rio Tinto sign production accords
(AFP) – Jul 30, 2009

YAOUNDE ”” Cameroon and a subsidiary of Anglo-Australian mining firm Rio Tinto have signed an agreement to build an aluminium plant and a hydroelectric dam, the state daily Cameroon Tribune reported Thursday.

The agreement signed by Prime Minister Philemon Yang and Jean-Philippe Puig of Rio Tinto Alcan (RTA) also provides for a deep water port and is initially worth 3.8 million euros ((5.3 million dollars), the paper said.

The aluminium plant with a production of 400,000 tonnes per year will be built at Kribi, like the port, while the hydroelectric dam, with a planned capacity of 930 megawatts, will be at Song Mbengue, also in the south.

Work on building the factory will begin at the end of 2011 and will create 30,000 jobs, while aluminium production should begin in 2016.

Puig said that the project will be "one of the most important in sub-Saharan Africa in years to come and will enable Cameroon to become one of the major aluminium producing countries," according to the paper.

Rio Tinto Alcan is already the majority shareholder in the aluminium company Alucam, which produces about 90,000 tonnes per year at Edea in south Cameroon

LRG · 2 November 2009

SDL have released some more positive - but nothing new statements to the ASX etc this afternoon.

See the price went up 1.0 c to 16.5 cents on a down day across the market.

Vol 16 Mill - may be more activity tomorrow.

They say 2010 is when things will start to look up!

I hold, I wait and wait, I hope, I have patience.

Coff&Dream · 3 November 2009

Another ann today, then a trading halt. Looks like another capital raising, got to pay for that drill somehow.

don't have the 5 posts yet to post links

bleach8 · 4 November 2009

Coff&Dream said:
Another ann today, then a trading halt. Looks like another capital raising, got to pay for that drill somehow.

don't have the 5 posts yet to post links

not really a good news for me !! i didnt expect this to happen ... i recently purchased a fair bit of SDL..now i will not have money to participate now!!!

Johnny Utah · 4 November 2009

I have attached are the pdf's for the Trading Halt and Drilling Expansion Program.
********interesting**********

Zodiac · 4 November 2009

Very concerning. I would have thought that the Cameroon Government with their intimate knowledge of the project would jump in now and take their additional stake at whatever ( 50% costs to date ), $50m plus injection. Instead the company is going down the path of another dilution, at the expense of both the long term holders and the Cameroon Government. The fat cats eat again. I mentioned prior my concerns the company had decided to further explore with little cash. They could have spent the dollars to proceed with the project with 6 years DSO proven instead they are going for a 10 year DSO. Whats stopping them doing this again next year and going for a 15 year DSO. Again why is the Cameroon Government not involved? Welcome anyone's thoughts.

Zodiac

bleach8 · 4 November 2009

Zodiac said:
Very concerning. I would have thought that the Cameroon Government with their intimate knowledge of the project would jump in now and take their additional stake at whatever ( 50% costs to date ), $50m plus injection. Instead the company is going down the path of another dilution, at the expense of both the long term holders and the Cameroon Government. The fat cats eat again. I mentioned prior my concerns the company had decided to further explore with little cash. They could have spent the dollars to proceed with the project with 6 years DSO proven instead they are going for a 10 year DSO. Whats stopping them doing this again next year and going for a 15 year DSO. Again why is the Cameroon Government not involved? Welcome anyone's thoughts.

Zodiac

Well, it makes sense for the government not to jump in now as they have not officially granted SDL with the mining permit.

it is understandable that they want to further explore to be in a better position to negotiate with the potential partners. This way, they can basically get the same funding but with more favourable terms. If I am the big shareholder with the extra $$, I will go this way as well.

Btw, if they invite you to buy another 10k for 13c, will you consider to take that offer? Maybe I will not, but if its 10c, I will have to come up with that money to take the offer.

Really annoying!

bleach8 · 4 November 2009

Zodiac said:
Very concerning. I would have thought that the Cameroon Government with their intimate knowledge of the project would jump in now and take their additional stake at whatever ( 50% costs to date ), $50m plus injection. Instead the company is going down the path of another dilution, at the expense of both the long term holders and the Cameroon Government. The fat cats eat again. I mentioned prior my concerns the company had decided to further explore with little cash. They could have spent the dollars to proceed with the project with 6 years DSO proven instead they are going for a 10 year DSO. Whats stopping them doing this again next year and going for a 15 year DSO. Again why is the Cameroon Government not involved? Welcome anyone's thoughts.

Zodiac

The West Australian ©
Sundance Resources was last night in talks with overseas investors to secure enough cash to take its Cameroon iron ore project to project financing by the end of next year.

It is understood Sundance is using the London office of investment bank Renaissance Capital to carry out the raising and in the process introduce new overseas investors to the Perth company's share register.

Sundance would not comment, but it is thought the company wants to raise substantially more than its existing cash reserves of about $16.6 million to complete a bankable feasibility study for the Mbalam project and secure the necessary approvals from the Cameroon Government, as well as fund more drilling at the asset and nearby deposits across the border in the Republic of Congo.

Mbalam is being touted as one of the biggest iron ore deposits in the world not controlled by the majors. It has a 2.2 billion tonne resource, including 215 million tonnes of high-grade ore, and will cost $US3.3 billion ($3.7 billion) to develop.

Sundance has asked Deutsche Bank to find a development partner and is confident it can strike a deal before a self-imposed end-of-2010 project financing deadline.

Sundance's shares were yesterday placed in a trading halt at 15 ¢

fureien · 5 November 2009

so is that saying theyre going to get institutional investors and not us current shareholders or a mix of both.

i srsly hope the raising price is incredibly low like 10c again. 13c would be understandable. the average of my main parcel is 10c. so if they wanna raise again at that price im liquidating everything. no point watching my profits drop for no reason.

if its 13 cents at least thats an easily recoverable amount. but 10 - 15c is too much of a difference.

I also bought an extra bunch of share for short term play average above 15c so this is not good news.

Bit disappointed with SDL.

Then again i can just neglect sdl and see you guys in this thread again in another year or 2, then maybe things will be better. lol

Miner · 6 November 2009

fureien said:
so is that saying theyre going to get institutional investors and not us current shareholders or a mix of both.

i srsly hope the raising price is incredibly low like 10c again. 13c would be understandable. the average of my main parcel is 10c. so if they wanna raise again at that price im liquidating everything. no point watching my profits drop for no reason.

if its 13 cents at least thats an easily recoverable amount. but 10 - 15c is too much of a difference.

I also bought an extra bunch of share for short term play average above 15c so this is not good news.

Bit disappointed with SDL.

Then again i can just neglect sdl and see you guys in this thread again in another year or 2, then maybe things will be better. lol

Dear Furien

Please hold your breath.

If the current market trend shown by PRU, SGZ are any direction, then the share will probaly go to the privileged sophisticated investors nominated by the sophisticated broker . Normal shareholders will keep on buying lotto tickets to win

munga · 6 November 2009

Miner said:
Dear Furien

Please hold your breath.

If the current market trend shown by PRU, SGZ are any direction, then the share will probaly go to the privileged sophisticated investors nominated by the sophisticated broker . Normal shareholders will keep on buying lotto tickets to win

totallyagree with this. we will not see any or asked to participate.
i think they are trying to get new investors thru europe.

then again do you want to see anymore.....

CarbonSteel · 6 November 2009

Is there a chance that something good might come out of this? I have noticed that the SP of some other companies has improved somewhat when financing has been obtained.

In the case of SDL, will it not show that it now has credibility among international players and ultimately create more demand for shares? (notwithstanding that more shares will be issued)

It could be more good news to go with the appointment of Geoff Wedlock and Deutsche Bank.

Anyone see it in this light?

Johnny Utah · 6 November 2009

Hmmm now its suspension from official quotation....

wonder for how long!!!!

I have attached the latest update.

Johnny Utah · 9 November 2009

SUNDANCE COMPLETES PLACEMENT AGREEMENT TO RAISE A$85M FROM INTERNATIONAL INSTITUTIONAL INVESTORS
International iron ore company Sundance Resources Limited (ASX: SDL – "Sundance") announced today that it has completed a Placement Agreement to raise A$85m from international institutional investors.
Subject to shareholder approval being obtained and other general conditions of the Placement Agreement, a total of 566,666,667 shares will be issued at A$0.15 per share. The raising will be completed in two tranches. The first tranche of 316,806,421 shares is to be issued within the Company’s 15% placement capacity. The second tranche of 249,860,246 shares will be issued subject to shareholder approval being obtained at an Extraordinary General Meeting of shareholders to be held on 9 December 2009.
Commenting on the fund raising, Don Lewis, Managing Director of Sundance, said “we are extremely pleased with the strong interest received from institutional investors for the raising. We have deliberately targeted a new investor base to broaden the reach and exposure of the Company to the international market ahead of our proposed project financing activities in 2010. The raising will allow us to aggressively accelerate our development program at Mbalam, establishing Sundance as the first mover in this emerging iron ore province. This is a very significant step in terms of realising the full potential of the Mbalam Iron Ore Project.”
The proceeds of the raising will be used to:
● complete Definitive Feasibility Study of the Mbalam Project, including mine, process, transport and port infrastructure;
● undertake drilling to define further High Grade mineralisation on the Company’s portfolio of exploration landholdings; and
● provide general working capital.
Accordingly, further to Sundance’s request for a voluntary suspension pending completion of the raising, Sundance requests that ASX reinstate its ordinary shares (ASX:SDL) pursuant to ASX Listing Rule 17.7 with immediate effect.

**** SDL back trading this morning*****

zmalecki · 9 November 2009

so, it seems that current market price @0.16 is quite correct, and taking to account that somebody was willing to put 85M I'll hold my shales long.

fureien · 9 November 2009

well a SPP was just announced. So it will be at 15c im guessing. i got out 10 mins before the announcement because i made a typo in my stops lol

then tried to get back in. then they put it in preopen and made the announcement. My buy order got processed, obviously because the market realised the SPP would bring it down to 15c.

lame

CarbonSteel · 9 November 2009

So it doesn't look to bad for us SH's. Institutional investors raising our pofile, an opportunity for us to participate at the same price (or possibly better) than the institutions. We have an excellent chairman and Deutsche Bank is onboard.
And this from Don...

"This is a very significant step in terms of realising the full potential of the Mbalam Iron Ore Project"

It's starting to take shape. :venus:

I'm a holder and glad about it.

so, it seems that current market price @0.16 is quite correct, and taking to account that somebody was willing to put 85M I'll hold my shales long.
-zmalecki

Here, Here!

munga · 9 November 2009

CarbonSteel said:
So it doesn't look to bad for us SH's. Institutional investors raising our pofile, an opportunity for us to participate at the same price (or possibly better) than the institutions. We have an excellent chairman and Deutsche Bank is onboard.
And this from Don...
!

the part that interests me is 15c or better
maybe pull some out @ 16c and buy back in
@ 15c or better

bleach8 · 9 November 2009

If the spp is at 15c not sure whether I want to participate, as the market price is not much different from the spp price.

For the last 3 weeks, a number of positive news has been announced by SDL,
Appointment of D bank
Encouraging annual meeting
Further explore program
Additional drill
Institutional capital raising

However, do you notice the sp has not moved much, and the volumes have been below average?
With all the above, generally we should see some better movement either in terms of sp or trading volumes.
What do you guys think about this?

munga · 9 November 2009

bleach8 said:
If the spp is at 15c not sure whether I want to participate, as the market price is not much different from the spp price.

For the last 3 weeks, a number of positive news has been announced by SDL,
Appointment of D bank
Encouraging annual meeting
Further explore program
Additional drill
Institutional capital raising

However, do you notice the sp has not moved much, and the volumes have been below average?
With all the above, generally we should see some better movement either in terms of sp or trading volumes.
What do you guys think about this?

agree with what your saying but somewhere out there
some people just tipped 85m into the coffers.

i believe the news flow will increase as drilling etc resumes
as long as china continues to grow the sp should increase

SDL - Sundance Resources

munga

LRG

Coff&Dream

bleach8

Johnny Utah

Johnny Utah

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Zodiac

bleach8

bleach8

fureien

Miner

munga

CarbonSteel

Johnny Utah

Johnny Utah

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Johnny Utah

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zmalecki

fureien

CarbonSteel

munga

bleach8

munga

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