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Something's Cooking hit 38.5c on strong volume.
SDL - Sundance Resources
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Maybe just maybe they are about to sign a JV deal with chinese -sinosteel?
Remember they just pulled out of murchison deal as it all got too hard, carbon tax, cost blow outs, approval delays etc etc.
Maybe??
Hopefully they are jving someone soon
Things are shaping up for another pretty good week SP wise for sundance.
Seems to be far more buyers stacked up then sellers.
Possibly see 45c + this week?
Should be getting closer to a trading halt and then JV announcement in the next week or two.
If not the recent gains from 30c low to 40c on friday would probably wash away.
Momentum seems to be holding up. 
Seems to be far more buyers stacked up then sellers.
Possibly see 45c + this week?
Should be getting closer to a trading halt and then JV announcement in the next week or two.
If not the recent gains from 30c low to 40c on friday would probably wash away.
Momentum seems to be holding up.
Things are shaping up for another pretty good week SP wise for sundance.
Seems to be far more buyers stacked up then sellers.
Possibly see 45c + this week?
Should be getting closer to a trading halt and then JV announcement in the next week or two.
If not the recent gains from 30c low to 40c on friday would probably wash away.
Momentum seems to be holding up.
Cameroon president is going to visit Chine this week, hopefully some deals will be sealed associated with sdl project.
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Anticipation is certainly building and one gets the feeling from the strong buying and reduced selling that a JV announcement is certainly in the wings.
Sentiment is also very positive and strong in regards this stock and I'm glad I bought another big parcel when the SP was down due to negative sentiment about the lack of announcement!
This has always been a LT stock imo and I have never doubted it's future in terms of LT reward. A great stock in the old super fund!
Sentiment is also very positive and strong in regards this stock and I'm glad I bought another big parcel when the SP was down due to negative sentiment about the lack of announcement!
This has always been a LT stock imo and I have never doubted it's future in terms of LT reward. A great stock in the old super fund!
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Hold the phone batman, Hanlong have made a 100% bid for SDL at a very opportunistic price of only 50 cents a share. Thankfully management will reject this and seek a far greater price more reflecting true value.
As Bill Laurie would say, 'it's all happenning'!
As Bill Laurie would say, 'it's all happenning'!
Johnny Utah
Johnny Utah
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SYDNEY, July 18 AAP - Sundance Resources Ltd has received a
takeover offer, valuing the Africa-focused iron ore miner at $1.44
billion.
Hanlong Mining Investment, which already has an 18.6 per cent
stake in Sundance, has offered 50 cents per share cash for the
miner.
Sundance shares last traded at 40 cents a share, making the
takeover offer a 25 per cent premium.
The shares will start trading at 1100 AEST.
Sundance's board was advising shareholders to take no action at
this stage, the Perth-based miner said in a statement on Monday.
"The terms of the offer do not provide adequate value of
certainty to Sundance shareholders," the company said.
The board would discuss the terms of the proposal with Hanlong.
Sundance would continue its negotiations with potential
strategic partners for a joint venture to develop its Mbalam iron
ore project in the Republics of Cameroon and Congo.
takeover offer, valuing the Africa-focused iron ore miner at $1.44
billion.
Hanlong Mining Investment, which already has an 18.6 per cent
stake in Sundance, has offered 50 cents per share cash for the
miner.
Sundance shares last traded at 40 cents a share, making the
takeover offer a 25 per cent premium.
The shares will start trading at 1100 AEST.
Sundance's board was advising shareholders to take no action at
this stage, the Perth-based miner said in a statement on Monday.
"The terms of the offer do not provide adequate value of
certainty to Sundance shareholders," the company said.
The board would discuss the terms of the proposal with Hanlong.
Sundance would continue its negotiations with potential
strategic partners for a joint venture to develop its Mbalam iron
ore project in the Republics of Cameroon and Congo.
Trading of SDL is delayed until 11 am because of this low ball shocking offer.
good luck
so I'm guessing you all class this share as severely undervalued if you are unhappy with making 25% overnight?
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Sundance Resources
Where's Sinosteel???? As if.
It's the same company China inc.
Sometimes China inc makes low ball offers to keep the price up so they put off genuine alternatives, take board positions and then make deals to suit themselves. They also figure no one else will come along with the price up and costs to come, they can increase their holding keep the price up, suck in the share holders with capital raising, having inflated the price so then China inc doesn't have to do the real funding and their happy and off they go with the goodies from the ground to make money out of what they make it into.
Sundance needs plenty of help to get this happening and the Chinese seem to be the only willing partners at this point. Board is right to fight the pricks off but that can be hard when they need them as partners.
Is that reason not to be happy?
Where's Sinosteel???? As if.
It's the same company China inc.
Sometimes China inc makes low ball offers to keep the price up so they put off genuine alternatives, take board positions and then make deals to suit themselves. They also figure no one else will come along with the price up and costs to come, they can increase their holding keep the price up, suck in the share holders with capital raising, having inflated the price so then China inc doesn't have to do the real funding and their happy and off they go with the goodies from the ground to make money out of what they make it into.
Sundance needs plenty of help to get this happening and the Chinese seem to be the only willing partners at this point. Board is right to fight the pricks off but that can be hard when they need them as partners.
Is that reason not to be happy?
why has sundance responded by saying that they'll 'look into the terms of the bid', despite earlier saying they are not even interested in take overs.
Is it just because they want to double check the take-over's legitimacy, or is this because they're running out of options and they're now considering a take over?
Is it just because they want to double check the take-over's legitimacy, or is this because they're running out of options and they're now considering a take over?
Media coverage starting to hot up.
Just wondering how much would you be prepared to accept as an offer. Right now , at this point in the game anything less than a dollar must be considered a joke surely.
Would be interested in what the forum considers a "sell price"?
.http://www.reuters.com/article/2011/07/18/sundance-idUSL3E7II00I20110718
UPDATE 1-Sundance gets $1.5 billion bid proposal from Hanlong
Sun Jul 17, 2011 9:18pm EDT
* Hanlong wants all of African iron ore developer Sundance
* Says will pay $1.5 billion, or A$0.50 a share
* Sundance says take no action
* Sundance questions adequacy of bid (Adds details)
SYDNEY, July 18 (Reuters) - Sichuan Hanlong Group of China on Monday bid A$0.50 a share for West African iron ore exploration company Sundance Resources , valuing the company at A$1.4 billion ($1.5 billion), in the latest move by the private conglomerate to broaden its reach in global resources.
It's also the second takeover offer in a week lodged by Hanlong for an Australia-listed company exploring for minerals in Africa after it bid A$144 million on June 11 for Bannerman Resources , which is looking for uranium in Namibia.
Hanlong is already Sundance's majority shareholder with 18.6 percent of the firm.
Sundance's board is recommending its shareholders take no action until it meets with Hanlong over the terms of the bid, which Sundance deems inadequate, according to a company statement.
The A$0.50 a share offer represents a 25 percent premium to Sundance closing price of A$0.40 on Friday.
The shares jumped 27.5 percent after resuming trade at 0200 GMT.
Sundance has made no secret it's seeking Chinese investors to help fund its $4.7 billion Mbalam iron ore project straddling the republics of Cameroon and Congo.
Sundance Managing Director Giulio Casello in March told Reuters in an interview Sundance was in talks with Chinese steel mills as candidates to invest in the project.
Beijing has been pushing its steel makers to consolidate domestic steelmaking and reduce reliance on sector behemoths Vale , Rio Tinto and BHP Billiton , which together control about 70 percent of seaborne-traded ore.
China has plenty of its own iron ore. But much of it is low grade, meaning it is cheaper to import ore that has higher iron content from countries such as Australia, Brazil and Africa.
Sundance says its ore it suitable for direct shipping to steel mills and that fully developed the Mbalam project could yield 35 million tonnes of iron ore a year.
That's nearly equal to the annual iron ore production of AngloAmerican in Africa, much of it through its majority stake in Kumba Iron Ore .
Hanlong is also the majority shareholder in Moly Mines , which is developing a molybdenum and copper mine in Australia and Marenica Energy , which is looking for uranium, also in Australia
In November 2010, Hanlong signed a cooperation agreement with the Export-Import Bank of China for loans of up to $1.5 billion to fund its overseas expansion plans.
Outside of mining, Hanlong has interests in energy, real estate, pharmaceuticals, industrial chemicals and technology.
Just wondering how much would you be prepared to accept as an offer. Right now , at this point in the game anything less than a dollar must be considered a joke surely.
Would be interested in what the forum considers a "sell price"?
.http://www.reuters.com/article/2011/07/18/sundance-idUSL3E7II00I20110718
UPDATE 1-Sundance gets $1.5 billion bid proposal from Hanlong
Sun Jul 17, 2011 9:18pm EDT
* Hanlong wants all of African iron ore developer Sundance
* Says will pay $1.5 billion, or A$0.50 a share
* Sundance says take no action
* Sundance questions adequacy of bid (Adds details)
SYDNEY, July 18 (Reuters) - Sichuan Hanlong Group of China on Monday bid A$0.50 a share for West African iron ore exploration company Sundance Resources , valuing the company at A$1.4 billion ($1.5 billion), in the latest move by the private conglomerate to broaden its reach in global resources.
It's also the second takeover offer in a week lodged by Hanlong for an Australia-listed company exploring for minerals in Africa after it bid A$144 million on June 11 for Bannerman Resources , which is looking for uranium in Namibia.
Hanlong is already Sundance's majority shareholder with 18.6 percent of the firm.
Sundance's board is recommending its shareholders take no action until it meets with Hanlong over the terms of the bid, which Sundance deems inadequate, according to a company statement.
The A$0.50 a share offer represents a 25 percent premium to Sundance closing price of A$0.40 on Friday.
The shares jumped 27.5 percent after resuming trade at 0200 GMT.
Sundance has made no secret it's seeking Chinese investors to help fund its $4.7 billion Mbalam iron ore project straddling the republics of Cameroon and Congo.
Sundance Managing Director Giulio Casello in March told Reuters in an interview Sundance was in talks with Chinese steel mills as candidates to invest in the project.
Beijing has been pushing its steel makers to consolidate domestic steelmaking and reduce reliance on sector behemoths Vale , Rio Tinto and BHP Billiton , which together control about 70 percent of seaborne-traded ore.
China has plenty of its own iron ore. But much of it is low grade, meaning it is cheaper to import ore that has higher iron content from countries such as Australia, Brazil and Africa.
Sundance says its ore it suitable for direct shipping to steel mills and that fully developed the Mbalam project could yield 35 million tonnes of iron ore a year.
That's nearly equal to the annual iron ore production of AngloAmerican in Africa, much of it through its majority stake in Kumba Iron Ore .
Hanlong is also the majority shareholder in Moly Mines , which is developing a molybdenum and copper mine in Australia and Marenica Energy , which is looking for uranium, also in Australia
In November 2010, Hanlong signed a cooperation agreement with the Export-Import Bank of China for loans of up to $1.5 billion to fund its overseas expansion plans.
Outside of mining, Hanlong has interests in energy, real estate, pharmaceuticals, industrial chemicals and technology.
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Expect to see many confused messages coming out.
Their good at offering underhanded payouts to board members too, one way or another. If the member ever do something they don't like well - Remember a guy called Stern Hu???
How did they manage to take all Rios computers as part of their investigation!!
HHmmmm corporate espionage right out in the open. Wheres Rupert? News was quiet on all that given what it was.
We should have been protesting in the streets.
Wonder whats on the table for Stern today?
They pay they own you.
Their good at offering underhanded payouts to board members too, one way or another. If the member ever do something they don't like well - Remember a guy called Stern Hu???
How did they manage to take all Rios computers as part of their investigation!!
HHmmmm corporate espionage right out in the open. Wheres Rupert? News was quiet on all that given what it was.
We should have been protesting in the streets.
Wonder whats on the table for Stern today?
They pay they own you.
In retrospect the procurement of the Talbot Groups holdings by Hanlong was a master stroke. Call me cynical, but if you hold 18% of the company, you pretty much control what the bid price is likely to be accepted. Posco will be out of the picture now, I expect the Talbot Groups holdings were picked up to block a similar bid from Posco.
We have plenty of cash in the bank at the moment, to allow the corporate shananigans to play out, however the one thing that has been really bothering me since the DFS:
Didn't the Cameroon Government have an option to buy a further 10% of Sundance triggered by the submission of the DFS? Now I seem to remember at the time calculating their buy in at about 80 million AUD$. Unless I've missed something (and if I have please enlighten me) They are yet to exercise this option. WHY?????
Sundance have since done a placement to raise a similar sum, was the placement a "White Knight" rather than raising working capitol?
I cant see Rio, Vale or BHP wanting to make a counter bid, when Hanlong already own 18% of the Company, I am sure that they would simply hold out until an acceptable "Chinese" bid was made.
So whilst I don't think that we have seen the end of the fun and games yet, the only way that I can see shareholders realizing an acceptable return is to reject this offer totally, and hopefully get the management focused on arranging a JV partner.
But it does beg the question:
" Why would you pay $3 Billion plus for 50% of a project, when you can take over the whole company for less than $2 Billion?"
Ciao, J.
We have plenty of cash in the bank at the moment, to allow the corporate shananigans to play out, however the one thing that has been really bothering me since the DFS:
Didn't the Cameroon Government have an option to buy a further 10% of Sundance triggered by the submission of the DFS? Now I seem to remember at the time calculating their buy in at about 80 million AUD$. Unless I've missed something (and if I have please enlighten me) They are yet to exercise this option. WHY?????
Sundance have since done a placement to raise a similar sum, was the placement a "White Knight" rather than raising working capitol?
I cant see Rio, Vale or BHP wanting to make a counter bid, when Hanlong already own 18% of the Company, I am sure that they would simply hold out until an acceptable "Chinese" bid was made.
So whilst I don't think that we have seen the end of the fun and games yet, the only way that I can see shareholders realizing an acceptable return is to reject this offer totally, and hopefully get the management focused on arranging a JV partner.
But it does beg the question:
" Why would you pay $3 Billion plus for 50% of a project, when you can take over the whole company for less than $2 Billion?"
Ciao, J.
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