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I'm not a chartist, but $0.34 looks like a better support / resistance level.
SDL - Sundance Resources
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hello all SDL people there is a release today which means nothing on paper but is also very promising,
This is a great thing, and whilst always in the pipeline at least they are letting us know what is happening behind the scenes to some extent. now for the infrastructure signing ? ... . . . . . . .. ..
This is a great thing, and whilst always in the pipeline at least they are letting us know what is happening behind the scenes to some extent. now for the infrastructure signing ? ... . . . . . . .. ..
You have to be kidding! What planet have you been on. "The board is letting us know what is happening behind the scenes"??? The board has a very poor history of transparency boarding on misinformation. Every prospectus is different. And yes we are going to let another minor use our rail that does not exist for a deposit that they have not yet proven. This agreement is positive but not great in my opinion. The board is waiting and needs to be seen to be doing somthing, thus this announcement. In the Pilbara minors go to court in desperation to get a deal like this.
Zodiac
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Zodiac
It is quite possible that the board is up there with Kim Jong Il as far as releasing useful information is concerned, but I'll let the chart do the talking for now, not much else to draw conclusions from -
watching and waiting; commiserating.
(I do not hold)
It is quite possible that the board is up there with Kim Jong Il as far as releasing useful information is concerned, but I'll let the chart do the talking for now, not much else to draw conclusions from -
watching and waiting; commiserating.
(I do not hold)
From chart, obvious level of support at current SP (35c) and if that doesn't hold then 30c. Definitely needs some CONCRETE news to lift it from here IEO (in everybodies opinion haha 
)
I am tempted though to have a dabble between 30 and 35 given the clear upside IF AND WHEN some definitive news comes through
)I am tempted though to have a dabble between 30 and 35 given the clear upside IF AND WHEN some definitive news comes through
I just found this on the Bloomberg web site. Sounds to me like theyve got nothing and are trying to convince everyone theyve got something, also another rehashed news release on ASX. Looks like their trying to scare some organisation into action meybee.
Sundance Seeking China Partner for $4.7 Billion African Iron Ore ProjectBy Elisabeth Behrmann - May 13, 2011 11:22 AM GMT+1000
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Business ExchangeBuzz up!DiggPrint Email . Sundance Resources CEO Giulio Casello speaking in an interview in Sydney. Photographer: Ian Waldie/Bloomberg
Sundance Resources CEO Giulio Casello. Photographer: Ian Waldie/Bloomberg
Sundance Resources Ltd., seeking to develop a $4.7 billion iron ore mine, port and rail road in West Africa, may sell as much as half of the project to a Chinese partner to help fund construction.
“We are targeting to have a strategic partner selected by the end of June, so we can then move towards a final investment decision towards the end of September,” Giulio Casello, chief executive officer of Perth-based Sundance, said in an interview. “We are getting very strongly focused towards China.”
Chinese companies are scouring the globe for investments in steelmaking raw-material assets to feed surging demand in the world’s fastest growing major economy. A number of groups have visited the Mbalam project that straddles the border of Cameroon and Republic of Congo and another potential partner is scheduled to visit “shortly,” said Casello.
A partner would “buy into the project level” and be able to sign up for sales accords, while Sundance will retain no less than 50 percent of Mbalam, he said in Sydney. The company’s biggest shareholder is Sichuan Hanlong Group, which owns 17.94 percent.
Sundance rose 4.4 percent to 36 cents at 11:15 a.m. in Sydney trading, compared with a 0.4 percent drop in the S&P/ASX 200 Resources Index.
Rio Tinto Group and Vale SA’s are among companies making acquisitions in Africa. London-based Rio has acquired control of Riversdale Mining Ltd., which owns coking coal projects in Mozambique.
Building Start
Sundance completed a study of Mbalam last month and plans to start construction at the end of the year. It aims to start shipping iron ore by 2014 and produce 35 million metric tons a year. This includes building a 510 kilometer (320 miles) heavy- haulage railroad through Cameroon and a deep water port for bulk iron ore carriers, Sundance said April 6.
“We’ve had our technical teams in China pretty well full- time for over three weeks now going through and explaining to the potential partners how we made up” the study costs, said Casello. The company last year signed an initial accord with China Harbour Engineering Co. and China Rail Construction Co. to study building the port and rail.
Sundance may use China Development Bank Corp. and Export- Import Bank of China to help arrange financing, given the existing relationships Sichuan Hanlong, Casello said.
To contact the reporter on this story: Elisabeth Behrmann in Sydney at ebehrmann1@bloomberg.net
To contact the editor responsible for this story: Andrew Hobbs at ahobbs4@bloomberg.net
.
Sundance Seeking China Partner for $4.7 Billion African Iron Ore ProjectBy Elisabeth Behrmann - May 13, 2011 11:22 AM GMT+1000
inShare.0More
Business ExchangeBuzz up!DiggPrint Email . Sundance Resources CEO Giulio Casello speaking in an interview in Sydney. Photographer: Ian Waldie/Bloomberg
Sundance Resources CEO Giulio Casello. Photographer: Ian Waldie/Bloomberg
Sundance Resources Ltd., seeking to develop a $4.7 billion iron ore mine, port and rail road in West Africa, may sell as much as half of the project to a Chinese partner to help fund construction.
“We are targeting to have a strategic partner selected by the end of June, so we can then move towards a final investment decision towards the end of September,” Giulio Casello, chief executive officer of Perth-based Sundance, said in an interview. “We are getting very strongly focused towards China.”
Chinese companies are scouring the globe for investments in steelmaking raw-material assets to feed surging demand in the world’s fastest growing major economy. A number of groups have visited the Mbalam project that straddles the border of Cameroon and Republic of Congo and another potential partner is scheduled to visit “shortly,” said Casello.
A partner would “buy into the project level” and be able to sign up for sales accords, while Sundance will retain no less than 50 percent of Mbalam, he said in Sydney. The company’s biggest shareholder is Sichuan Hanlong Group, which owns 17.94 percent.
Sundance rose 4.4 percent to 36 cents at 11:15 a.m. in Sydney trading, compared with a 0.4 percent drop in the S&P/ASX 200 Resources Index.
Rio Tinto Group and Vale SA’s are among companies making acquisitions in Africa. London-based Rio has acquired control of Riversdale Mining Ltd., which owns coking coal projects in Mozambique.
Building Start
Sundance completed a study of Mbalam last month and plans to start construction at the end of the year. It aims to start shipping iron ore by 2014 and produce 35 million metric tons a year. This includes building a 510 kilometer (320 miles) heavy- haulage railroad through Cameroon and a deep water port for bulk iron ore carriers, Sundance said April 6.
“We’ve had our technical teams in China pretty well full- time for over three weeks now going through and explaining to the potential partners how we made up” the study costs, said Casello. The company last year signed an initial accord with China Harbour Engineering Co. and China Rail Construction Co. to study building the port and rail.
Sundance may use China Development Bank Corp. and Export- Import Bank of China to help arrange financing, given the existing relationships Sichuan Hanlong, Casello said.
To contact the reporter on this story: Elisabeth Behrmann in Sydney at ebehrmann1@bloomberg.net
To contact the editor responsible for this story: Andrew Hobbs at ahobbs4@bloomberg.net
.
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A few buyers coming into this one and some good volume this afternoon.
News in AFR today summarised:
Iron ore producer Sundance Resources has said five Chinese firms have expressed interested in a joint venture at the A$4.4 billion Mbalam project in Cameroon and the Republic of Congo. "I still want to make a decision by June 30, but only if we've been through the right amount of due diligence," Sundance chief executive Giulio Casello said. Sundance said last week it would not give up more than 50 percent of the development. Page 17.
Iron ore producer Sundance Resources has said five Chinese firms have expressed interested in a joint venture at the A$4.4 billion Mbalam project in Cameroon and the Republic of Congo. "I still want to make a decision by June 30, but only if we've been through the right amount of due diligence," Sundance chief executive Giulio Casello said. Sundance said last week it would not give up more than 50 percent of the development. Page 17.
Johnny Utah
Johnny Utah
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FED:Sundance not in takeover talks with Hanlon
SYDNEY, May 30 AAP - Iron ore developer Sundance Resources Ltd
has refuted a report that its majority shareholder Hanlong Mining
is considering a full takeover of the company.
Sundance said in a statement that it was not in talks with
Hanlong regarding a full takeover.
The Australian Financial Review reported on Monday that Hanlong
was "exploring a number of potential deals with Sundance, including
a full takeover, and that it is keeping all options open as it
moves through due diligence."
Shares in Sundance were up 4.11 per cent at 38 cents at 1450
AEST.
"Sundance continues to consider Hanlong's decision to become a
major shareholder, a further indication of Chinese interest and
recognition in the validity of Sundance's strategy to develop the
Mbalam iron ore project," Sundance said.
"Consistent with previous announcements, Sundance is not
currently in discussions regarding a full takeover and continues
its ongoing discussions with several prospective strategic
partners."
Sundance is developing the $US4.7 billion ($A4.39 billion)
Mbalam iron ore project in Cameroon and the Republic of Congo.
AAP nls/jmc
SYDNEY, May 30 AAP - Iron ore developer Sundance Resources Ltd
has refuted a report that its majority shareholder Hanlong Mining
is considering a full takeover of the company.
Sundance said in a statement that it was not in talks with
Hanlong regarding a full takeover.
The Australian Financial Review reported on Monday that Hanlong
was "exploring a number of potential deals with Sundance, including
a full takeover, and that it is keeping all options open as it
moves through due diligence."
Shares in Sundance were up 4.11 per cent at 38 cents at 1450
AEST.
"Sundance continues to consider Hanlong's decision to become a
major shareholder, a further indication of Chinese interest and
recognition in the validity of Sundance's strategy to develop the
Mbalam iron ore project," Sundance said.
"Consistent with previous announcements, Sundance is not
currently in discussions regarding a full takeover and continues
its ongoing discussions with several prospective strategic
partners."
Sundance is developing the $US4.7 billion ($A4.39 billion)
Mbalam iron ore project in Cameroon and the Republic of Congo.
AAP nls/jmc
He has specified in the past (as per company website) that the company would not be interested in a takeover or giving more than 50% control of the company to a partner. In a recent previous announcement also the company said they would likely have a decision by June 30.
Any progression would be good for the SP.
I sold off early last month but have jumped back in anticipating the partnership news.
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have a look around the posts here, particularly around #1916.
these will give you an idea of the range of prices that SDL will be looking at in the future.
When you re-read this stuff, it looks comical that the SP has come back this much since.
After all this hype and disappointment, and considering a capital raising has been conducted, the pressure is mounting on the management side of the project. They have resource, they have the plans to exploit.
Impatient sellers will be leaking out by now and particularly if a further crunch comes over the next week or so w.r.t Greece's debt loads.
It could be considered the very best time to start loading up on this stock when further weakness comes - when you look at the potential earnings, and barring a serious global (or local to SDL) problem it does look very attractive if you were to hold on for a year - there will be a lot of investors who won't want to miss the train and will be watching closely from the sidelines. Why not a hostile takeover target?
As far as prices for SDL shares go, well anyone could guess, you could ask the Bernanke he is very good with that sort of thing.
Long time reader, first time poster. Thanks for this, I have just come on board with the stock in a big way, and understand that end of the month is crunch time for partnership deal?? Anyone else got a better idea about timing on this? Sorry if this has been answered elsewhere. Newby. :
:Long time reader, first time poster. Thanks for this, I have just come on board with the stock in a big way, and understand that end of the month is crunch time for partnership deal?? Anyone else got a better idea about timing on this? Sorry if this has been answered elsewhere. Newby.
Six weeks ago I posted,
"This is the start of the massive dilution that I have talked about as being necessary for SDL to advance towards their goals. I still will continue to hold SDL but I'm not expecting it to be my best investment ever. This may prove to be a good time to buy though. DYOR.
From my post earlier this month.
"If there is one thing that I have learnt over the years it is this;"High prices lead to eventual overproduction and low prices" Often very low and uneconomic prices. That will be SDL's second hurdle. The first hurdle that it hasn't yet overcome is funding. It will get funded but as yet the conditions and the cost of that funding are yet to be announced. When I know the funding details I wll decide whether to stay or go." "
And my view has not changed.
from west australia news 11/06/11:
Within the next three weeks, Sundance Resources hopes to secure a strategic partner to help develop its $US4.7 billion ($4.4 billion) Mbalam iron ore project in Cameroon and the Republic of Congo.
A successful end to the partner search would trigger a flurry of activity for Sundance, headlined by the start of construction of the massive project this year so that a timetable of first iron ore shipments by late 2014 can be met.
For Sundance chairman George Jones, sticking to the Mbalam project's ambitious timetable would be a fitting tribute to the efforts and dedication shown by the company's late managing director Don Lewis and his board of directors.
As Mr Jones, who co-founded Sundance and appointed the directors who died last June, said in the days after the crash, "they've given their lives for this company. Those of us that are left have a responsibility to do something about it".
And Mr Jones and Sundance's new managing director, Giulio Casello, have left no stone unturned over the past year to ensure the Mbalam dream becomes reality.
Slated to become one of west Africa's first and most profitable iron ore developments, the Mbalam project includes two mines either side of the Cameroon-Congo border, 580km of railway and a deepwater port at Kribi, on Cameroon's Atlantic coast.
Production would be 35 million tonnes a year, worth $5.6 billion based on today's iron ore price.
Sundance says despite the big development cost, Mbalam should pay for itself within three years.
"It is the foundations that Don and the team left behind that have been built on," Mr Jones said yesterday.
Therefore by 1 July - we will be on a winner - supposedly
Within the next three weeks, Sundance Resources hopes to secure a strategic partner to help develop its $US4.7 billion ($4.4 billion) Mbalam iron ore project in Cameroon and the Republic of Congo.
A successful end to the partner search would trigger a flurry of activity for Sundance, headlined by the start of construction of the massive project this year so that a timetable of first iron ore shipments by late 2014 can be met.
For Sundance chairman George Jones, sticking to the Mbalam project's ambitious timetable would be a fitting tribute to the efforts and dedication shown by the company's late managing director Don Lewis and his board of directors.
As Mr Jones, who co-founded Sundance and appointed the directors who died last June, said in the days after the crash, "they've given their lives for this company. Those of us that are left have a responsibility to do something about it".
And Mr Jones and Sundance's new managing director, Giulio Casello, have left no stone unturned over the past year to ensure the Mbalam dream becomes reality.
Slated to become one of west Africa's first and most profitable iron ore developments, the Mbalam project includes two mines either side of the Cameroon-Congo border, 580km of railway and a deepwater port at Kribi, on Cameroon's Atlantic coast.
Production would be 35 million tonnes a year, worth $5.6 billion based on today's iron ore price.
Sundance says despite the big development cost, Mbalam should pay for itself within three years.
"It is the foundations that Don and the team left behind that have been built on," Mr Jones said yesterday.
Therefore by 1 July - we will be on a winner - supposedly
Therefore by 1 July - we will be on a winner - supposedly
supposedly? Not exactly! If some solid news was in the pipeline the SP would start a positive march in mere anticipation... Well at least more positive than it has been recently, so to expect any magical jump come July 1st is rather unreasonable.
Nothing wrong in hoping though..
Not necessarily - that would be leaked (insider) info if that was the case.
So, when the news comes it will be a total surprise (if it confirms the project has funds to build the infra) to the market and the SP will spike.
Conversely, if there is silence from the board into July, then they will totally lose any credibility they have left, given the last timeline given - for this the most important announcement due in SDL's lifecycle. It is now at 33 c 50% retracement from the high in January. Hanlong bought near 20% at 44 c off Talbot group - they will not be happy if it does not fly very very soon!
in this case, indeed necessarily - simply because it has been forecast this way by the board, so anticipatory buyers always get jump on. its pretty standard, if good news is "expected" then money comes in.
and how much of the funding partnership is already factored into the price? sure the news of "who" it will be will push the SP, however, by how much?
if you're after an example of an anticipatory rally, read into MEO from around 6 months ago. They had "surprisingly high pressure levels" from an untapped gas well, the SP went up considerably, and only once they confirmed the well was in fact a dud the SP came crashing back down.
and how much of the funding partnership is already factored into the price? sure the news of "who" it will be will push the SP, however, by how much?
if you're after an example of an anticipatory rally, read into MEO from around 6 months ago. They had "surprisingly high pressure levels" from an untapped gas well, the SP went up considerably, and only once they confirmed the well was in fact a dud the SP came crashing back down.
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