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Cannot figure out why they have done a placement at such a large discount at 35c when there is supposed to be a scheme of arrangement due in 4 months at 57c. Is this an indication that the scheme is not going well depsite company announcements. Interseting how the share price dropped yesterday ahead of announcement. I hope ASX does their job but doiubt any action will occur.

jeeves

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The Market seems equally confused. This whole thing is starting to "smell" - and we're not talking roses.

Could it be that the "sophisticated" investors happen to sit close to influential MPs?

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  • 2 weeks later...

The way things look, some idiot is having a extended lunch, and does

 

not realise he/or/she has left the bot working overtime selling 100 shares

 

at a time,about every five seconds, it has been working since the start of trade.

 

 

Some person is going to get their bums kicked. lol.

 

Cheers.

 

Simmo.

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TRADING HALT REQUEST

SUNDANCE RESOURCES LIMITED ACN 055 719 394 (the ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“CompanyÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ÂÂ)

The Company requests an immediate trading halt of its securities until open of trading on Monday, 2 July 2012 or release of an announcement by the Company.

The reason for the request is pending an announcement on NDRC Provisional Approval as defined in the Amended and Restated Scheme Implementation Agreement with Hanlong (Africa) Mining Investment Limited.

An announcement will be made to the market prior to the open of trading on Monday, 2 July 2012 or earlier.

The Company is not aware of any reason why its securities should not be halted.

Yours faithfully

BRIAN CONRICK

 

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I hate to be pessimistic....but I believe the Chinese are being themselves....looking to bargain the price down, or at least get some concessions. .... what with the economies of the world in turmoil.

the deal should go thru....as they have considerable shares. But they are Chinese.

(My sister is a furniture salesperson....in an upmarket independent shop in Vancouver....

She likes the commissions she gets from sales to Chinese people...because they buy expensive and often big purchases...

but she hates dealing with them....because they are always trying to get a lower price.

But...she says....the Indians are worse. They treat you like dirt....because you are just a salesperson....at least the Chinese smile she says ............aaaaaaaaaaahhhh........the Chinese smile masks their thoughts......like Julia Gillard....keep the power, stab people in the back....oh oh...I get peed off.

You know I can't blame the Liberals (who I don't support) for not even thinking about the Malaysian situation. I mean it is going to cost

800 million dollars given to the Malays and is open -ended and will cost more in the future. Sometimes Labour (who I also don't support) says the Liberals are stubborn...but Labour is stupid....and just as stubborn for not willing to admit the Nauru situation DID stop the boats. And cost less than 800 million.

 

And then there is the Greens whose Ideas of not processing people offshore I also don't support...and can't for the life of me see why they would also not agree to process them offshore...it makes sense. It keeps unwanted people away from our shores. Thank god we don't have a common border like the Europeans. what a mess they have with refugees and unwanted illegals.

 

I know...wrong thread...but what else is there to write about with Sundance.

 

Merc

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  • 1 month later...

FOUR more employees of Chinese miner Hanlong Mining could face insider trading charges. The Australian understands that the Australian Securities & Investments Commission is investigating four employees over an investment syndicate at Hanlong which netted the company's top brass more than $1 million in insider trades on Hanlong investment ventures, including the proposed takeover of Sundance.

This month Bo Shi Zhu, 30, known as Calvin Zhu, admitted helping to organise and participating in an insider trading syndicate with former Hanlong managing director Steven Xiao, chief operations officer Nelson Feng Chen and chief financial officer Simon Yang.

Mr Zhu has pleaded guilty to three counts of insider trading, an offence that carries a maximum 10 years in prison.

The four men made about $1.3m on inside trades after setting up a company out of Hong Kong called Golden Stone to make money on personal investments. The bulk of their profit was made from the sale of personal shares in Sundance after the four decided to make a play for Sundance, buying and then immediately selling personal shares in the Australian miner when the takeover bid was announced.

Their trades included making a false bid on Australian uranium miner Bannerman Resources in July last year, which artificially inflated the share of the company, allowing them to sell shares in the company for a profit.

Hanlong has been granted approval for its takeover of Perth-based Sundance by the Australian Foreign Investment Review Board and China's National Development and Reform Commission.

Hanlong's bid for Sundance has been in doubt since the Chinese suitor moved this month to significantly reduce its 57c-a-share offer price.

ASIC is powerless to stop the Hanlong bid after it was given approval by the FIRB, but is looking at the involvement of current Hanlong employees involved in the insider trading syndicate responsible for the bid.

 

A spokesman yesterday told The Australian there was an "investigation ongoing in relation to other persons associated with Hanlong Mining."

 

"ASIC does not propose to comment further at this stage as its investigation is ongoing and the matter is now before the court," the spokesman said.

 

Hanlong Mining could not be contacted for comment.

Sundance chief executive Giulio Casello said the prospect of further charges being laid against current Hanlong employees was not an impediment to the takeover as ASIC had given the tick of approval to Hanlong after the Foreign Investment Review Board approved the deal.

"We don't think this will have any effect on the takeover because FIRB gave the OK for the deal to go ahead," Mr Casello said.

"We had been dealing with two people that have been charged. " They have been replaced by another two guys."

Of the deal, Mr Casello said the companies were "still in negotiations on the price" to be paid by Hanlong. Hanlong's former managing director, Steven Xiao, is in China.

http://www.theaustralian.com.au/business/m...f-1226450416534

 

 

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  • 2 weeks later...

Three weeks and now news from BOD re negotiations with Hanlong. I can see that the BOD has taken the bait and now cannot get of the hook with hanlong having them tightly by the "you now whats". I cannot see Hanlong coming back with an offer at any better than 40c which is 30% less than the original bid and I would think that would be the best we can hope for. Dogged again by a naive BOD.

 

 

 

Jeeves

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