SDL, SUNDANCE RESOURCES LIMITED

[nipper]

In Reply To: nipper's post @ Dec 22 2020, 10:19 AM

Perth based Sundance Resources is seeking a multibillion dollar payout from the Republic of Congo after being stripped of its iron ore mining licence in the central African nation where China is casting a big shadow.

Two other Australian-based companies have also had iron ore mining and exploration rights stripped by the RoC, which then awarded them to a mystery company with no history in the region. The mystery company has been handed rights to about a billion tonnes of high grade iron ore by the RoC.


Sundance said on Monday that the RoC had issued decrees purporting to strip its subsidiary Congo Iron of the mining permit for the Nabeba iron ore project and re-issued the permit to Sangha Mining Development Sasu.

Sangha Mining has also been awarded permits and licences for iron ore projects that were stripped from ASX-listed Equatorial Resources and privately-owned Core Mining Congo.

Equatorial Resources said it considered the sudden awarding of the Badondo (Equatorial), Nabeba (Sundance) and Avima (Core) permits to Sangha Mining a "flagrant breach of the RoC (Congo) government's obligations under the mining code, the relevant mining conventions which exist between the permit holders and the RoC government, and international law".

Both Sundance and Equatorial said they had no knowledge of Sangha Mining and were not aware of any previous mining activity by the group in RoC.

Sundance said it would conduct a full investigation into the actions of the Congo and into Sangha Mining before an arbitration process Sundance has kicked off by issuing a notice of dispute and notice of expropriation to the Congo.

[nipper]

Belt and Road.

[Chief Wigam]

No comments on this stock for a year. I would like to start a discussion about what people think are former Leighton boss', Wal King's plans to turn this company around.

He is highly respected in Australia and seems everything he touched at Leighton's turned to gold.

[junglej1m]

Does anyone care to speculate about the outcome of the partnership talks going on at the moment?

[mercury]

In Reply To: junglej1m's post @ May 24 2013, 12:04 PM

yes the reply was no doubt the cause of the bounce. ... but I wonder about the falling price. ?

[junglej1m]

In Reply To: mercury's post @ May 24 2013, 05:02 AM

Pretty sure the bounce is to do with Sundance's reply to the ASX querying the price and volume changes in the last few days.

[mercury]

today's bounce has me a bit confused. More shares got traded in the first couple of hours than was traded in the complete day before. some very heavy trading indeed. I wonder, if some African rulings regarding royalties and not sending concentrates to other countries may have a bearing on the sentiment and prices.?

Merc

[veeone]

In Reply To: mercury's post @ May 22 2013, 10:27 AM

Truly hammered........... wonder if Hanlong selling down their shares as well?? V1

[mercury]

SDL seems to be suffering a lack of iron (ore price future).

merc

[mercury]

In Reply To: Carsha's post @ Apr 20 2013, 08:45 AM

True

however, if I look at the assets from the point of view what has been spent already (an asset) then any company / state wishing to buy them out....would probably not get it for less than the money already spent....except if there were an economic downturn or geopolitical problems. I feel that geopolitical could be a problem... Because of greed from officials who want to get control of the assets. That is very possible in places in Africa.

And that is why my investment is small. But if another offer did arise ...I can't see it being 10cts unless the price of IO drops significantly. AND if the outlook for IO remails reasonable...then there could be counter bids.
What I would love to know...IS...do the shares that Hanlong hold remain static...or have some been sold. ? Probably someone knows. And probably we won't know until long after a purchase or sale is made.

I always find it interesting that when a share price is dropping that the purchase of shares from a company that wants the price to stop dropping is noted under "change of substantial shareholder interests" or "director's change of interest" they are noted very very quickly to stop the rot.

But when they are accummulating it doesn't happen quickly...unless they WANT you to think that something is happening

As seen with NEA. The price jumps from 3 cts to 25cts. 800% ....but the profits are hardly moving that fast.



merc