Sundance Resources Limited
(ASX:SDL) and Hanlong Mining executives are bound today for Africa, where it’s expected they will secure government approvals for their $1.7 billion takeover deal.
The AFR says teams from both companies are expected to meet with Congolese government representatives this week before they head to Cameroon for formal signing ceremonies.
Last week Sundance denied reports that a delay in receiving approval from the Foreign Investment Review Board would hamper the deal, in light of concerns that the Australian Securities and Investments Commission is investigating several Hanlong executives for insider trading.
The 2011 financial year Sundance Resources reported a net loss of $21.7 million.
