Sundance looks for suitors

Company News

Sundance Resources Limited (ASX:SDL) is pursuing suitors after the collapse of Hanlong's takeover bid for the group.
 
The iron ore explorer says it’s vigorously pursuing renewed talks both with Chinese parties other than Hanlong and with interested groups outside China on a number of options for the development of the Mbalam Project.
 
Sundance says it’s looking forward to concluding arrangements for the introduction of a strategic partner to the project.
 
Earlier this month, the scheme implementation agreement between Sundance and Hanlong was terminated.
 
Under the agreement, Hanlong would have acquired 100 per cent of Sundance Resources, but the deal collapsed when the Chinese company ran into problems financing the bid.
 
Sundance Resources reported a net loss $14.1 million in the first half of the 2013 financial year.