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Update on Sundance Resources

The 16% stake in Sundance Resources owned by the late Ken Talbot was sold yesterday:

www.bloomberg.com/news/2011-03-18/sundance-resources-has-16-stake-sold-for-a-191-million-1-.html


The company also issued a major resource upgrade during the week. The latest guidance from the campany is that they need to raise 4 billion to complete this project and have Q1 2014 as their target completion date. This is obviously a long term proposition for investors, with many hurdles along the way, not least the raising of funds to get the project underway. It seems unlikely that Sundance Resources could complete this project without the participation of China inc. or alternatively one of the iron ore majors. I've owned Sundance previously but exited prior to the GFC. Given the long road ahead I think it is best to keep it on your watch list and look for entry points later on as project targets get met.

Recent announcements can be found here:

www.asx.com.au/asx/research/companyInfo.do


Previous articles on Sundance Resouces:

seekingalpha.com/instablog/486073-wildebeest/79981-sundance-resources

seekingalpha.com/article/185763-which-iron-ore-producers-you-want-to-own