Sundance Resources Ltd soared 16.2 percent and hit a six-month high of A$0.11, continuing its recent rally.
"It looks like something's going on with some offtake agreements as far as iron ore shipments are concerned," said Michael Heffernan, senior client adviser and economist at broker Lonsec.
"Obviously the market thinks there's something going on there that will be very positive for them."
SDL Price at posting:
13.0¢ Sentiment: Buy Disclosure: Held
