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Sundance court date in question
PUBLISHED: 0 hour 59 MINUTE AGO | UPDATE: 0 hour 59 MINUTE AGO PRINT EDITION: 03 Dec 2012 Edited by Sarah Thompson and Anthony Macdonald
Sundance Resources was back in a trading halt on Monday as it awaits delivery of a credit approved term sheet from China’s Hanlong Mining ahead of a scheduled court date to approve the companies’ $1.3 billion scheme of arrangement on December 18.
Sundance is ticking the last of its boxes to get this deal done, at a revised price of 45¢, after securing the crucial mining convention from the Cameroon government last week.
While most of the Sundance board, including boss George Jones, flew back to Australia yesterday, a couple of key operatives remain in the Republic of Congo trying to make sure they get a mining permit from the government in time for the court proceedings.
If they can’t, however, the court date could again be postponed.
Sundance directors are set to meet this morning.
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