Ann: Placement , Share Purchase Plan and Underwri, page-91

re: Ann: Placement , Share Purchase Plan and ... Hi (klob25)

No I did not say that.

A question was asked of me about why the price was so low if every thing was going to plan and announcements were saying good things.

I wrote about three other iron ore shares I have and their prices and positions.
The main things holding them back is getting an agreement for use of rail in the Pilbara,when they get that they will all fly up in price.They will not announce J/V or off take agreements or finalize them until rail is signed off.

Sundance are waiting on at least 12 companies to finalize offers and know when they pick the right ones it will take until the end of the year for every thing to be legalised in writing.

To my way of thinking they would not be looking to raise more money if they were not going to spend it on some thing important.They have costs of studies that are ongoing.Spending $20 to 30 million in 9 months is pretty serious spending if not doing any drilling or buying into other tenements.

These are my thoughts if you want to differ that is fine.

Why do you think they are looking to raise more money on top of the $19 million they had a Christmas?. The interest from that money would pay for most bills if they have not been doing much apart from keeping the site maintained.

Regards
Westcott.