nice chart setup, page-12

Thoughts on next best move:

On a Enterprise value to resource Sphere Minerals on the surface does appear more attactive.

However Sundance has a better relationship politically and also has a higher grade resource.

More importantly Sundance does not have any large blocking holder on their share registry (eg. no Chinese or Indian interests).

I really do not understand why Xstrata would not approach Sundance vs Sphere Minerals in terms of a Joint Venture Agreement / offtake agreement. As the bidding war for Sphere Minerals increases, it makes Sundance increasingly the most compelling opportunity in Africa as an Iron Ore partner.

DYOR,
KJ