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Here it is.

Top Gainer: Sundance Resources (SDL)

Closing price
$0.36
Change +0.025
% change +7.5%

If you're looking for take advantage of the recent price decline in commodities, Sundance Resources Limited (SDL) is an interesting pure play on iron ore. SDL shares have increased more than 180 per cent over the last year and are currently trading about 40 per cent below the 52 week high it made at the beginning of January. SDL was the day's biggest gainer, up 7.5% to beat Mirabela Nickel into top spot.

After hitting a multi-year high of 59.5 cents in the first week of this year, SDL has been on a steady slide down to its current level of 36 cents. Still, many investors have done well, as the junior miner is up 180% for the year to date and has climbed 18% in the past two weeks.

SDL is an interesting play for several reasons: firstly, it's one of the few iron ore pure-plays with a large scale, low cost project. Global diversified miners such as Xstrata, Rio Tinto, Vale and BHP Billiton have recently shown interest in West Africa for iron ore developments, and steel companies are seeking projects to secure long-term supply.

Many investors are wondering if we have we seen the top in commodity prices for the time being, or if this is buying opportunity. As evidenced by SDL's share price growth, share prices on commodity pure plays have enjoyed a tremendous run since September last year - as markets assumed that China economic growth would continue running at the same rapid pace as before the financial crisis hit.

And with expectations that China growth could well continue at the 8 per cent mark, its appetite for raw materials and energy will most likely continue. Bell Potter Securities senior client adviser Stuart Smith believes that commodity price falls on the back of China's December GDP and inflation figures were overdone. "The market has been quite aware that the growth was over 10 per cent. All they're (China) is trying to do is stifle speculation without denting the momentum that they've built up in the last 30 years."

Argonaut Securities says that SDL shapes as a pivotal player in unlocking the iron ore potential of Central-West Africa. "Mbalam could ultimately become part of a ~100Mtpa regional development encompassing Core Mining�s Avima project, African Aura�s Nkout deposit and Equatorial Resources� Badondo project," notes Argonaut, saying that a significant milestone would be if SDL secured a strategic partnership or project financing with the big Russian and Chinese companies operating in the area. "Given the level of interest, SDL may seek multiple partners to maintain corporate appeal whilst still underpinning development of Mbalam," says Argonaut. You can read the full report here.

Renaissance Capital has a buy on the iron ore miner, with a price target of 76 cents - more than double the current share price. It refers to SDL as a "high-quality, iron ore project" with funding as the key catalyst. "The company is likely to sell up half od its interest in the project in return for the required equity to fund the project." it says. You can read the full report here.

According to Thomson Retuers broker consensus data those brokers covering the stock are bullish, 3 brokers hold Buys on SDL, with no Holds or Sells.