afternoon repeat, page-161

Thanks Baukaw.

It now goes back to the fact that Sundance "don't" have the negotiating power any more. They have always stated that the Chinese are their preferred partner, thus all other negotiations have been taken off the table.

There will be no white night coming to their aid with a counter offer.

Any advantage the board had to negotiate a deal, has been removed and the negotiations have moved to Hanlong who are negotiating a JV partnership on their behalf.


They are negotiating a deal for a company that they do not yet own and our board are powerless to do anything about it.

The take over offer was for 100% of the Sundance shares. It was not conditional on Hanlong having to secure a JV partner prior to finance being approved. The Chinese added this twist after the fact.


This is a dodgy deal IMHO and the Chinese have our board by the goolies.