SDL 0.00% 0.6¢ sundance resources limited

Point 6 (Below) Out of the above document is why we will stay...

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    Point 6 (Below)  
    Out of the above document is why we will stay suspended for at least 6 to 8 weeks as the ODI will take that long For WAPRC (Shanghai) to get through the Chinese regulatory process. And there is no way that ASX/FIRB/ASIC are gonna allow ANS/SDL to trade on a rumour rather than the fact that the money is truly available.  

    1. the WAFIN Agreement needs signing -
    2. Then after that they will lodge the ODI - (6  Weeks minimum on that)


    Further information in relation to Chinese regulatory approvals process
    Further information about the process and indicative timing for WAPRC to obtain the relevant Chinese regulatory approvals and to remit the proposed A$100 Million in placement funds from China to Australia, is set out in Schedule 6 of this Announcement.
    "AustSino understands that WAPRC has prepared, but has not yet formally lodged, its application with the Shanghai office of China’s National Development and Reform Commission (NDRC). AustSino understands that WAPRC will formally lodge its completed application for ODI approval on receipt of confirmation that Wafin Ltd has signed the Sundance Agreement and when it has finalised its proposed investment structure to make the investment. WAPRC anticipates formally lodging its completed ODI application around the end of September 2018 and that its ODI application will take approximately 4-6 weeks to be considered."
    AustSino also understands that the process for obtaining ODI approval is a relatively rigorous and comprehensive process (pursuant to which the identity of the investor, the source of the proposed investment funds and the merits of the proposed investment are carefully assessed) and that if/when a Chinese outbound investor has been granted ODI approval, the process for remitting funds out of PRC to make the investment is a relatively streamlined and orderly process.
    The completion of both the Proposed WAPRC Transaction and the Proposed Sundance Transaction are conditional on the remittance of WAPRC’s proposed placement funds of $A100 Million from China to Australia.


    Patience is now required - as far as I can see no games are being played here, this is hugeWe will all have the names of the Chinese Backers TO " WAPRC" before SDL/ANS stocks are out of suspension

    Really DYOR -
 
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