Agreed and if you look at wording of announcement it says...

Agreed and if you look at wording of announcement it says "potential business acquisition" so if it was an outright purchase they may have worded it differently-and could suggest it will require SDL shareholder approval as i suspect they may already have management approval - not long to wait and could see 2c + open if good

also ANS bought couple hundred million shares recently in SDL at .004c

AustSino Resources Group Limited (ASX: ANS) (AustSino) has agreed to subscribe for approx. 187,500,000 fully paid ordinary shares in Sundance Resources Ltd (ASX: SDL) (Sundance) for a subscription price of AUD $0.004 (0.4 cents) per share

Perhaps our Chinese friends/partners are getting in with their large wallets as based on the following - there were a lot of discussions recently and they know what SDL are sitting on considering they were previously a 1 billion dollar company - SDL are asset rich and cash poor so why not take them out at a bargain and then move to discussions between Chinese and African officials to get this thing moving !!!

Also late in the Quarter, the Company’s Chairman and Managing Director, Mr Chun Ming Ding, returned to China and Hong Kong to progress discussions with a range of potential investors and project partners.

QUARTERLY ACTIVITIES

Also in April, the Board and Management of the Company travelled to China to meet with several potential investors and project partners. Several meetings were held in Shanghai, Beijing and Shenzhen and the results of those meetings were very encouraging, although no binding agreements were executed at that time. Over the course of the Quarter, the Company undertook preparatory work, which then culminated in the appointment of Churchill Consulting to lead the development of a Concept Study in relation to Mid West Economic Infrastructure Solutions.

The Board and Management have been working closely with various Mid West stakeholders, Churchill Consulting and other consultants, in order to progress the Concept Study. It is envisaged that the Concept Study will be completed during the 3rd Quarter of 2018.

The Company hopes that the outcomes of the study will provide a catalyst for further discussions and studies by parties interested in seeing the development of the Mid West as a major iron ore province. Late in the Quarter, the Company also terminated its lease at its previous premises at 100 Colin Street, West Perth and worked with its contractors to fit out its new Head Office at 35 Havelock St, West Perth.