Apparently there is a big tennis match tomorrow between SDL and howlong in hongkong
Good luck to all
bouhr
Sundance Resources, China Sichuan Hanlong Mining
Africa-focused iron ore company Sundance Resources is apparently set to meet suitor China Sichuan Hanlong Mining tomorrow in Hong Kong to thrash out a deal.
According to The Australian Financial Review, sources say that Hanlong is open to changing its 45 cents proposal by “a few cents,” but it’s sweating Sundance out to see if it cracks first.
Keep an eye on this one because there’s increasingly chatter in the market that another bidder is waiting on the sidelines. No word yet on who it might be.
There’s no incentive to move until the talks between Sundance and Hanlong completely collapse. But there’s value in Sundance if China declines to take it.
SDL Price at posting:
33.5¢ Sentiment: LT Buy Disclosure: Held
