It's odd that on one hand Hanlong is making public statements around the massive potential of Sundance resources and that it's a game changer for China, and then on the other hand, putting in a ridiculous takeover offer. Just seems like a strange [or brilliant] tactic.
Hanlong really appear to be in a win-win situation as the major shareholder. They either get the company at a steal or they force other player's to show their hand and to make a substantially higher offer (well above Hanlong's 40c purchase price).
And on another point... this talk of 60c being an acceptable bid to shareholders. Well, that's just rubbish. The thought of selling this gem for 60c makes me feel sick. Hold tight!
SDL Price at posting:
50.5¢ Sentiment: Buy Disclosure: Held