Interim Operational and Governance Matters Sundance Resources Chief Financial Officer, Mr Peter Canterbury, has assumed the role of Acting Chief Executive Officer for the foreseeable future. Mr Canterbury and the executive management team, in close consultation with the Companys advisers are implementing a number of actions relating to ongoing operational and governance matters. The Company requested the ASX to put the Companys securities into a trading halt prior to the open of trade on Monday 21 June 2010. This request has been granted, with the Company not expecting trade to recommence until there is further certainty on the outcome of the incident and the search and rescue operation. The Company will keep shareholders advised on when it believes the Companys securities will recommence trading. While the executive and management team are working to the clear mandate determined by the Board over many months, they are cognisant of the need to put in place additional strategic support on an interim basis. To this end, and in consultation with a number of major shareholders, the Company has appointed three strategic advisors on an interim basis. The role of the advisors is to support and provide guidance to the Company in the execution of a range of strategic and corporate operational matters. The strategic advisors are:
Mr George Jones: Mr Jones is a shareholder in Sundance and highly experienced mining industry executive. He was, until 31 August 2009, Chairman of Sundance and has a comprehensive understanding of the Company and its assets. Mr Jones has more than 35 years experience in the mining, banking and finance industries and has been a Director of a number of private and publicly-listed companies, including: Gindalbie Metals Ltd, where he is currently a Non-Executive Director. Mr Jones has a Bachelor of Business degree from Curtin University of Western Australia.
Mr Michael Blakiston: (BJuris LLB) Mr Blakiston is a solicitor with substantial legal experience in the resources sector. He is a partner of the corporate and resource law firm,Blakiston & Crabb and has over 29 years appearance. Mr Blakiston holds Bachelor of Jurisprudence and Bachelor of Laws degrees from the University of Western Australia.Mr Blakiston has extensive commercial experience both in advisory and directorial capacities having been involved in project assessment, structuring and financing, joint ventures and strategic alliances in the resource industry.Blakiston & Crabb are currently engaged by Sundance Resources to provide ongoing legal advice. Mr Blakiston has been playing a leading role in the negotiation and formulation of a number of key agreements relating to the Sundances Mbalam iron project.
Mr Adam Rankine-Wilson: Mr Rankine-Wilson is a Director of Azure Capital. Prior to joining Azure,he was a founding Director and the Executive Chairman of Capital Investment Partners.Mr Rankine-Wilson was central to the original agreement that saw Sundance Resources acquire the Mbalam Iron Ore Project and retains extensive in-country government and key stakeholder relationships.Previously, Mr Rankine-Wilson worked as Managing Director for Grange Resources Limited. He has extensive experience in the mining and investment industries, including participating in the negotiation and consummation of numerous significant business acquisitions, as well as being responsible for the associated finance raising and due diligence enquiries and processes. A further update will be provided as more information becomes available.
Ends Peter Canterbury Acting Chief Executive Officer Sundance Resources Ltd +61 (8) 9220-2300 Media enquiries David Brook / David Tasker Professional Public Relations +61 (0) 433 112 936 E : [email protected]
SDL Price at posting:
13.0¢ Sentiment: None Disclosure: Held
