current state of affairs - sdl

This is what I believe is the current state of affairs with Sundance:-

Hanlong have made an initial offer of 50 cents per share and Sundance management have counter offered a certain price which we are not privy to.

The reason being that Hanlong require our Indicated resources moved to the Reserve category which Guilio has mentioned in the latest presentation should take 6 weeks. Hanlong require confirmation that indeed the 35 million tonne per annum DSO is achieveable and that is why they are waiting on the next Resource status announcement before they up their original offer.

The Congo/Cameroon governments require surety that the Chinese will invest and follow through with either takeover or JV before they sign off on the mining conventions.

Sundance is working very hard to keep negotiations continuing to get the best deal for shareholders which is looking more likely that the takeover offer from Hanlong will proceed hopefully with a more realistic offer than the current 50 cent per share.

What the price Sundance management think is beneficial to shareholders is anyones guess.

Good luck holders.