Sundance Resources advised that it has received formal notice...

Sundance Resources advised that it has received formal notice from Hanlong (Africa) Mining Investment that Hanlong will not receive the Highly Confident Letter from China Development Bank due by 28 November 2011 and requests that Sundance waive the requirement for the letter as a condition precedent for Phase One of the Scheme Implementation Agreement (SIA) which was signed by both parties on 4 October 2011. The company's board believes it is in the best interests of all shareholders to waive the requirement for this letter, as it does not affect the current Scheme timetable. Hanlong have reassured the company of its determination to continue with the Scheme and its confidence that subject to successful completion on acceptable terms of the Mbalam Convention, this Scheme will proceed as intended.