daytrading oct 18 afternoon, page-18

SDL this will make some of you happy! Just out on newswires before any ASX release .... of course.

Sundance Resources is one step closer to securing a 45¢ takeover, after the China Development Bank signed off on financing the takeover by Sichuan-headquartered private Chinese company Hanlong Mining.

In the latest delay to plague the takeover, the original letter received from the CDB did not satisfy the scheme documents and had to be redrafted, as Street Talk reported. An outcome was expected this week.

But the companies are now satisfied with the commitment, and the scheme can be sent to court for a judge to approve it being put to shareholders. It’s understood the two parties are trying to work out the timetable for a definitive scheme.

Shareholders remain hopeful that a deal will be executed before Christmas.

Sundance shares have not traded since September 28.