22 March 2011 MEDIA RELEASE Hanlong Mining takes 19% stake in Sundance Resources
KEY POINTS ?X Hanlong Mining becomes largest shareholder in Sundance Resources Ltd ?X Hanlong acquires Talbot Group stake Hanlong Mining Investment Pty Ltd, through its affiliated entities (collectively ??Hanlong??), has become the largest shareholder in Sundance Resources Ltd (ASX:SDL). On Friday 18th March 2011, Hanlong acquired the entire holding of the Talbot Group 433,791,352 shares which added to existing relevant interests gives it 514,984,194 shares, or approximately 19.0% of the company. Hanlong Mining Chairman and Head of Iron Ore Business, Peter Mansell, said the investment in Sundance was consistent with Hanlong??s strategy to be a significant investor in quality projects in the iron ore industry. ??We??re a financial investor and will be a supportive shareholder assisting the company to fast-track its infrastructure and mine development plans.?? Hanlong Mining is a subsidiary of Sichuan Hanlong Group, a privately owned industrial conglomerate based in Chengdu, China. -
SDL Price at posting:
47.0¢ Sentiment: Hold Disclosure: Held
