Hi,1st Sept 13,Some news ..another five yrs B 4 we see the mine...

Hi,
1st Sept 13,

Some news ..another five yrs B 4 we see the mine producing;
at least we are still holders in SDL ...should see some price appreciation in 5 yrs the speculators will B on board by then.
Cap raising could dilute us..U know bring investors on board.
No room for consolidation is there?

Reuters reported that Australia's Sundance Resources expects to bring its AUD 4.7 billion iron ore project in West Africa online by early 2018 despite the collapse of a takeover by China's Hanlong Group in April that many expected to doom the project.

Mr Giulio Casello CEO of Sundance said that the company is also aiming to finalize an equity partner for the project and have offtake secured by the end of the year. By early next year, Sundance expects to have selected a contractor for the development.

Investors saw little hope for the future of the project when the Hanlong deal fell through but Sundance has said it was talking to potential partners and was to have concluded discussions with them by June. It remains upbeat about the prospects of the 35 million tonne a year Mbalam Nabeba iron ore project on the border of Cameroon and the Republic of Congo.

Mr Casello said that “Late 2017, early 2018 is the time we would expect to see product out of this project. Before the Hanlong deal fell through, Sundance had been aiming for first shipments from Mbalam by late 2015. Although the collapse of the Hanlong deal was a setback the Chinese company's backing did help Sundance expedite permits and environmental approvals.

He said that “There will potentially be an oversupply. We might see the iron ore price drop down to AUD 100 per tonne or even AUD 80 per tonne over the next few years. There will be shakeouts which will result, in 2018, the need for iron ore.”

Source - Reuters