Sundance (as per GC's remarks at ADU - certainly no slip of the tongue) is selling down (as a STATED strategy) a stake in the trans-central-African EPC infrastructure (as a long term regional infrastructure business - as opposed to the Mbalam-Nabeba IO mines in the case of Hanlong) .......has IMO just China the best camouflage for the legacy problem and questions of the original Hanlong bid.
China can - IF China is the ultimate victor (without confronting the embarrassment of the previous NDRC heist) now publicize and distinguish the deal to be a regional infrastructure deal.
I think the sale of the mine (stake at whatever level) is intricately linked to the EPC infrastructure sale (invariably) but it would be logical for that to take place subsequently.
SDL Price at posting:
6.6¢ Sentiment: Buy Disclosure: Held
