57c is way way too cheap for this company. People have got to realise the importance that being a ‘first mover’ into this area gave Sundance. They have been able to tie up the best ground and control one of the last iron ore districts/provinces that is un-developed in the world. Selling out now for 57c is crazy and will be looked upon as being a great deal (/steal) for Hanlong in 3-5 years. Sundance are yet to fully explore their tenement package (look at the air mag images in past reports - they haven't yet scratched the surface of this area). Production of 35Mt /yr at even $100/t = $3.5 B in ground value per year for ?+10 years (of DSO = ~$35B in ground value over 10 years at $100/t) with no further expansion of known resource - to let this company be sold for 57c (1.7B) is ludicrous. I hope people realise this and hold out for a fair price/50:50 JV for what will be a significant long life project (these don’t come around everyday !).
SDL Price at posting:
45.5¢ Sentiment: Hold Disclosure: Held
