macquarie private wealth

Intresting read.


Business Description
Sundance Resources Ltd (SDL) is an Australian exploration company focused on mining
interests in the Republic of Cameroon on the central west coast of Africa. SDL's primary
focus is its 90%-owned Mbalam Iron Ore Project in Cameroon.
Strategy Analysis
Strategically, management is looking to position SDL as the 'first mover' iron ore project
developer in West Africa and target potential strategic partners for the development and
financing of export infrastructure. SDL consider West Africa to have the potential to
develop into a significant new iron province, and use this as the basis for developing a
global iron ore business. SDL owns 90% of the Mbalam Project, recognised as a Project
of National Interest by the Cameroon Government.Sundance Resourcesannounced a
substantial increase in the JORC-Code compliant Inferred Mineral Resource inventory of
Itabirite hematite at its Mbalam Iron Ore Project in Cameroon, West Africa to 1.75Bt @
40% Fe. This represents a 50% increase in Itabirite resource tonnage and complements
the Inferred Mineral Resource of 223Mt DSO quality hematite grading 61.6% Fe
announced by Sundance on 3 September. The upgraded resource includes 0.8Bt @ 43%
Fe (as compared to the average 38% Fe reported in the July 2008 resource statement).
This increased grade is expected to result in reduced mining and beneficiation costs.


http://www.legalsuper.com.au/files/asx200/snapshots//SDL.pdf