Press Release Source: ABN Newswire On Monday 21 March 2011, 10:00 EST Perth, Australia, Mar 21, 2011 - (ABN Newswire) - Sundance Resources Limited (ASX:SDL.AX) (Other OTC:SUDCF.PK) has been notified that all of the shares in the Company previously owned by Ken Talbot's estate have been transferred to Hanlong Mining.
Mr George Jones, Chairman of Sundance Resources, was contacted by representatives of Hanlong once the deal was done to express their regard for Sundance as an attractive long term investment.
Mr Jones said, "It was a friendly discussion with Hanlong and we perceive their investment positively. We consider Hanlong's decision to become a major shareholder a further indication of Chinese interest and recognition in the validity of our strategy to develop the Mbalam Iron Ore Project over the next four years."
The shares, which represent approximately sixteen percent of the issued capital of the Company, will have a deferred settlement period.
Sundance Resources' Board would also like to acknowledge the commitment and contribution of the Talbot Group and Ken Talbot (dec) investment in Sundance as the foundation to the Company's success over the course of the past four years.
SDL Price at posting:
47.0¢ Sentiment: Hold Disclosure: Held
