I believe the downramper are on the money here with the deal with blacksone and noble.
SUNDANCE FINDS $40M FUNDING FOR MBALAM-NABEBA WORKSPost date: 10/22/2013 - 09:09. Sundance Resources has lined up $A40M to progress planning for its ambitious Mbalam-Nabeba iron ore project in Cameroon and Congo. The Australian company signed legally binding agreements for convertible note issues of $20M each with Noble Resources International and an investor consortium managed by private equity funder Blackstone Alternative Solutions, investor D E Shaw Group and shareholder Senrigan Capital.
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SUNDANCE AIMS TO NAME MBALAM EPC CONTRACTOR MID-2014Post date: 12/19/2013 - 22:36. Sundance Resources aims to select a preferred contractor by the June 2014 quarter to finance and build the rail and port infrastructure for its Mbalam-Nabeba iron ore project in Cameroon and Congo. The Australian company says it’s received a strong response from international engineering, procurement and construction contractors to its call for tenders. Sundance declines to name the tenderers but says they include Chinese and non-Chinese parties with track records in large scope and scale projects.
Smart people ring up noble and blackstone to get the progress conditions and when. It public information if you know how to look for it.
What the quote from the movie "I see dumb people who keep loosing money"
