Morning all,
Another glorious day watching the beautiful people as they take their early morning exercise along Bondi Beach.
I see on page 51 of the AFR there is a story about our Sundance.
Long shadow over sundance is the headline.
It basically says China's National Development And Reform Commission will have a hard time finding a new buyer for iron ore explorer Sundance Resources if it rules out companies associated with allegations of insider trading according to "experts".
It also states that insider trading is becoming more prevalent in China as its capital market expands, but it is diminishing within China's state-owned enterprises.
It says there has been some concern over the future of the $1.3 billion dollar deal, but sources close to both companies were keen to keep forging ahead with talks to effect the takeover.
It also states that Beijing authorities control outgoing foreign investment and have never allowed two Chinese companies to bid up an asset price by competing to buy it.
It's worth a read if you can get the paper today.
My spies in Perth tell me there was a flurry of activity at Sundance headquarters yesterday.
They believe a meeting between Sundance and Hanlong will be held on Monday.
Now back to watching the beautiful people.
My grandmother tells me: Con you are beautiful on the inside.
I think that's her polite way of saying you're ugly, but we love you anyway :)
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