SDL (ASX) Sundance Resources expresses &quot;shock&quot; at new MoU

Originally posted by pe981: ↑

Seems a logical move to start pre discovery action against ANS and Ding.
I posted at the start of this (ANS / WAPRC agreement) that the whole thing appeared to be simply a change of control event (for both ANS & SDL)
Of course WAPRC (& later Midwest) never came up with the $100m and the deal was canned (despite those “in the know” declaring long and loud that it was all just box ticking and imminent!!).
ANS continues to be drip fed by Ding but still no major capital introduced, but all of a sudden MOU’s signed, African Govs satisfied and apparently all systems go!
Seems to have landed nicely for Mr Ding and ANS (on the surface) doesn’t it?
(The question still remains why they needed to use ANS as a vehicle in the first place?)
It appears SDL have little to stand on because of lack of progress over the years and a clear inability to bring capital investors to the table. Quite likely SDL’s track record may well haunt them in future claims...............
I am sure Congo and Cameroon will have a good case why they would not wish to proceed with SDL.
This pre discovery action by SDL is however entirely appropriate due to the circumstances of this whole deal and time line. Whether they find anything actionable is of course another matter altogether.
Certainly a wiff in the air how ANS supplanted SDL over time, in organising an investment consortium, in negotiations in Africa and ultimately gained a direct interest in the African tenements which they could not do while negotiating with and on behalf of SDL.
Interesting also that the investing partners have stepped forward now (once SDL are out of the picture) All this without Ding ever having to come up with the mythical $100m!
Questions still remain how ANS will be capitalised to proceed in this transaction and how it will play out for existing ANS investors.
Fascinating to watch this and still seems to be a lot of water to flow under the bridge yet.
(All just IMO and broad brush of what has occurred)

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Nice post with some merits

cheers