What happened yesterday is like being at an auction for a home with many people watching, but no- one putting up their hand to make a bid and only one guy driven by the agent pushed to making a respectable bid.
What happens when the agent does his stuff and goes back inside and consults with the owner and then comes back outside to declare THE PROPERTY IS NOW ON THE MARKET AND WILL BE SOLD, all interested buyers are flushed out and the real bidding starts..
Hanlong buying a stake in Sundance cornered management and effected there ability to negotiate any potential JV partnerships with the Chinese.
My take on things is GJ has now declared to all that Sundance is on the market and if your interested, well you have to trump 57cents.
Regarding the mining conventions/ permits given for the deal to go through, you have to accept as it's a bit like buying a great retail business that has no lease, you would be mad as once you took over the business you could be turfed out by centre management.
I SAY THAT MANY HAVE EXPRESSED AND HELD BELIEF ON HOW GREAT THIS ASSET IS, YOU ARE ABOUT TO FIND OUT IN THE NEXT SIX MONTHS ON WHETHER THAT'S TRUE AS IF IT IS, THE AUCTION HAS ONLY JUST STARTED. IF THERE ARE NO MORE BIDS THEN WE ALL OVERESTIMATED THE VALUE AND LET'S MOVE ON HOPEFULLY MAKING A SMALL PROFIT ALONG THE WAY.
Sit tight
SDL Price at posting:
45.5¢ Sentiment: Hold Disclosure: Held
