Hi Westcott When Jones agreed to 57 cents he said that was...

Hi Westcott

When Jones agreed to 57 cents he said that was reasonable given Hanlong thought they were paying too much & Sundance thought that Hanlong were not paying enough.

Now we know Hanlong's philosophy is deals are meant to be broken if you have the upper hand (which they did in August)

But with all the recent developments (resource upgrade, mining permits/conventions signed, Iron Ore price on the rise, & now India needing a longer term supply solution) times are very very different at the dawn of 2013.

I would suggest that Sundance's position is stronger than when the 57 cent offer was agreed. Now Hanlong have set a precendent for changing the terms of a deal so now it is the right time for the investment banks representing Sundance to negotiate a higher price. 65 cents sounds a good starting point!