littleblackduck - I completely agree. The fact that Hanlong was...

littleblackduck -

I completely agree. The fact that Hanlong was able to make a bid at all is ridiculous. ASIC should have intervened. If you don't actually need to have the money in order to make a takeover offer then I'm making a bid for Atlas Iron because it's a bargain at the moment.

That said, I think the Sundance board need to accept the blame for the situation we are in now. They could (and should) have never have entered into this agreement in the first place. Their constant extension granting is the reason the SP is now tied to the outcome of this takeover. There is really no reason why it should be. At the beginning of 2011 Sundance traded as high as 59.5c - granted that was around the peak of the iron ore price, but that's before mining permits and resource upgrades.