very far from finalised

Hi All.

Reading a couple of reports from Finance Eastmoney.

This is very far from a done deal.

Hanlong only have secured enough for getting SDL.
It seems like there will most likely be another 3 or 4 other companies being brought on board to finance the over all project for rail and port.
Quote: In this regard,Group Chairman Mr O'Hanon's set the tone is"just to lie,not to do everything",meaning O'Hanlon need to integrate the most advantage of the various units within the industry to cooperate to develop the project,while the Chinese dragon does not total holding position.unquote.
Development of about 50 years.Annual production of 50 million tons,ranking fifth in the world.
Will create at least one million jobs.
The region to be the third-largest in the world.
Talks of Tata,Mittal,POSCO etc.

As I said during the last week about a share consolidation putting Hanlong off and getting interest from Hedge Funds Etc.
Because SDL went from 20 cents to 68 cents at the end of 2010,Hanlong terminated negotiations with off talks with the Ken Talbot Estate.They changed their minds about acquisition of SDL.

In order to get Mubarak (Mbalam) control of iron ore,mining does not require Sheng Danshi (SDL) O'Hanlon's board seats,and deliberately (transmit information to the market),The purpose of holding only a financial investment in order to cool the market expected,the lowest price Sheng Danshi when the Australian dollar fell o.3 per share.

2011,April iron ore mining rights on Mubarak (Mbalam) negotiating reduced to two or three,including two Chinese dragons and other Chinese steel enterprises.

Xiao Hui said that the purpose is not to win Shengdan Shi Sheng Danshi itself,but rather access to Mubarak's iron ore resource integration platform surrounding the project.Chinese companies control only through the transport and infrastructure,will not be controlled by others,in order for the local Chinese companies in 100 million ~ 200 million tons output of iron ore to provide the conditions(at present,China imports about 650 million tons of iron ore,100 million to 200 million tons annual production capacity equivalent to all of China's total imports 30%.

And we are being sold at $0.57 cents to supply 30% of China's iron ore needs,A JOKE.

Merrill Lynch and Deutsche Bank on board as financial advisers on a daily basis on Sundance Resources stock analysis told Hanlong.
Between May and June,several large foreign companies had begun to buy Sundance Resources shares,is likely to issue tender offer.Chinese Dragon Mining Company as soon as possible into substantive negotiations with Sundance Resources.

Tender offer.
July 13th 2011.Sundance Resources company's chairman,managing director,and general manager of business visited Hanlong Headquarters and said they may accept one of three options.
The first program is the only bilateral cooperation at the project level,each having Mbalam iron ore 50% of the shares. The second solution is to get Hanlong about 30% of the shares,but still only 50% of the project level,the team from the Sundance Resources operations management,infrastructure controlled by them,(and the company's cooperation with domestic steel prices mode).At the same time to do a more than 51% of the company issuing,O'Hanon received a relatively high premium,but to provide nearly $4.7 billion in total project financing.The final program is a comprehensive offer,acquired 100% of Sundance Resources,the city back its privatisation (not sure what is meant by that).

July 15th offer of another 5 cents per share to issue a formal tender offer,and in the program to retain all Sundance Resources management. That got approval from SDL Management.

Subsequently,Sundance Resources said in the announcement the bid did not reflect the true value of the company.

The $1.5 billion for the acquisition of the first phase of investment in capital and $4.7 billion will be completed through self-financing and loans.In addition,the Group has with the National Development Bank,China Export-Import Bank entered into a strategic partnership.CBD has been Sundance Resources equity investment in the first provided a $200 million "in-warranty credit" in the form of loans.

Chinese Dragon Mining only concern is how to perhaps the identity of private enterprise,to obtain the support of relevant Government departments,and in the future to attract more partners to complete the region's total approximately $20 billion (about RMB 129 billion)of investment.

In another article Hanlong said once Sundance Resources is taken over they will have the World's third largest undeveloped iron ore district.

Because of their interest with Sundance Resources they do not have enough cash to go further with Bannerman Resources.

Regards
Westcott.