Sundance Resources (ASX: SDL) has returned to sharemarket trading after informing investors the Government of Cameroon was still considering the Perth company’s application for an extension to the Mbalam Convention. In the meantime Sundance is continuing work with prospective Mbalam partner Tidfore Heavy Equipment Group on development options for the world-class iron ore project.
Sundance Resources Limited (“Sundance” or “Company”) (ASX:SDL) is pleased to provide an update on the 22 January 2018 ASX announcement regarding the extension of the Mbalam Convention (“Convention”) by the Government of Cameroon (“Government”).
No decision has been made as yet regarding the extension by the Government. Whilst waiting for a decision all circumstances regarding the Convention and Cam Irons mining permit application as per the ASX announcement on 31 July 2017 remain unchanged and the Company, Tidfore Heavy Equipment Group Co. Ltd (“Tidfore”) and China Civil Engineering Construction Corporation (“CCECC”) will continue to work on the development of the Mbalam-Nabeba Iron Ore Project.
The Company are in compliance with listing rules 3.1 and are not aware of any reason why the voluntary suspension of the company’s shares cannot be lifted.
Sundance will advise the market as further information is obtained.