Monday , 21 Mar 2011
Key Points
* Hanlong Mining becomes largest shareholder in Sundance Resources Ltd
* Hanlong acquires Talbot Group stake
Hanlong Mining Investment Pty Ltd, through its affiliated entities (collectively "Hanlong"), has become the largest shareholder in Sundance Resources Ltd (ASX:SDL).
On Friday 18th March 2011, Hanlong acquired the entire holding of the Talbot Group 433,791,352 shares which added to existing relevant interests gives it 514,984,194 shares, or approximately 19.0% of the company.
Hanlong Mining Chairman and Head of Iron Ore Business, Peter Mansell, said the investment in Sundance was consistent with Hanlong's strategy to be a significant investor in quality projects in the iron ore industry.
"We're a financial investor and will be a supportive shareholder assisting the company to fast-track its infrastructure and mine development plans."
Hanlong Mining is a subsidiary of Sichuan Hanlong Group, a privately owned industrial conglomerate based in Chengdu, China. (by mineweb)
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