better than sdl: market cap $50m drilling july, page-82

Consolidation looks set to continue for access to west african iron ore projects, Hanlong bidding 50c for SDL but market starting to price in a higher offer or something else. Expect continued interest in WGO, EQX, AKI and NTR. WGO was near to 35c resistance today which it has not closed above since early March.



"Sundance Resources Ltd. (SDL AU) surged 9.1 percent to 54 Australian cents. A second mining group is exploring a bid for Australia's Sundance following Sichuan Hanlong Group's offer for the rest of the company, the Australian Financial Review reported, citing unidentified people close to transaction."

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Article from:
http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/07/20/bloomberg1376-LONRJ70YHQ0X01-7J51R2DSKGG7R6C4VHJT5BNQCE.DTL