Company Updates

31 December 2020 Half Yearly Financial Report

Sundance is pleased to announce that it has reached an agreement with the Noteholders to restructure the Company's existing debt and security arrangements.

Sundance wishes to announce that its Board has completed a review of its leadership and management structure following the events of the past six months.

Sundance notes media reports that the Government of Cameroon signed a memorandum of understanding on 25 June 2021 in Yaoundé with AustSino Resources Group Ltd and Bestway Finance Ltd for the construction of the 510km railway connecting the Mbalam-Nabeba Iron Ore Project to the deep-water port of Kribi.

Sundance has referred its dispute with the Republic of Cameroon to arbitration at the International Chamber of Commerce in Paris.

Sundance is pleased to announce it has signed a binding Capital Provision Agreement with Burford Asia Investments, an affiliate of Burford Capital Limited, the world's leading global finance and asset management business focused on law.  

The Company wishes to provide an update to shareholders on Litigation Funding and Short-term Funding.

See attached Company Update for information.

Sundance wishes to announce today that, through its subsidiary Congo Iron SA, it has referred its dispute with the Republic of Congo to arbitration in London under the rules of the International Chamber of Commerce.  

The dispute arises out of Congo Government's unlawful expropriation of Congo Iron's mining permit in the Sangha region of Congo and related rights and interests.

Sundance wishes to advise that following recent correspondence received from The Government of Congo Sundance has decided to delay arbitration against Congo for a further 30 days to allow discussions to progress between Sundance and representatives of Congo.