Company Updates

ICC Hearing Completed

UPDATE ON CONGO PROCEEDINGS

Conditional settlement with Congo delayed to 31 October 2024

Cameroon delayed in producing scheduled submissions

Hearing date now set

Conditional settlement agreed with Congo

31 December 2022 Half-Yearly Report

UPDATE ON LEGAL PROCEEDINGS AGAINST CONGO, CAMEROON AND AUSTSINO

Results of the resolution contained in the Notice of AGM held on 16 December 2022 were passed on poll.

2022 Annual General Meeting

Chairman's Address

2022 Notice of Meeting for AGM

Annual Report - 30 June 2022

Sundance advises that the Company has issued a Notice of Expropriation Dispute to the Republic of Cameroon.

Memorial of Claim has been filed at the International Chamber of Commerce (“ICC”) in respect to the proceeding against the Republic of Congo.

The Republic of Cameroon has failed in its appeal against the interim order by the Emergency Arbitrator at the ICC. The interim order, which restrains the Republic of Cameroon from granting exploitation rights over the Mbalam iron ore deposit to any party except Sundance's subsidiary, Cam Iron, remains in force.

AustSino has withdrawn its appeal against the orders issued by the Supreme Court of Western Australia that grant pre-action discovery against AustSino and its Executive Chairman, Mr Chun Ming Ding.

An Emergency Arbitrator at the International Chamber of Commerce has issued an interim order restraining the Republic of Cameroon from granting exploitation rights over the Mbalam iron ore deposit to any party except Sundance's subsidiary, Cam Iron.

The Supreme Court of Western Australia has granted Sundance's application for pre-action discovery against AustSino and its Executive Chairman, Mr Chun Ming Ding.

Results of 2021 AGM held on 28 February 2022

2021 Annual General Meeting

Chairman’s Address

Notice of Meeting for the AGM to be held 28 February 2022

Annual Report 30 June 2021

This announcement is to update shareholders and other stakeholders on the status of legal proceedings.

Sundance has applied for Pre-Action Discovery against AustSino and Mr Ding in the Supreme Court of Western Australia.

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.