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Business Description: Sundance Resources Limited (SDL) is an Australian-based international iron ore exploration and development company which is developing the Mbalam Iron Ore Project in the Republic of Cameroon and the Republic of Congo in central West Africa. The Mbalam Project is being developed by CamIron SA (SDL 90%) and Congo Iron SA (SDL 85%) in partnerships with the Governments of Cameroon and Congo.
Strategy Analysis: Management is looking to position SDL as the 'first mover' iron ore project developer in West Africa. SDL owns 90% of the Mbalam Project and is working to attract strategic product off-take, construction and financing partners in the development of the project. SDL is targeting to commence operations in 2012.
Sundance Resources reported negative cash flow of $11.03m for the quarter ended 31 December 2012. Operating cash flow for the period was $(10.89m). Payments for exploration and evaluation were $(2.44m). Investing cash flow was $(23,000). Financing cash flow was $(113,000). Cash in hand at the end of the quarter was $36.2m.
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