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BRIEF-Sundance Resources updates on legal proceedings

Published 13/01/2016, 09:08 am
© Reuters.  BRIEF-Sundance Resources updates on legal proceedings
SDL
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Jan 13 (Reuters) - Sundance Resources Ltd SDL.AX :

* Update SDL.AX

* Refers to the announcement of 23 December 2015 in relation to the porter litigation and subsequent requests for voluntary suspension

* Says made significant progress in reaching a settlement with david porter in relation to both supreme court actions

* Anticipates it will finalise the settlement and announce the details shortly, after which it will return to trading on asx.

* Says company is now assessing the impact this postponement will have on the project

* Signing of contract between government of cameroon and Chinese company to construct infrastructure for mbalamnabeba iron ore project has been postponed

* Postponement of the contract signing until market conditions improve and progress on their financing is more advanced"

* Says "postponement was unexpected for both Sundance and the government of Cameroon "

* Source text for Eikon ID:nASX1Jy3R7

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