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Sundance appoints new board members; $20m raising

Perth-based iron ore company Sundance Resources Ltd are set to accelerate the pre-feasibility study on development of its Mbalam Iron Ore project after the appointment of mining executives, George Jones, Don Lewis and John Saunders to its board and a proposed $20 million capital raising.
The funds will be used on the pre-feasibility study of the Mbalam Iron Ore Project in Cameroon and for general working capital. Sundance is targeting completion of the study in July 2007.
Mr Jones was previously chairman of Portman Mining Ltd and is currently executive chairman of Australian iron ore company, Gindalbie Metals Ltd.
Mr Lewis was previously managing director of Multiplex Engineering Pty Ltd, he was involved in projects including the $350m Moma Mineral Sands project in Mozambique and the $300m Perth Seawater Desalination project in WA.
Dr Saunders' has been involved in leading project and infrastructure development including a 500,000 tpa steel mill in Vietnam and a 750MW hydro project in Nepal.
Commenting on his appointment to the Sundance Board, Mr Jones said he was attracted by the size and grade of the Mbalam iron ore deposits and their potential to underpin a high-quality, low-cost export business for high-grade hematite direct shipping ore.
"Sundance has been able to secure a unique asset in the Mbalam Iron Ore Project and has now put together a quality management team to take this project forward," he said.
Sundance shares are currently valued at 9.2 cents.

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