Sundance slightly down at close

Shares in iron ore explorer Sundance Resources held up well today after the company resumed trading on the Australian Securities Exchange (ASX).

At the close of trading Sundance had fallen 7.69 per cent or 1 cent to close at 12 cents.

Sundance shares had been in a voluntary trading halt since June 21, after the company's entire board went missing in a plane crash in Africa.

Sundance last traded at 13 cents.

More than 65.7 million Sundance shares worth about $7.5 million changed hands today.

Sundance chairman George Jones said the new board of directors - commercial lawyer Michael Blakiston, investment banker Adam Rankine-Wilson, mining industry leader Barry Eldrige and former KPMG partner Fiona Harris - would allow Sundance to move forward on an "exciting growth phase."

Mr Jones said that Sundance had a solid balance sheet with $75 million in cash reserves.

On Friday Sundance reported the receipt of environmental approval from the Cameroon government for the Mbalam project.