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FeedbackNews von Sundance
Summary: UPDATE ON CURRENT PROCEEDINGS
• Congo action hearing timing uncertain
• Cameroon hearings expected to be Q2 2025
• AustSino position still being considered by the Board
• Change of beneficial ownership of Hanlong shares to have no impact on the proceedings
Sundance Resources Ltd (“Sundance” or “Company”) is pleased to announce the following updates
regarding proceedings involving Sundance, the Congo and Cameroon Governments and AustSino.
Congo action hearing timing delayed:
As previously announced:
• On 27 May 2022, a Memorial of Claim (“Memorial”) was filed at the ICC against Congo for
the illegal expropriation of the Nabeba Mining Permit to Sangha Mining Development
• Congo has completed a reply in defence of our Memorial. This was then followed by a reply
by Sundance in June 2023. Congo submitted their final reply in December 2023.
Cameroon hearings expected to be in early 2025
As previously announced:
• The first ICC hearing was expected before the constituted ICC tribunal to occur in Q2 2024.
The tribunal is structured with two members and a President.
The death of the President of the tribunal has created a delay in the timeline. A new President is
now required to be appointed. Sundance has requested to keep the original hearing dates (which
were May 2024) but has been informed that this is now not possible. Sundance has requested an
early as possible date for the hearing. Once a date is set shareholders will be informed.
• Sundance and its subsidiary Cam Iron issued a Notice of Dispute with the Government of
the Republic of Cameroon (“Cameroon”) on 16 December 2020
• In March 2022 Sundance was made aware that Cameroon, via the Presidency, was looking
to issue the Mbalam permit to a government or other private entity.
• Sundance initiated an emergency injunction via the ICC to prohibit Cameroon taking action
on the permit.
• An interim binding order was issued by the Emergency Arbitrator on 1 April 2022 which
refrains Cameroon from issuing the Mbalam exploitation permit to any party other than
Cam Iron till either the full arbitration against Cameroon is completed or a full body of
arbitrators reconsiders this position.
• On 16 June 2022, Cameroon filed a request to annul the Emergency Arbitrator's interim
order of 1 April 2022 (“Request”). This Request was heard by the Emergency Arbitrator on
5 July 2022 in front of legal representatives of Sundance/Cam Iron and Cameroon. On 20
July 2022, the Emergency Arbitrator issued his decision, in which he declared that “… insofar
Page | 1
L321315199.1
as the Cameroon Request is admissible, it is without merit and accordingly [the Emergency
Arbitrator] denies the Request in its entirety.”
• On 5 September 2022 Sundance announced that Cameroon had issued a Presidential decree
on 17 August 2022 which issued an exploitation permit over the Mbalam iron ore tenement
to an entity named Cameroon Mining Company SARL. This decree is in direct contradiction
to the orders issued by the ICC Emergency Arbitrator.
• In December 2022, Sundance filed a Memorial of Claim (“Cameroon Memorial”) at the ICC
against Cameroon.
• On 21 January 2023, the Cameroon Minister of Mines, Mr Gabriel Ndoke, died suddenly in
mysterious circumstances. This led to Cameroon requesting a delay in the arbitration
proceedings.
Sundance received a reply to the Cameroon Memorial from Cameroon on 30 October 2023. This is
currently being reviewed and our reply is due the end of June 2024. Currently documents are being
produced and reviewed by both parties.
The hearing is expected to be held in early 2025.
AustSino action still under consideration:
Sundance announced on 11 October 2021 that following a period of investigation, it had applied for Pre
Action Discovery against AustSino and its Executive Chairman Mr Ding in the Supreme Court of Western
Australia.
Following a number of delays these pre discovery matters are now complete.
As required by the court on the issue of the Pre Discovery Action costs have now been agreed and paid to
AustSino for their work required to provide the information.
The Board of Sundance is considering its position before taking further steps.
Beneficial ownership change to Hanlong shares
On the 17 April 2024, Sundance announced that effective from 12 March 2024 the beneficial owner
of Sundance’s second largest shareholder Hanlong Resources Ltd has become China Sichuan
International Investment Limited (“CSII”).
This change has no impact on the current proceedings or any future actions.
Update vom 21.12.2023
Frohes neues Jahr zusammen ,am 21.12.23 wurden auf der Sundance-Website News veröffentlich.
Was haltet Ihr davon?
Velleicht gibt es für uns noch ein paar Taler.
Gruß Destrutto
Antwort auf Beitrag Nr.: 73.798.962 von zipzip am 06.05.23 10:16:24Ich lach mich kaputt:
Mr Ding returned to China in mid-February where, he states, his mobile phone was lost.
Mr Ding returned to China in mid-February where, he states, his mobile phone was lost.
Trading Spotlight
Hallo zusammen ,
die entscheidene Frage ist doch ,ob im tiefsten Afrika internationales Recht ohne politische Druckmittel durchsetzbar ist.
Gruß und schönen Abend
Destrutto
die entscheidene Frage ist doch ,ob im tiefsten Afrika internationales Recht ohne politische Druckmittel durchsetzbar ist.
Gruß und schönen Abend
Destrutto
Danke localsmoker.
....was für ein Korruptions-Sumpf!!
Antwort auf Beitrag Nr.: 71.288.301 von Destrutto am 05.04.22 20:38:31Ich habe viel Zeit und Geduld , wird schon werden !
Hallo Localsmoker ,
das hört sich doch gar nicht mal so schlecht an.
Wir werden am Ende für unsere endlose Geduld velleicht doch noch belohnt.
Gruß Destrutto
das hört sich doch gar nicht mal so schlecht an.
Wir werden am Ende für unsere endlose Geduld velleicht doch noch belohnt.
Gruß Destrutto
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