Sundance Resources was last night in talks with overseas investors to secure enough cash to take its Cameroon iron ore project to project financing by the end of next year.

It is understood Sundance is using the London office of investment bank Renaissance Capital to carry out the raising and in the process introduce new overseas investors to the Perth company's share register.

Sundance would not comment, but it is thought the company wants to raise substantially more than its existing cash reserves of about $16.6 million to complete a bankable feasibility study for the Mbalam project and secure the necessary approvals from the Cameroon Government, as well as fund more drilling at the asset and nearby deposits across the border in the Republic of Congo.

Mbalam is being touted as one of the biggest iron ore deposits in the world not controlled by the majors. It has a 2.2 billion tonne resource, including 215 million tonnes of high-grade ore, and will cost $US3.3 billion ($3.7 billion) to develop.

Sundance has asked Deutsche Bank to find a development partner and is confident it can strike a deal before a self-imposed end-of-2010 project financing deadline.

Sundance's shares were yesterday placed in a trading halt at 15¢.