UPDATE 1.10pm: Shares in Sundance Resources firmed after the iron ore hopeful said it had received a strong response to its calls for tender to build the port and rail infrastructure at its iron ore project in West Africa.
Sundance - which is looking for partners to help develop its Mbalam-Nabeba project which straddles Cameroon and the Republic of Congo - said it was confident an agreement could be reached for the provision of port and rail infrastructure.
"Sundance will now conduct detailed negotiations with each of the tender groups with a view to finalising an exclusivity agreement with one of them by the second quarter of 2014," the company said in a statement.
The company said it would not disclose the interested parties, the number of parties involved or the details of the negotiations, other than to say they included Chinese and non-Chinese groups with a proven track record in building successful projects of significant scope and scale.
Sundance said it was also in negotiations with several groups concerning a possible equity sale in the project and/or off-take agreements.
"Companies committing to off-take will also have the opportunity to take an equity position in the mine or the total project, at terms to be agreed," the company said.
The company also said it yesterday issued tender documents for the second package of project works relating to financing and construction of the Mbarga and Nabeba plants and associated mine site infrastructure.
Sundance shares closed up 0.3 cents, or 3.09 per cent, at 10 cents.