September 08, 2008

Mr Ken Talbot appointed as non executive director of Sundance board

It is reported that Sundance Resources Limited has appointed coal baron Mr Ken Talbot as a non executive director of the board. The appointment comes after Mr Talbot's investment vehicle Talbot Group amassed a 19.6% stake in Sundance and positioned itself as the company's largest shareholder.

Mr George Jones chairman of Sundance said that Mr Talbot would bring an exceptional track record of success in the carbon steel materials business to the company.

Sundance's flagship is the Mbalam iron ore project in Cameroon, now the focus of pre-feasibility studies and a drilling program. A scoping study completed by Australian based Promet Engineers last year estimated it would cost about USD 2.5 billion (AUD 3.0 billion) to bring on stream. Sundance is also backed by Western Australian multi millionaire Mr Ralph Sarich.

Mr Talbot said that "After visiting the Mbalam site in July 2007 and spending time with Sundance's Australian and Cameroon management team, I very quickly satisfied myself of the potential of the Mbalam Project in this emerging iron ore province. The project is located in a region which is currently attracting strong international interest in the development of major new iron ore projects."

Mr Talbot is the founder and former managing director of Queensland coal miner Macarthur Coal Ltd.