Dilutionary development to save Sundance ahead of September smash

STRUGGLING African iron ore hopeful Sundance Resources has struck a desperate  deal it hopes will eliminate its crippling debts, but will explode its scrip in the market to an eye-watering 22.67 billion shares on issue, as it seeks to avoid A$133 million in looming repayments.

Dilutionary development to save Sundance ahead of September smash Dilutionary development to save Sundance ahead of September smash Dilutionary development to save Sundance ahead of September smash Dilutionary development to save Sundance ahead of September smash Dilutionary development to save Sundance ahead of September smash

Sundance is facing an uncertain future.

The majority of the company's 19,000 shareholders will be asked to approval the deal as the company faces a double deadline whammy in September.

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