Sundance Resources Limited (Sundance) has announced that global resources investor Ukrainian billionaire Gennadiy Bogolyubov has agreed to invest A$40 million (US$37 million) in Sundance through a subscription for convertible notes and options.
Mr. Bogolyubov is a strategic investor with a broad range of private industrial business interests, including across all parts of the steel and ferroalloys value-chain, which operate throughout the world, including Australia, Africa, the Commonwealth of Independent States (CIS), Europe and North America.
Sundance stated that the proceeds to be received by Sundance will be used to progress the debt and equity financing of the Mbalam-Nabeba iron ore project in Cameroon.