Perth-based Sundance Resources has appointed Deutsche Bank to arrange funding for its Mbalam iron ore project in Cameroon, West Africa.
The appointment follows the recent submission of a feasibility study to the Cameroonian Government on 9 October.
Exploration at the project has identified two kilometres of surface and underground hematite mineralisation.
Similarly, aeromagnetic survey work undertaken has identified 36 km of prospective iron formation within the permit area.
According to Sundance managing director Don Lewis, Deutsche Bank would provide advice, arrange funding, including debt and equity, and secure strategic partners for the project.
“Deutsche Bank has a strong track record of securing funding for Australian and international resources companies,” he said.
“This is an important step forward for Sundance and we look forward to working with the Deutsche Bank team through project financing.”
Deutsche Bank recently assisted Chinese-companies Hunan Valin Iron and Steel Group and Baosteel Group with respective acquisitions in ASX-listed companies Fortescue Metals and Aquila Resources.