Sundance Resources was heavily traded after the iron ore explorer entered an agreement with a private West African company about sharing infrastructure planned for the Perth-based company’s Mbalam/Nabeba project.

By 1531 AEDT, almost 28 million Sundance shares had changed hands, making it the fourth most traded stock by volume. The shares were up 1.83 per cent at 41.75 cents.

Sundance on Friday said it had entered into a memorandum of understanding with Core Mining about the provision and use of future infrastructure facilities that would service Sundance’s Mbalam/Nabeba iron ore project straddling the republics of Cameroon and Congo.

Core owns the Avima iron ore project about 65 kilometres west of Sundance’s Nabeba deposit and about 42km to the south of Sundance’s proposed rail infrastructure.

“Sundance will advance its discussions with Core regarding the potential for Core to access the Mbalam infrastructure by way of direct investment or alternatively by a haulage services agreement,” Sundance said in a statement.

“Sundance and Core will also advance their discussions concerning other possible infrastructure solutions.”