In a statement, Sundance Resources (ASX: SDL) said there were no survivors of the crashed plane in West Africa that was carrying its entire board of directors.
Rescuers have found the wreckage of a crashed plane carrying one of Australia's wealthiest mining tycoons Ken Talbott and 10 other foreigners, but there were no survivors, Cameroon's communications minister says.
"The aircraft was located by a helicopter mobilised by the company operating as part of the multi-national air and ground search."
"A team of 10 French Military personnel, including a medical detail, were immediately deployed to the remote crash site by helicopter.
"The company deeply regrets to advise it was informed (early this morning) that there were no survivors.
"The crash site has been secured, with two Sundance contractors and a representative of the French Military remaining with the bodies.
"Given fading light, the remainder of the French Military and Sundance personnel have relocated to the Avima mining camp, 10km away, where they will remain overnight
"The company will recommence the recovery operation at first light."
Sundance's ex-chairman, George Jones told Fairfax Radio, the board had shared the flight as Talbott's private jet was unable to land on the airstrip at Yangadou, a remote mining town where only small planes can land.
"It's unusual for an entire board. It actually breaches corporate governance and obviously relates to the fact they could only get on one plane."
Chief financial officer Peter Canterbury was named acting chief executive of Sundance.