Chinese can act quickly when they want to: On June 9, 2009 CLM put out a press release announcing the deal with WISCO to raise 240 million. A condition listed in the press release was:
"It is a condition to the transaction that closing occur no later than July 20, 2009."
On On July 7, 2009 CLM put out a press release which said:
"Wuhan Iron and Steel (Group) Corp. (WISCO) has received the necessary approvals from the China government in respect of the previously announced strategic investment of $240-million (U.S.) by WISCO into Consolidated Thompson Iron Mines Ltd. Closing of the strategic investment has been scheduled for Monday, July 20, 2009.
On July 20, 2009 CLM put out a press release which said:
Consolidated Thompson Iron Mines Ltd. (CLM) and Minerals Corporation Ltd. of Wuhan Iron and Steel (Group), a subsidiary of Wuhan Iron and Steel Corp. Ltd. (WISCO), are pleased to announce the closing of WISCO's strategic investment of $240-million (U.S.) into CLM.
BG
On June 9, 2009 CLM put out a press release announcing the deal with WISCO to raise 240 million. A condition listed in the press release was: