RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:PerspectiveI'm not bashing anyone - hope it doesn't come across that way - although I do question some of the due diligence and supposed facts provided by some on this board. I'm pretty critical when I read nonsense that hasn't been researched. I can say I've done a great deal of due diligence and have a much greater comfort level of what I think is going on. You noted that both purchaser and seller can agree to extend or accelerate the purchase date - that was the key point - not that they will necessarily choose to cancel the contract in 6 months. Also - IVN is very adamant that the 15% stake in Kamoa is a separate issue from the Zijin acquisition. Here are some other facts/observations (based on my research) - please do your own due diligence to confirm/refute this (since I'm not going to list all my sources and articles - it's extensive - I actually had to sift through local African newspapers to get some of the details). 1) Zijin was refused a mining license for attempting a takeover without getting the blessing of the minister of mines 5 years ago. What ended up happening? The state company - Gecamines - took over and no surprize - they threw away billions of dollars in potential revenue from the Chinese because although they kept the natural resource for themselves - they cannot find anyone to finance the project so it's been dormant the last 5 years. 2) DRC is actively pursuing investors to develop their natural resources (they actually have a mining conference in October in Kinshasa where both the Minister of Mines and Friedland will be keynote speakers). The First Quantum debacle exacerbated the perception that DRC is a bad jurisdiction to do business and I presume they are taking measures to correct this perception - there is huge risk on the table for DRC if they pull another First Quantum on IVN - it would virtually guarantee huge capital outflows for their supposed $23 trillion in natural resources. https://www.ipad-drc.com/speakers?pagesize=50 3) Joseph Kabila (DRC president) has made it clear he would like to run for a third term although the DRC constitution won't allow it. There is concern he may find a way to stay in power - which may lead to some of the political risk and instability. That said, parliament blocked his bid to amend the constitution to allow for a third term. So far - he has agreed for a peaceful transition at the end of December 2016 (although others are skeptical). 4) I'm going to argue - the delay tactic by Martin Kabwelulu (the Minister of Mines) has more to do with the revision of the mining code introduced by Joseph Kabila. Specifically, Joseph Kabila has introduced revisions to the mining laws that would require higher royalties, higher taxes, and an increase from 5 to 10% free allocation of any new mining project. 5) Here is the issue (purely conjecture but inferred from a few sources) - Kabwelulu wants to apply this retroactively! (That is, past negotiated deals are null and void - in his mind, this will be the new law after the elections so lets work with this assumption) 6) IVN is calling "bs"...they had a negotiated deal and IVN took the financing risk during a time of civil war and now that they've discovered the largest high grade copper mine - they want DRC to honor the original agreement. The sale of the 15% has been dragging on for years with no resolution. 7) Some local politicians oppose this revision to the mining laws saying this is a move backward (including the governor of the Katanga province - Moise Katumbi - who has helped open foreign investment in his province) ...and there is Joseph Kabila and company that want a greater share of the resource pie. This will be one of many political issues during the 2016 DRC election. Foreign investors are up in arms and they are likely supporting candidates who will block changes to the mining laws in the 2016 election. Katumbi hasn't thrown his hat in yet for the president's seat but would be one of those candidates backed by foreign investors. Kabila knows Katumbi is a potential threat to his aspiration to stay in power, so Kabila threw corruption charges against his former friend and potential opponent as a pre-emptive measure to sully his name before he throws his hat in for formal office. Long story short......... What Martin Kabwelulu is probably saying to IVN is the following (purely speculative but based on research): Kabwelulu: "You secured your mining rights during a time of civil war which at best is questionable. We are introducing new laws which would give us a greater share of our own natural resources. We are not honoring the 15% buyback - we want another 5% for free (which would be in line with the new law that states the government will receive 10% free carried interest). So we want 10% for free, and we'll pay below market rates for the remaining 10% to get to 20%" Friedland: "That wasn't the deal - you agreed to 15% at commercial rates". Kabwelulu: "who cares - welcome to Congo". 6) So this is negotiation 101. From the DRC perspective - they want 10% free interest, and will pay a lower rate for the other 10%. From the IVN perspective, they want DRC to honor the 15% at commercial rates. 7) Somewhere in between there is a negotiated solution! I don't think Friedland is going to throw his relationship with DRC down the toilet over what is likely $30 to $50M bucks given the billions that are at stake with both Kamoa and Kipushi. 8) Assuming they agree to give another 5% free interest, and negotiate some paltry amount for the remaining 10%. The story will read "Martin Kebewelulu and Joseph Kabila played hardball with IVN and secured $50M more for the people of DRC"...in other words - a negotiated settlement makes for great political theatre - Kabila and company get to say "we fought and won additional concessions for the people of DRC". Although there is still some risk - I am feeling a lot better having researched this a bit further and am confident well before the year is out - this will be negotiated with a win-win-win for Zijin-Martin-Ivanhoe. This is part political ploy, part negotiation...and IVN knows this - and knows how to play the game.