RE:Passendro to be sold to the ChineseThis article mentions Axmin as a prospective takeover candidate by the Chinese:
https://www.minesandmoney.com/blog-item/blog-the-changing-profile-of-the-chinese-investor-qa-with-bhagyesh-dash-bromius-capital/
In this respect it is important to appreciate the growing role of Hong Kong as a source of mainland Chinese capital for mining projects. According to estimates, in mid-2012 Hong Kong banks held US$87 billion in renminbi deposits demonstrating that it is the pre-eminent offshore renminbi centre in the world. US$87 billion is a lot of money and Hong Kong is the logical place for these funds – free capital flow, stable currency (albeit pegged to the US dollar), proximity to China and low taxation which provides a platform to maximise shareholders value. Hong Kong also offers a familiar and well developed legal and regulatory infrastructure which is another reason for Hong Kong attracting a growing number of mainland Chinese institutional and retail investors.
Therefore, we believe that you will see a growing number of private groups based in Hong Kong actively investing in the resources sector. Recent funding deals announced by TSX listed junior miners – Axmin Resources and Colt Resources with Hong Kong based investor groups are examples of this. We have also recently seen a Hong Kong listed company, controlled by a mainland Chinese entrepreneur, express an interest in acquiring ASX listed Elemental Minerals, which owns a potash project in Africa, in a A$190 million deal, which is another example of mainland Chinese capital being routed through Hong Kong.
Today, what are SOEs are looking for in an investment?
Securing supply of strategic commodities (oil and gas, copper, coking coal, select base metals and recently gold are the favourites), advanced stage projects,