A few observations...........Just a few thoughts;
1. China did not cancel their offer, they extended it.
2. Haywood originally did a fair market valuation of the property and came up with around $2.40 assuming there was not all this BS flying around. But there is.
3. Khan met with CNNC and they decided that due to all of the BS flying around that Khan could not deal with it but China could because they have significantly more power behind them (just like the reason for the purchase of Western Prospector's mine....which was completed at a price higher than it's share trading price.....but probably below the fair market value of the mine).
China could deal with all of the BS but in return Khan would sell them their company for 96 cents, a significant reduction to the fair market value due to all of the BS that China will have to deal with / ignore. THIS WAS THE REASON THAT CNNC GOT THE OFFER ACCEPTED AT 96 CENTS..........due to the the ongoing BS that Russia and Mongolia create. THAT IS WHY IT WAS A DISCOUNTED OFFER/ SALE.
4. With the "steal" of Dornod, CNNC will now have two uranium mines in the same area that they can use for their future nuclear reactor needs.
5. China has been spending all of their US treasury bills on resources worldwide and all of their contracts were completed in good faith (even the Western Prospector purchase). Canada just sold a big chunk of the Alberta oil sands to China.
6. Finally. Think about it. Does anyone really think that CNNC will not proceed with the purchase of Dornod (Khan) at 40 cents on the dollar? Why not? They are not crazy.
Just my opinion, but if I was China, I would not let this deal slip through my hands. You know the Russians are going to try every trick in the book to try to make the deal fail, I know it, you know it, Khan knows it, and most importantly China knows it (that is why the discounted purchase price) . But it won't fail. Just my opinion. Oh, and yeah, Laramide and Compass and other large shareholders must think the same thing or you would see over 10 million shares being sold.
Cheers!
M