GREY:ADEXF - Post by User
Comment by
greenandgoldon Sep 15, 2011 12:41pm
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Post# 19046079
RE: latest news release
RE: latest news releaseExactly. This delay in signing the formal joint agreement is not normal. Compare with Century Iron Mine's recent deal with WISCO. On January 13, 2011 the parties signed a framework agreement. Seven and a half months later, on August 30, 2011, the formal joint venture was signed in Beijing with Jean Charest, Premier of Quebec in attendance. That's what a successful deal with a Chinese steelmaker looks like.
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AXI announced the framework of a deal with XinXing in July 19, 2010. 14 months later there's no signed joint venture deal, and there's no apologies or explanations from company management.
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There are only 2 explanations: 1) the companies aren't working hard enough to complete all the steps necessary to conclude the deal; 2) somebody has cold feet and is purposefully slowing down the process.