Should have read the following part of the news Keep in mind, Hebei will evaluate ADV's submited paper, with high level of meetings which will take time. If u know about mining investment process/evaluation/estimation ... & etc, then u know what I m talking about.
https://www.grandich.com/2013/01/22257/
Remaining $120 Million Initial Investment From Hebei
According to Tayfun, Hebei will have the final FS report in hand no later than January 31, which is the deadline set out in the agreement between Alderon and Hebei. Within 15 business days of Hebei receiving the FS report that meets certain criteria, Hebei will contribute the remaining $119.9 million of their initial investment and Alderon will contribute the Kami Project and relevant properties to the newly formed limited partnership which is owned 25% by Hebei and 75% by Alderon. This means that by the end of February, Alderon will receive the remaining $119.9 million from Hebei. Since I can already confirm, based on discussions with management, that the FS does in fact meet all of Hebei’s criteria, the only thing I can see delaying Hebei from contributing the remaining $120 million by a few weeks is the Chinese New Year, which of course begins on February 10th and lasts for two weeks. Nothing in this industry is ever easy….