RE:RE:RE:RE:On or off?Hopefully Hebei is just using all of the regulatory delays as an advantage to renegotiate the selling price lower. As long as they still go ahead with a deal, i'm sure it will be well above Ian's $1.90 options. The original offer was $225 mil US, so even a new deal for $175 mil US would net about $200 mil US in the end (with cash on hand & after the buyouts / finder fee's ect).
Then if Harrington jumps in & forces them to wind down & distribute the cash:
Thats still +/- $3 cdn / share (thanks to the US$ climb).
If Hebei Zhongbo is tied to Hebei Iron & Steel Co. then they likely have some kind of long term plan & buying these assets at rock bottom may still work from their perspective.
Everything is lined up so this could potentially still happen (Harrington, poison pill removed ect.).
The Chinese could also just officially bail - but that hasn't happened yet (ignoring shareholder dispute) & as far as i can tell they both still have $11.25 million US tied up in Escrow & doing nothing. You would think the Chinese would take that back if they were officially out??? Per Hebei the one shareholder can stop the deal, but theres no mention of the return of the deposit?
Here's hoping Hebei resolves the internal issues & goes ahead with "a" deal.
Would be nice if the Department of Mineral Resources got that last "technical" hurdle out of the way so we can see how this chess match ends.
Guess we'll find out eitherway - hopefully soon!