RE:RF has started the bidding process for Platreef There is no "bidding process". Why would Zijin and CITIC, agree to sell Platreef? You're talking as if RF, with 13.4% of the Company, does whatever he wants, and Chinese state miners with over 40% just rubber stamp his decisions. I suppose anything is possible, but with PGMs now so scarce, I find it hard to believe the Chinese would just throw away Platreef for small change. It would make more sense to hang on and develop it when they're ready.
A spinoff is possible, although you still end up with the same players deciding how to finance. The NR says they're exploring options. That's all it says. They also said that three years ago. They want to remain flexible without making any specific promises. Which makes sense.