The PRC is now flagging displeasure for HanLong (one hand slapping the other for misbehaving)...LOL!
We knew from day 1 the floor for price negotiation was 50 cents as per the leak from the original reuters story.
GJ has just up the ante with penalities and potentially ligitation against Han Long. The Chinese government must be wincing at the thought of more delays and another court saga so soon after the Han Long boys fronted court.
As I maintained all the time, the PRC is pulling the strings and is desperate to wrap up the deal. This is especially true as GJ drives home the MASSIVE 50% increase in high grade resource. Surely the Chinese must now valuse it as worth more than $15 BILLIONS !!!!!!!!!
There is no point in saving 7 cents per share and be seen globally (as a time when China is seen to be flouting all kinds of International laws) and be tarnished for all future deals as a country that does not honor contracts.
SDL Price at posting:
33.5¢ Sentiment: None Disclosure: Held
