spiriting away the gold, page-30

To answer your question CW:

A company aims to keep its shareholders happy. The point is, who are the shareholders and what keeps them happy?

What keeps the Chinese government shareholders happy is maximizing production to get gold back to China (obeying all laws, I'm not assuming there is going to be any illegal activity). There will be no point ever paying a dividend if that money can be spent digging up more gold and drilling more holes. The share price is largely irrelevant in that context if they have no intention of selling their stake.

What keeps regular shareholder happy is dividends and a high share price.

I'd support selling a 30% stake, but I'm simply not happy with selling 51% on the assumption that what's good for the Chinese communist party is also good for me.