is the chinese placement really happening?

let me preface this post by saying that I don't want to be alarmist, and I certainly don't "know" anything at all about what is going on at PLT.

However, I do wonder whether the Chinese placement is actually locked down or whether there is still material risk around "due diligence" etc.

I say this because:

a) It is in the company's interests to do the placement at a time when the share price is comfortably north of 11.5 cents (or whayever - i forget the magic number) so as to do the issuance at the highest possible price

b) the share price has been elevated for a number of weeks now, but appears to be slowly deflating

c) the company has not yet taken advantage of the elevated share price to say "snap" and do the placement to the chinese.

all that indicates to me that the deal is not yet "done". And therefore there is still risk of it falling over.

either way, the clock is starting to tick on getting it locked away as the shareholder approval for the placement expires at end feb.

does anyone have any thoughts??