MOUs are not binding contracts. If I remember correctly, there was nothing in the MOU that supports Shenghe getting a 60% interest in GGG.
Under ASX rules Shenghe would have to take over GGG if it wanted that amount of interest in the project.
If Shenghe wanted to take over GGG then it would have to get the agreement of the Australian Foreign Investment Review Board. In the current political climate I imagine Shenghe would not have a snowflake's chance in hell.
Ann: Greenland Election Outcome, page-49
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