The main issue will be the Tanz govt in lockstep with the Chinese govt due to the ‘investment’ they are making in Tanz. China is not actually investing in these countries they are purchasing alliance and obedience. That will not be broken by a legal technicality or disgruntled shareholders. Shenghe own Ngualla now, the only issue is how far can they be pushed on price before Tanz steps in and Peak find themselves at the sharp end on an expiring licence under the guise of unacceptable delay/inaction.
That process of delay could cost Shenghe, so they might prefer the simple pathway of an improved ‘take it or leave it’ offer.
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