are hanlong going to announce partner, page-35

And whos to say a JV agreement wasn't close to being signed with a State Owned Mill before Hanlong crashed the party with its 50c bid?

GJ said it himself, Hanlong has to up the bid and drop the conditions.

Besides - the MARKET is who you should be listening to, it's saying the deal is pretty much dead. If Hanlong had the term sheet in the bag, being 2 weeks away from its deadline, the share price should be in the 30c's. Not sure you've noticed Sundance generally leaks as most Chinese finance people seem to be in the know on this deal.