Ann: Northern Minerals enters into $30M equity funding agreement-NTU.AX, page-2

"Huatai Mining, an Australian entity, is a related body corporate of Taizhong Energy Australia Pty Limited (Taizhong Energy), the Australian investment arm of Chinese coal producer Shandong Taizhong Energy Co. Ltd (Shandong)."

From a Chinese nickel company to Chinese Coal company. 230m shares of dilution for A$30m and is this even enough fund stage 1 of the new business plan?
The Jien deal eas $49.5m for 220m shares.
No off-take deal mentioned either. And will this deal need PRC approval again?

I wonder how Shin-Etsu will view this. Doubt a Japanese company will be willing to deal with a company that is majority controlled by Chinese entities.