sinosteel the partner, page-2

That being said, I believe that Shandong Yuansheng International Trading is a competitor. The Sinosteel is non binding to prevent legal action (ala FMG).

IMO, Cape Lambert will continue negotiations with Shandong after signing a non-binding memorandum of understanding with Sinosteel, meaning there could be a bidding war before a final contract is settled hence the speculation and increase in the share price.

I think this will be the announcement.