My guess is that the Chinese delegates who visited Australia don't have the authority to committ Guandong to the joint venture. They are probably very happy with what they have seen and have told Jervois management this. But technically, it may well someone higher up in Guandong, possibly even its Board, who may have the final say on approving a joint venture, possibly explaining the confusion.
Regards
SP
amended announcement out..., page-12
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