Nice post and actually looking at the context of the whole scenario. A failure of the due diligence would not justify a trading halt on it's own. Likely one of a few options at play here to require a halt:
1. Agreement with QQ has changed substantially (stage 3 offer, upgrade stage 2)
2. Additional party onboard in combination with QQ
3. Better offer from another MOU party or new entity
4. AGY standalone Placement/CR done at substantially higher price than QQ agreement
If I had to lean one way or the other I'd say we have a new player offering something up, the original agreement itself would have produced some competition for AGYs business. In combination with AMs tweet about maximising value "not just with China"
All my own speculation here so lets see what happens
AGY Price at posting:
31.0¢ Sentiment: Buy Disclosure: Held
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