chinese offer 10 days after site visit, page-2

Careful about expectations move, there is no promise of an offer 10 days after visit.

Fromthe announcement on 28/4

"The offer is subject to due diligence, which will start with a six-member delegation visit by Taifeng led by Chairman Mr Song Yuangang, to the Company?s tenements in May.
Taifeng will submit a binding offer within 10 days of the successful completion of these investigations."

The offer is 10 days after the completion of the investigation, not the visit to site. The visit to site is only the start of the investigation.

How long does the investigation take??? who knows could be 6 months could be a year.


Just on another note from the MMX thread see article below. The Yilgarn IP aquisition may be getting a bit more interesting. Combine it with the chinese visiting a couple of sites this could get interesting. All speculation of course but better than looking at the SP

"Source
http://www.abc.net.au/rural/news/content/201106/s3245395.htm

Murchison Metals may sell part of Oakajee

Thursday, 16/06/2011

Speculation is mounting that Murchison Metals will sell some of its stake in Western Australia's Oakajee Port and Rail project

The project is a joint venture with Japanese giant Mitsubishi.

With costs blowing out from $3.8 billion to $5.2 billion, Murchison is under increasing pressure to allow other Chinese-backed miners to buy in, ensuring WA's mid-west iron ore industry has affordable access to a deepwater port.

Murchison said earlier this year it would consider all funding options to meet its obligations to the project."