possible reason for delay

I was thinking (yes dangerous)

Given that we don't know who vendor is could the delay be because the vendor is involved with a takeover?

A possibility is QGX is the vendor?


OFFICIALS of QGX Limited have recommended acceptance of a takeover bid from Mongolia Holdings Corporation, a subsidiary of Kerry Holdings.

The Canadian-based QGX has been exploring for mineral deposits in Mongolia since 1994 with its two most advanced projects being the Baruun Naran coal project and the Golden Hills copper-gold-silver project.

QGX has valued its total common share capital at about Can$259 million and the offer by Mongolia Holdings represents a 32% premium.

Founded in 1993, Mongolia Holdings is one of Mongolia’s leading enterprises in six major industries, including mining, energy and infrastructure, information technologies, beverages, property development, and cashmere processing.

It is one of the largest private sector companies in Mongolia, with more than 3200 employees.

The offer is expected to close at the end of September and is subject to customary conditions, including receipt of all necessary regulatory approvals, absence of material adverse changes and acceptance of the offer by not less than 66.66% of QGX shareholders on a fully diluted basis.