We are waiting on two announcements the Quarterly Activities, and Hanlong, which will come first???
I am wondering why the Hanlong Ann, is taking so long, any ideas, they have the $140mil from a leading Chinese Bank. Could it be the loan with TCW, Hanlong will want to finalise the debt repayment, so that the $500mil will not be held up. I would imagine paying off the TCW debt would be one of the conditions of the Chinese Banks.
Its Hanlong who have held up the transaction which may well cost the Company $38mil in penalty fees. It will be interesting to see the outcome. The TCW loan may turn out to be a very bad decision. Although we do have all the long lead items in place, but at what cost???
MOL Price at posting:
89.5¢ Sentiment: LT Buy Disclosure: Held
