Ann: Mitsubishi Funding & MoU Update , page-17

There is talk about in the market of smaller companies being take over or M&A targets to private equity companies. Particularly about mines with viable future.
CNQ does fall into this category on most levels, the missing ingredient is just money.
OK as I see it Mitsubishi have no actual equity. They have a LOI and the potential to take a lot of tungsten.
If an offer comes Mitsubishi will stand to lose their capital injection.
With that in mind Mitsubishi need to be aware of sharks looking for a quick dollar. As it stands today the average share holder will bail at .15c maybe less.
So as I see it a letter from Mitsubishi comfirming intentions keeps CNQ close, keeps us happy and sharks all at sea.