Hi Arowano, I also sold the vast majority of my holdings as well...

Hi Arowano,
I also sold the vast majority of my holdings as well as soon as I saw the extension (I was originally in on my first parcel of these at 4.4 cents, next at 11.5 cents so was happy to take a profit and cut my risk) ....

In the initial MOU they stated they were after 1) FIRB approval (I previously posted that this was always guaranteed as Aust. always approves such mining investments - provided they are not in the woomera prohibited area), 2) agreement on terms by both parties, 3) approval by Provincial govt in China and shareholders.

I note that the extension changes this to: 1) and 2) then they will pursue 3). Agreed they need FIRB approval before 3) but they had FIRB approval about a week ago and yet as there has been no announcement re 2) 0r moving towards 3).

My perhaps cynical mind thinks that this indicates that the two parties are now disagreeing over the terms? So I Like Arowano will consider my position after the deal goes through or falls over.

having said that I will be sorely tempted to buy back in if they fall back to 11-11.5 again pre-next announcement! today it looks like a fall back to this level is again a reasonable possibility