I can't agree with "selling 10% for $6M is a rubbish deal"...

I can't agree with "selling 10% for $6M is a rubbish deal" sorry.

That is simply well above a the market value at the time and they did really need the cash. If they had offered it to retail they would have had to do so at a decent discount and the dilution may have been close to double! Instead of worrying about the 10% now in the hands of a strategic investor that wants skin in the game (the best kind, even if we may have preferred them to not be Chinese) you as a retail investor can increase your stake (and future profits) for considerably less! besides the dilution is next to non existent because they increased VR8's stake in the Steelpoort project.

At the end of the day your gains depend on your stake which you get to buy quite a bit cheaper then what this company paid. Don't look a gift horse in the mouth.

And just because the company is Chinese doesn't mean they are going to be a bad partner. Infact the Chinese are really advanced at processing mineral ores and purifying metals, as well as in battery technology which all might be very useful for VR8. A Chinese stake might also mean easier excess to Chinese made machines and technology which are often cheaper. And you can be sure they will actually find a use for the Vanadium whereas a Western partner might have big plans but could be a decade away before actually producing batteries.

So yes I would have preferred a Western partner, but from a business point the Chinese aren't bad. Let's just hope global tensions are at or close to its height and cooler heads prefrail. In that case we are golden.