It has been anticipated that the deal could not be completed by 31 Dec 2019. It is not a surprise. Only good thing is that ANS badly needs SDL and its iron project, and has to pay SDL $300K per month for 7 months until 30 June 2020 in exchange of SDL shares at 0.0045 in which the issue price this time is higher than previous one plus ANS should issue around !00 million shares @0.013 at free of charge to SDL.
The Trading halt will not be lifted before the completion of the acquisition deal. So we need to wait for another 7 months. This is really painful waiting period for all shareholders.
There is no update regarding China NDRC approval so we should assume that China has not granted the approval to WAPRC to invest in Australia. This could be the reason why ANS now desperately needs SDL.
SDL Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held
