Not dumb at all - it is a real possibility. Yunnan is not doing a great deal in Australia and is also looking at opportunities. They have been exploring around Renison (outside the JV) and there has been discussions with MMG (who operate Rosebery next door to Renison). MMG have strong Chinese connections and could become part of the deal to take 100% of Renison.
Nothing is impossible.
Just my opinion
Ann: Suspension of Operations at Nifty Copper Mine, page-222
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