It does smell like a buyout offer for the Freida stake - knowing...

It does smell like a buyout offer for the Freida stake - knowing the Chinese it will be lowball as they realise HIG will find it difficult to finance a PNG development especially given the current copper price and financing would have to include a highly dilutive equity capital raising.
Only other possibility is that the Chinese don't see value in developing this project and are walking away which will mean the lease over the property will expire on 30June and the PNG govt will auction it to the highest bidder with HIG getting nothing for its interest that will be forfeited.