regarding the JV for SDV, it is difficult to imagine that Posco...

regarding the JV for SDV, it is difficult to imagine that Posco is not one of the potential bidder which has already placed the offer price. Imagine Posco is paying US280mio for a plot of land which has not even done the PFS let alone the DFS, and not interested on the southern piece which is ready to go with DFS done.

I myself strongly believe that Posco is definitely one of the potential partners who has placed the offer as mentioned by AT on the last conference call. AT also mentioned that there are a few more that has not placed the offer but currently doing the DD and waiting for the escrow money from hsbc to be officially banked in, before their offer. Posco is definitely not in one of these few, as there is no sense for them to make sure the money is banked in, as the money is came from them and worst case this money will be transferred back to Posco if the deal is off. Therefore, the remaining partners must be other than Posco themselves.

i think not only Posco has an offer early in the game, they are also the one with most genuine bid (judging from their US280mio for the northern SDV offer). Judging from GXY management normal style that everything is secretive, why AT certainly released the information about still a few partners has not place the offer waiting for the final DD and the physical money being transfer to gxy coffin? Possible that AT is fishing Posco for a much better offer, since Posco knows the reason of the delay now?

going forward, now the money will be in this week, Posco must be nervous if they still haven’t done the deal, what Posco will do? Hopefully they will throw in the towel and accept all the counteroffer from gxy and get the JV done. My feeling is the JV deal is very very close now since the US280mio is in. Whoever is in the final offers must be nervously waiting for the result, and if there is anything left that they can throw in to make the deal sweeter, I will be surprised that they have not done by now. I am still pointing to Posco since they are our new neighbor now and it makes a lot more sense for them to be in JV with us to speed up the development. Exciting time for the next few weeks. All IMO.