Corazon negotiating acquisition by Hanking ?

I was thinking about why the company has been silent regarding a capital raising given their cash position, as in the past they've been quick to tap 'sophisticated investors' when they're running on fumes. This lead me to review Hanking's 2018 Interim Report, released September 19, 2018 which contains the following paragraph on page 14 regarding the use of proceeds from a sale (emphasis is mine);

Approximately 50% of the proceeds from the disposal will be used for the development (including exploration,environment protection and pre-feasibility study) of the gold mine project of PGO (a gold mining companyin Australia recently acquired by the Company) and the rest 50% will be used for the proposed acquisitionsbetween the Company and identified potential sellers, which are still under negotiation. The Company willmake further announcement pursuant to the Listing Rules in due course. If the proposed acquisition couldnot be materialized, such proceeds will be used to supplement the general working capital of the Company(such as expenses for underground mining and purchase of raw materials).

So this was right around the time the last drilling campaign at Mt Gilmore was finishing up. We're now in March, so what's taking so long ? My opinion is the sticking point is the price. The Corazon share price is depressed, hence the spate of announcements last month trying to change that, to no avail thus far. Management can't recommend a sale at what Hanking are probably offering as most share holders would be carrying deep losses. The problem for Hanking if they don't increase any offer is they're looking at heavy dilution if the company has to raise near this price point, so a deal may be forth coming sooner rather than later.

This is all speculation on my part, so do your own research.