I have no doubt that as at the 17th July there was no doubt that Hanlong genuinely had no intention of trying to renegotiate the deal lower.
But, as I have said all along, Hanlong are rank amateurs and don't know how their own government approvals work.
It appears that NDRC have made their approval conditional on the price being $0.50c, not $0.57c.
Of course, this was predictable (because I predicted it), and anybody who was privy to that meeting should have also understood that just because Hanlong had no intention of renegotiating, didn't mean the NDRC would have a different view.
SDL Price at posting:
33.5¢ Sentiment: None Disclosure: Not Held
