Look, the West has been projecting it's power and creating spheres of influence for generations. Now the Chinese are doing it. Shock horror!
We saw RIO break free of a signed deal with Chinalco after market conditions improved. We have just seen Hanlong use the 'market factors' excuse to change the details of a Scheme.
Moral of the story is, all of the China bashing seems a little hypocritical really, it's just that the shoe is on the other foot now and it's rubbing very uncomfortably on the ankle. Don't think for a moment that a Western miner would not have looked to revise their offer downward if their target was trading at such a discount to the T/O price and market conditions were deteriorating significantly.
In any event, looking forward to how this all plays out and am keeping a close eye out for these supposed other interested parties. You'd think that an unconditional T/O in the low 50c's would get the chocolates if there was anyone out there who was interested.
SDL Price at posting:
32.0¢ Sentiment: Hold Disclosure: Not Held
