Angor, earlier I made the point that the Chinese were always going to announce the "handing over" by HanLong of Sundance to the rightful and pre-destined owner (CISA - Chinese Iron & Steel Association - representing the LARGEST STEEL MILLS in the WORLD).
I maintained that would happen immediately upon the SDL deal being done and dusted where the COMMUNIST STATE SHEEP in PRIVATE CLOTHING would be revealed (without any further considerations or need to maintain the facade) to the indignation of those who thought cash-strapped HanLong who toyed with Sundance like a rag-doll is in fact the mighty Sovereign fund of the People's Republic of China afterall.
Hence, the relevation at this point is pre-mature IMO. The ONLY plausible and logical explaining is to flag to the market of a new funding paradigm resulting from the STATE ENTERPRISES involvement.
The Chinese afterall do care about perception to an extent. It would be ludicrous and BAD for Chinese credibility in the FUTURE for HanLong (the Sichuan Pauper) who turns out to have the witherall to outbid anything coming our way when they earlier struggled to secure funding and held our heads under water until they got the board to SURRENDER to their "reasonable price" threat.
SDL Price at posting:
37.7¢ Sentiment: None Disclosure: Held
