One thing is certain in my mind - that announcement is a precurser to another. It will effect Liulin one way or another. Either development will hasten, or perhaps Fortune are going to buy MPO's investment.
The latter is what I suspect as at the most recent presentations during the discussion about investments that were core and non-core, no mention was made about China being a core asset.
At the right price a sale of Liulin for MPO would generate a significant amount of cash that could be used to develop some of the core assets of MPO. If that happened the company could then raise some debt for the balance of funds required and may not need to come back to shareholders for more money for a considerable time, thus avoiding any possible further dilution for shareholders.
MPO Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held
