drs, I just had a very long lunch with a friend who said exactly the opposite.
He tells me hedge funds modus operandi is very straight forward. Once they know they are in a position of strength and smell blood & vulnerability, they will pounce in unison.
Forcing HanLong into a revised bid to "recover" the loot and possibly a final bid declaration to the hedge funds is a zero-risk proposition as they know the Chinese are cornered. They can't simply withdraw from a prized asset that is seen more or less as a potential salvation to their inability to dictate anything in IO pricing.
He tells me the HanLong scare tactics is passed it's used-by-date as any bluff about delaying tactics is all BS given most of the delays (8 months of it) amounted to the FIRB witholding the approval due to the ASIC decision.
In other words, (as we now see China / CISA) is the one that has been "delayed by HanLong" thanks to their boys caught with the hand in the cookie jar.
The Aficans jave been the collateral damage of HanLong's scam and China has suffered a big setback in terms of goodwill and opporunity cost (a 12 month deferral of teh development of the Sundance resources).
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