A couple of weeks ago the press speculated that the talks were back on with CGNPC - a rumour that was validated by KAH. They also speculated that the TO price would be GDP2.70 and that the deal would be done as soon as this week (being 2 weeks ago).
Maybe, just maybe Mr H and KAH will not accept GDP2.70 and the relative EXT valuation of mid 9's. He has hung out until now, the investment by KAH was financial only - he does not want to be a U308 miner - so after a resource upgrade, better stripping ratios, and the TO valuations per pound recently published for other U acquistions, maybe he is not going to accept the lower offer as it stood (post Fuki and knocked back by LSE regulators).
So, is the reason there has been no announcements, and certainly not in the time frame speculated by the media, is because H is driving a hard bargain with a company that needs to lock in security of supply - that is so prevalent amongst Chinese Govt sponsored companies - I would say very possible.
I will bet the other global Uranium interests are also watching diligently, if this was an oil province it would be all on for young and old.
The uncertainty surrounding the issue of the Miners License is probably holding down the SPO by $2 as well, IMHO.
Food for thought.
EXT Price at posting:
$8.01 Sentiment: Buy Disclosure: Held
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