Firstly the Sundance deal fell over for a couple of reasons that cannot be compared to Endocoal:
1) The key player was arrested and jailed. The key player here is U&D (AKA Chinese Govt)
2) Hanlong were unable to find funding Funding is not a condition at EOC
3) Sundance was a billion dollar transaction Endocoal is a $70million transaction
4) The Sundance offer was revised and delayed for no good reason, with no suggestion of when the end may arrive Endocoal are sticking to their revised timing and court date later this month - the only reason for the delay was Chinese leadership change and the Chinese New Year, both of which are legitimate reasons.
As far as I can tell, Sundance and Endocoal are incomparable.
If I wasn't so loaded up at circa 32c, I'd certainly be buying more now.
EOC Price at posting:
30.0¢ Sentiment: Buy Disclosure: Held
