Let's get this party started!!!!, page-110

so Jinan had a meeting today and formally approve a related party transaction of 140 million yuan (about $27 mill Aus) for a related party transaction (pretty sure not for Triton but for construction in China).

this has been a staged approval and the announcement today included a lengthy legal opinion noting that all the rules and procedures were followed.

my thoughts
- it is clear that jinan has a strong governance loans approval process.
- Jinan are giving out loans
- TON application is submitted
- if the ton application is approved by Jinan management/board then it is likely Jinan will need to submit to shareholders for final approval (normally overwhelmingly approved)
- what was PC thinking with his claim of finance being due in a matter of weeks in June, and then again in August and then again before wet season....I think there have been posts that the loan application was only submitted a few weeks back!!!! I have been thinking of scenarios to be fair to PC but struggle to think of any that don't lead back to the required time, effort, research and relationship investments were not made to understand what was required to achieve the loan. just speculating but what else could be the reason?