Who knows what the criteria of each predator is. Logic generally...

Who knows what the criteria of each predator is. Logic generally speaking expects ML to be issued before takeover attempt. That is probably a commercial decision by a commercial miner. The Chinese are more strategic in their thinking so looking at 10+ years ahead (guess) to anticipate their future hunger for this energy source. They drew first blood which is a notification to the market that they are looking for good assets.

This action ought to explain to other commercial predators to whip out the calculator and decide if they want to participate. I would expect them to wait for the ML first. I can't work out why the Chinese are sitting on the sideline? Perhaps to try and draw out an early predator? Cameco is not shy and have started the auction process with their target. U spot is up 3 weeks in a row, Japanese PM is U biased and would probably start up the reactors currently shut down. I would like the ML now. :)