They are only closer to production if they can secure all the required funding - unless announced otherwise before trade starts tomorrow they have only secured $3m at this point in time - If Minsheng dont provide the rest of the $$$$ they may well be closer to a much less happy outcome -
"Their statement also countered what they claimed to be "material inaccuracies" in the copper hopeful's market announcement on Thursday night. The major shareholders said the announcement implied binding agreements had been formed when negotiations remained underway."