murchison capital raising, page-41

Classic negotiation tactics 101

That's the clearest indication that China Inc wants at least 50% of the ownership of the OPR and being able to dictate the terms of an equal partner.

It's simple, they will say anything to discredit the BFS so that something gives eventually.

See, time and delays (certainly not the tariff either) is the issue with SMC. They will drag this out for as long as possible to get half the stake. The issue here is they may overplay this game of poker as we don't really know what to expect from Mitsu and QRN.

After getting their fair share of OPR, they will mop up a big chunk of MMX for a stake in JHEP.

JHEP is the prize to Sino from day one when they came to the Mid-West. Weld Range was a consolation prize.