Questions indeed...How will CGNPC establish their 10% holding...

Questions indeed...How will CGNPC establish their 10% holding for a start? They no doubt already hold significant stock through nominee accounts but at last look there was still about 9-10% free float. One possible scenario could be that they've offered the Nab gov a 10% stake in the event that CGNPC are successful in taking out KAH and then take out enough of EXT to take control. The Chinese are not in a position to offer anything to anyone unless they are able to facilitate a significant change of ownership, and the Namibian gov are treading dangerous waters if this is in fact what is being discussed. Which ever way you look at it, it's further evidence of just how desperate CGNPC is to get

I've learnt through experience with EXT that anything involving reported Nam Gov involvement needs to be treated with a grain of salt (remember the Russian offer to invest $1billion to develop Husab.)

I also cannot see Rio, BHP, the Indians, Cameco, Areva or indeed the Russians standing for any 'back room' shenanigans if it resulted in an opportunity disadvantage. Either way, the market clearly likes this news as the stock finished on it daily high.

Bottom line is that the Chinese have to own something before they can offer it to the Namibians. If they are indeed in close communication with the Nab gov, and if they for example, were to get advanced knowledge of the ML timing before the market(or at least before EXT)...heads would roll.

I'd be keeping a close eye on the top 20 from now on. I don't know if you'd call it news, but this article is a positive revelation of mounting pressure on the Chinese, and therefore on their potential competitors.