not really a major strategic partner as billed

Quite a disappointing outcome I would say.

Note that CZA (Coal of Africa) recently did a transaction with a genuine International Strategic partner from China raising $100m at 25p.

The CZA shares are still trading at a 50% discount to that recent transaction.

This transaction looks like a Minor Domestic partner in South Africa and makes one wonder what did the Majors not like during their Due Diligence process ?

Furthermore given they have their own problems at the moment one wonders what has impelled VMR to rush into this transaction ?