The drilling campaign, as much as I have resisted, probably will place upwards pressure as results (positive ones) emerge.
This is because whilst some Chinese suitors don't seem to need more proving up, some do, so there is a tension, those who don't need and want a cheaper negotiating T/O price and those who need more information for their due diligence machinery and happy to pay maybe just a bit more,
the box ticking of proving up is probably then set for accumulation for those suitors most keen. It could be delayed after results--not a knee jerk catalyst--, there'll probably be tree shaking, but will there be more than one suitor accumulating?
The trick for them will be assessing what the other suitor is doing, maybe an offer announced will be the one and only knock out punch, surely they won't want a counter bid appearing. High stakes game, or will there be carve up afterwards by one suitor....time will tell
We know HuaYou have ambition plastered to their walls
We know CATL have an IPO and mega-supply needs
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