Kizo - you could be right. There might not be a black & white yes or no.
There is a detailed definition in the SIA as to what 'NDRC Provisional Approval' is.
SDL may have received something from Hanlong purporting to be 'NDRC Provisional Approval', and SDL are getting some legal advice as to whether or not that meets the definition of 'NDRC Provisional Approval' as per the definition in the SIA.
It is an important issue because the whole SIA hinges on it at this point time, because it is a Condition Precedent.
For SDL to be satisfied that what they have meets the definition and they can say the Hanlong has met the CP, SDL will need to be very, very careful.
SDL Price at posting:
34.0¢ Sentiment: None Disclosure: Not Held
