I would like to add a point to your comment here. The article I had pasted mentions that while Jayaweera was a director, the chinese actually sold their stake which sparked the takeover by the NZ owner. Probably helped by Jayaweera? With the amount he paid for Hydromet, it may be possible that FIRB approval process was not triggered. Policy can be found here:
http://www.firb.gov.au/content/policy.asp?NavID=1
QMN value is also quite low and it can be manipulated to remain low. I am sure there is a lot of work going on if TO was in consideration.
It may be possible that the TO will be done by someone else?
QMN Price at posting:
3.8¢ Sentiment: None Disclosure: Held