Baukaw it is certainly a complex set of circumstances. I believe...

Baukaw it is certainly a complex set of circumstances. I believe GJ was hopeful China's involvement would be a positive factor in obtaining the permits. China utilized HL as the takeover vehicle so it's not as if GJ could have progressed with a SOE. Anyone who thinks HL is a rogue company that miraculously got $200m from the CDB to buy Talbot's stake just don't get it. Again given the circumstances any competitors would not surface until the permits are granted to SDL and knowing clearly what the Chinese bid is. The Chinese by constantly stalling on the CDB term sheet (even though they are under immense pressure to wrap things up as African patience is running out) is to frustrate the competition (Liu's arrest ...LOL) but IMO China must now confront the counters head on. You may be wondering why I keep talking about counters. I am adamant the SOE partnership media campaign that began in Dec is a 100% manoeuvre to position China for this eventuality.