I believe I tried to hint at it b4. My sources in engineering circles said TinCom has been trying to move the project to Vietnam and has been pilfering the relevent info all along. I didn't think it would come to this though because of the announcement only 2 months ago.
I am suspicious of ESI management about what changed their minds in the last 2 months ie what new info do they have now that they didn't have before. Either they just hadn't done proper due dilligence to know if Tincom could fund it (come on! you don't do public signings with politicians etc with out checking this stuff) OR the positive might be that they used the Tincom announcement to pressure the chinese into inking something.
Jury is out - although I just couldn't help but buy a few more options just in case!
ESI Price at posting:
1.8¢ Sentiment: None Disclosure: Held
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