yunnan concession

I am not sure how I feel about this new concession. On the one hand it seems a major departure from the company's main game of South American iron ore. On hte other hand, at least something is happening with the company and relatively fast-paced.

My main concern with the amended deal terms are the shortening of ht ebuyout period from 10 months to 5 months. Given that we ar not submitting the expolration outcomes to the Chinese govt for approval until Feb 5, that will mean that we have to make the decision of whether or not to take up the other 39% prior to getting approval from the Chinese govt. I think this is a little imprudent as it will require something of a leap of faith by shareholders on the Chinese govt agreeing to provide approval to a foreign company.

Have I got this right? Anyone else got an opinion on this?

J