dingyi already raising cash

I'm surprised this hasn't been mentioned.

Dingyi issued or may issue a total of $25m ($HK200m) Convertible Notes to four undisclosed investors, at a bargain interest rate of 2%. What is interesting is the reasons disclosed in October 2012.

"Since early this year [2012], the Company has been negotiating with a mining company with principal place of business in Africa in respect of the possible acquisition of shareholding interest in this company and is actively negotiating the corresponding terms of the aforesaid possible acquisition."
http://www.aplushk.com/dingyi/upload/ew_00508Ann-12102012.pdf

Dingyi has been courting Elemental for many months and now the relationship is getting serious.