Like you I have a large investment in MOL and the delay is nail bitting. Because until its a done deal anything can happen. With regard to SAFE approval the original Ann; put out by MOL said that the deal should be signed within 3 days of final approvals being met. Being a bit of a conspiracy theorist could it be that Hanlong will only go ahead once they are sure of finance. SAFE only have to advise Hanlong of the approval not MOL, they could have that approval already. In all these negotiations I would think that TCW would be involved. After all they will want the loan repaid, so they may of insisted that the 24th of March is the cut off date or face a further $38.5 mill interest. Giving Hanlong a push along to complete the deal.
This deal is all about the finance, no money no mine Hanlong would have a majority interest in a patch of dirt. Very valuable dirt but no means of bringing it to market. We will have to wait to see if it all goes to plan but I just don't buy the delay being caused by the Chinese New Year.
MOL Price at posting:
85.0¢ Sentiment: LT Buy Disclosure: Held
