I doubt that will work, because hanlong is dumb enough to pay...

I doubt that will work, because hanlong is dumb enough to pay 75c per share so $45m is only partially subsidise their loss. Other holders will loss that cash to subsidise hanlong. If hanlong get $45m shares will drop so more paper losses to hanlong too. Hanlong won't leave mol's share register. Then hanlong might (in my view) use the rest of cash to purchase project hanlong wants to offload at massive premium price. Once control the board the rest of money is in danger because hanlong can get mol to overpay hanlong's project they want to off load. Alternative, after $45m taken mol still has cash backing 11c, moly project (doesn't worth much) and stockpiles (worth something), mol board (control by hanlong) might pay special dividend to liquidate the company. This will minimise hanlong's losses. Hanlong's sundance done really badly at 7c. Interestingly General Moly in USA actually approached hanlong after they heard mol's deal with hanlong and they want the same deal. In my view is if hanlong is smart (they done badly with many investments) they should work with experienced board to purchase good project and get sp back above 75c (hanlong purchase price) to get money instead of turn negative.