dingyi already raising cash, page-15

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.

The above comment may contain errors, omissions or bias
and therefore should not be read by anyone

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that was back in October 2012

But this is from 25th April 2013..

DINGYI GP INV (00508.HK) announced that the company has agreed to place 475 million new shares, representing 16.67% of enlarged share capital. The placing price of HK$0.30 represents a discount of approximately 18.92% to today's closing price.

The maximum gross proceeds from the Placing will be HK$142.5 million. The maximum net proceeds from the Placing will amount to approximately HK$140.9 million which is intended to be used for funding the partial payment of the acquisition of the Australian mining firm Elemental or other possible future investments.

http://www.aastocks.com.hk/EN/News/StocksNewsNotice/00508.html