The big South African investors can't lose here. Dingyi are just...

The big South African investors can't lose here. Dingyi are just waiting for them to submit. It's possible they are already in discussions.

The underwriter wanted his stock badly. There's only 2 reasons for this: Either he is aware that a strategic ptnr is coming in pending a condition or two or dingyi will takeover at say 35 cents. He didn't want all that stock just because of good drilling results.

If a strategic partner doesn't present, then they will eventually accept a sweet enough deal from dingyi.

it is good that dingyi is buying too as it may put pressure on a a ptnr to move quicker as 10% gives dingyi a blocking stake.