nolly the chinese are still biggest cornerstone holders. Glencore will have less than 10% holding after financing.
Chinese have 3 basic choices:
1. hold for the investment
2. dilute
3. increase for possible corporate play
With no offtake agreements, why would Chinese want to do nothing?
On the otherhand, lets hope glencore don't decide to swallow us for 50 cents in the near future.
financing is here 100% to glencore, page-10
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