Yes they are leaving it to the last minute, will MOL enforce the conditions thats the $45mil question.
They really have no choice, they must stand by the agreement, or come back with a rock solid time frame for finance. In any event they have to put it to minority shareholders.
Although I would like to see finance approved, it would not be a catastrophe if Hanlong fail.
MOL can take its time arranging the finance as conditions improve, ramp up the iron ore production and build the bank balance.
MOL Price at posting:
$1.15 Sentiment: Hold Disclosure: Held
