Molyneux was pretty open about risks imo, both in terms of the...

Molyneux was pretty open about risks imo, both in terms of the LHM deal not being inked and company strategy more generally (zero offtakes, relying solely on spot and a ST POU resurgence to save company from insolvency)

The company disclosed all in market announcements. Moly made himself available to investors for regular teleconfernces (most MDs don’t offer this level of access) and was clear about risks involved (I joined several of these teleconferences and recall this)

Anyone that held towards the end knew, or should have known, the situation the company was in and risks it was taking to find a new lease on life. PDN became cheap (sub 25c) but potential rewards of successful execution were always huge.

As for ‘contracts being in documentation phase’. What does that even mean, other than whatever hopeful and overly-optimistic interpretation you attached to it? Imo CNNC was prob stringing Moly along at this point, terms agreed in-principle but not signed on dotted line

At end of the day PDN was negotiating with Chinese from a weak bargaining position. And CNNC was shrewd and ruthless. I lurked this forum at the time and most posters understood this as a stark ‘all or nothing’ risk-reward play