If the Hong Kong exchange does not change it's decision then...

If the Hong Kong exchange does not change it's decision then what can happen?

I expect that officially it ends the Dingyi bid.

Dingyi will then be clear to make a new bid, maybe at 40 cents or thereabouts, which won't be accepted I would think.

So then ELM will continue alone (for a while), probably raise more capital initially, issuing 50m shares or more, and wait for another bidder or JV offer.

Interesting to see how this plays out.

For all concerned, I hope the Dingyi appeal wins and shareholders get their 66 cents, it's been a long wait.

Gw