kermit, I think you hit it square on the head. I've seen many LOIs fade to dust over time. And China is notorious for shifty dealings. If the PR had confirmed a contract signing with revenue sharing figures, we'd probably have had a momo rally today.
Sadly, we have no way to know the potential of the LOI. But one nice thing about EQBM is that it's not a one-horse show. eg: Red Lake, Equador, Somalialand.
Time will tell how any of these turn out. But Red Lake seems fairly solid among them.
Are there any international business people here or someone with experience in China? My limited grasp of the situation is that this deal will not happen without the backing of the Chinese government (especially because it is a mining contract--basic national resources). If the Chinese government backs it, then it will probably happen.
Given that, does an LOI with a Chinese company mean something different than an LOI with a western company? Has the government already signed off?
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