They would have closed the HKHE deal of HKHE could have raised the money. It wasn't the company who made that choice. Just like they would have closed the Chinese deal already as they expected and targeted.
Trying to frame this as some management patience strategy is garbage. You are 100% incorrect on that.
It is pure luck the first group was unable to write a check after nearly a 1 year exclusive and a several month extension. Had they written a check the present deal would be in due diligence, they would be proceeding with a NIoStar IPO to raise the rest of the BFS money. Instead we are looking at a potential better suitor who the company was unable to close and is now trying to in the 4 month exclusive extension.
If this fails and another suitor comes along its not because management purposefully arranged it, it would be out of necessity as they have to have financing to further advance the property to completed BFS.
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