If ML is obtained Shenghe have an MOU that, in a part of fund raising for Capex. Shenghe may have up to a 60% equity stake and full offtake rights at fair market rate.
This goes a long way toward the projects eventuation.
Under ASX law this doesnt allow much influence in company take over without substantial share holder agreement from the remaining 40% holders.
Theres talk this may be reduced to 49%.
Given Shenghes minority interest in Mountain Pass in the US I suspect theyd be happy to take whatever is permitted.
Ideally as Shenghe is assisting the retrofit of Mountain Pass downstream processing facility in the US. It would marry well if Shenghe would export oxide from GGG to their offshore plant in the US and fill the void the US are looking to fill.
Whatever eventuates its clear Shenghe are very keen to take part in, and confident, that the project will eventuate.
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