It might do us all well to take a breath and step back from our panic that we have missed our time line and something is wrong.

We are also quick to blame Kry and Fung for all our problems when they delays may be more China's fault than our own.

I suggest anyone who thinks our deal delays are unique do some DD on Selwyn Resources. (SWN) They started their JV deal with a December 14th 2009 PR stating they had executed a binding framework agreement. http://www.selwynresources.com/en/news_2009.cfm

They had a follow up PR on March 2nd 2010 with a statement saying they were extending the exclusivity period and that they were still targeting May 2010 as the closing.

The next PR came on July 8th and that followed with an August 18th PR stating they had closed the transaction.

August 18, 2010

Selwyn Closes CDN$100 Million Joint Venture Transaction with Chihong Zinc & Germanium

Selwyn announces that it has closed the CDN$100 million joint venture transaction (“the Transaction”) with Chihong Canada Mining Ltd. (”Chihong”), an indirect wholly owned subsidiary of Chihong Zinc & Germanium Co. Ltd., a Chinese company. The details of this Transaction were previously announced on December 14, 2009 and March 2, 2010. (read more...)

If you read through the PR's you will see that it was the Chinese that waited for regulatory approval. China is involved in deals all over the world right now. LC and KRY may be life and death to us but to the Chinese we are just another deal.

RM has said many times that everyone involved is eager to get this completed. I don't doubt that for a minute but I don't see how anyone can make any government regulatory body move faster because we want this done right now.

I certainly don't want it to take as long as Selwyn's deal took (8 months) but the end of the 4th quarter is 7 months since our primary binding agreement was signed.

My fortune cookie suggested to me Oct. 15th weekend and it was a very good cookie. I will wait these next 2 weeks for a PR and hope the cookie was right.

JJ