What happens next at Jaguar Mining (JAG) (JAG.to)?

Over at the earlier post today, along with its three updates, we tracked the story of the supposed, alleged, apparent bid by China's Shandong for Jaguar Mining (JAG) (JAG.to). Now that JAG has officially acknowledged receipt of an offer (though doesn't say from whom or what kind of price) and has also implied between the lines that the offer they got wasn't enough (all that "no further than exploratory" malarkey), what happens now is simple. It's put up or shut up time at Shandong. Either 

a) Shandong goes public and hostile and puts its bid on the table for everyone to see, or...

b) ...this whole episode is bullshit.

Faites vos jeux, mesdames et messieurs. For what it's worth, via unsolicited mails from industry contacts and a quick straw poll of others your author gets the feeling that there's less to this deal, especially any eventual price tag, than meets the eye. Or in other words, i ain't going near this dog.