westcott, the board has endorsed the Scheme of Arrangement, what more do you want? Do you want a handwritten scroll delivered from GJ and GC to your front door saying the same?
IMO you absolutely fail to recognise the effect of losing the Talbot cornerstone investor and allowing Hanlong onto the register has had, and how that completely altered management's ability to get the company through to production. Applying what you thought would happen when the old board was running the show to the current situation is, in my opinion, just non-sensical and shows a distinct lack of understanding in a few areas.
Top 10 company, 35 year mine life, DSO, maybe 10Bn tonnes, all great research from you, but absolutely irrelevant if the company in it's current form is unable to finance the infrastructure to get the ore out of the ground. Irrelevant. Regurgitating numbers like you do won't help a company with an MC of ~$1Bn and a non-supportive share register find finance for this project.
What do you mean you want the board to come out and say they want to sell the company? THEY HAVE ENDORSED THE SCHEME OF ARRANGEMENT AT 57 CENTS. That is them coming out and saying they support the sale of the company. Do you comprehend? They have endorsed the sale, you just don't want to hear it. Massive difference.
Do you understand that when SDL lost the Talbot cornerstone investor and driver to production, it became more logical and cheaper for interested parties to simply take over the company? Who or how many were interested in partnering SDL before the Talbot stake handover is again irrelevant. There was no need to enter into JV's and what not, just bid for the company and take it over.
You're going to continue to be frustrated because you can't grasp that what IO SDL has is only part of the picture, it's not the full picture. Whether you want to believe it or not, other factors also come into play when deciding whether SDL will get to production.
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