I don't think you have to be a brain surgeon to work out that the price of 45c that SDl's board have told us to accept is pretty ridiculous in the current macro environment, where the iron ore price is back at $150 tonne, Indian ore exports has slowed and global markets are surging.
Not to mention that the resource has grown by close to 100% since the original deal was forged at 57c.
Lets not forget that George Jones told shareholders that 50c was too cheap, which was before SDL's massive resource upgrade in last May 2012.
Hanlong are well prepared to pay more, simply comes down to how desperate you are to give away your shares in a fire sale.
SDL Price at posting:
37.7¢ Sentiment: None Disclosure: Held
