I think you may have some bias as you stated that there was no reference to shareholder value - and there was.
Times change and negotiations evolve, that is the nature of business.
The asset may be worth 60 cents or more, eventually when developed a whole lot more. It doesn't mater what its worth, what matters is what someone will pay for it. Is the alternative to leave it in the ground?
How do you know that there is no other party in the data room? Enough said on that one.
I disagree that the Board has been complicit. We went through weeks of arguing about the price. It was under duress.
If we se the forest from the trees - IMO it is ONE bidder, project needs to start. You can work out the rest.
SDL Price at posting:
36.0¢ Sentiment: ST Buy Disclosure: Held