i am not sure its the management...i know a lot of you will go what? GJ got a placement out of them at much higher pices from memory. That was a good move to call their commitment.Since then, The iron ore price was all over the place, Europe was going through its death moves, resources went on the nose, the analysts said run for your life, China was seen as slowing down, the bidder got held up in China as the heat came out of the market, Hanlong got into serious trouble and the list goes on and on..dont forget, they dropped the bid price a long time ago and that was a real indication that something was up. Effectively, the stock has been let down slowy,, until the bid was dropped entirely. Imagine what the price would have done if GJ said 'we dont want the bid at all'? A lot of people got some money out of the whole mess, but the long term holders seem to have got roasted. I reckon the company would have died a year ago without him. The company also came back from the brink when the board died in a plane wreck. GJ may still do the impossible and actually find a real Chinese development partner, but he will need funds at some point. There are dozens of companies in this twisted postion now, DML is a classic example. I am sure if these companies finally blow up, it will be super interesting to see who buys the assets and for what price. SDL is still worth over $200m with no way of raising the $5b in capex, so what is it really worth?
SDL Price at posting:
6.5¢ Sentiment: None Disclosure: Not Held
