possible clue to asset sale price , page-25

Bobby, here's another angle.

The SDL board isn't delirious. That $11B (in production status) EV is in the ASX released investor presentation because those are the numbers that would have been visited upon in dicussions with tender participants.

Now, the current maket cap of SDL is less than 3% of that EV.

Considering the multi-billion EPC capex is to be securely funded by binding commercial offtake contracts, the disconnect between the share price and the fundamental economics (of the LOWEST global cost DSO resource) underpining the project (plus real world transaction) is very EXTREME.

There can only be one right (IMO).

Either the market knew 11 months ago that the deal is dead in the water or something funny (I am laughing) is going on.