Even in a worst case scenario SD go for full ownership they will have to pay substantially more per share than the current level.
SD may not be as locked in as you think. There is another option. A company can voluntarily de-list and does not require security holder approval to delist. Then it becomes a game of silly buggers.. You might check out for yourself if I am correct.
I believe it would not happen - the optics would be terrible.
Ann: Funding Secured for Coolgardie Operations, page-10
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