only 2nd time in 5 years kar gets below$3, page-14

Swannie,

I hope so.

Apologies for the poor grammar - damn mobile devices and my fat fingers.

Intuition suggests KAR's negotiating position is being eroded by the share price amelioration, correlated, in part, to missed company deadlines.

Difficult to fathom a situation whereby this is reversed quickly.

Strategically the better play getting multi-party interest. Assets of this nature (i.e capital intensive) usually always go up the chain in this game. And for good reason. Better to acquiesce this outcome with a narrow capital base than run the 100 in a hundred Woodside play WHILE raising at ever deteriorating prices (sorry Marwoode but that's clearly on the cards if current business model runs its course).