The challenge for the board is to convince holders why accepting a T.O when you have been saying (since June) you have $3.5B of indicative debt funding from ECA, DFI and commercial banks (with Standard Bank's balance sheet backing) + African governement support and extensions for mining conventions.
All in context of $21/T DSO with an infinite Itabirite resource good for 100 years and an EPC rail/port to unlock the IO riches across 4 countries ?
Tough one especially if the IO spot price start rising again to those $90s level.
SDL Price at posting:
3.4¢ Sentiment: Buy Disclosure: Held