The issue I see for SDL is that possible private equity partners aren't going to be doing SDL any favors.
As the original article suggested, the IO sector is negative at the moment and SDL is not in the best of bargaining positions.
If SDL can't secure debt/equity funding over the next 6-8 months, which I believe will be the case, the company is going to be even further distressed.
IMO those people/companies/funds with the money to develop a project like Mbalam/Nabeba are going to be considering the best way to remove SDL and it's shareholders from the equation so that they can hold 100% of the asset. Only then will the returns be high enough to warrant the level of risk attached to investing so much money.
Good luck!
SDL Price at posting:
2.6¢ Sentiment: None Disclosure: Not Held