Why wont SKI buy in now?, page-164

I don't think you are being fair to Vintage.  His quote was:

"The agreements under the binding term sheet (7/6 off-take, modest buyer discount/options or equivalent capital injection) are dependent upon conditions precedent being met, including 'execution of final long form agreements' and securing of finance.

So I don't think any cherry picking is occurring. If the term sheet is conditional on a number of precedents being met some of those have already been met, then the term sheet is clearly dependent on only the remaining precedents (the unmet ones).  As I have stated elsewhere, one of the remaining conditions is finance being secured which is yet to be met.  This does allow the possibility that SKI can walk away from the deal. Again to quote Vintage: "The thread is valid, quite simply, because there is no certainty that SKI will be 'buying into' AUZ. It may be highly probable but it is not certain. No matter how much some people believe it is going to happen (I also think it will occur), it is not certain and wont be until an announcement confirms it.  There is a substantial amount of circumstantial evidence to suggest that SKI will take up their option (refer @pc3 post above) but I have been around in this game too long to attribute validity to claims by others that it is already a done deal.  Death and taxes, JD, death and taxes.