Sid, I personally do expect that negotiations will take some time but that isn't necessarily a bad thing. This is a minefield of complexity as there are a lot of components that effect not only Sundance but neighbouring mine hopefuls. TO, JV, Noble, strategic partners etc... The issue of regional development sits IMO alongside the tender process. Clearly there is interest and from new parties. Some part JV is already factoring in re Noble and it looks like they are set for something more than a cornerstone investor. Interestingly George mentioned that the hedgies have been in the main replaced by instos and broker houses.
I dont think 1st qtr circa is a delay. SDL indicated that already. George expected a rerate earlier and that is pretty much what happened post plane crash to potential JV.
A tender takes time, it will be the indication of whether this is a green light project or not which will see the instos drive the SP IMO.
Again, who knows...........
SDL Price at posting:
11.0¢ Sentiment: Hold Disclosure: Held
