There's no excuse for SBM not to engage now.
Frankly I'd rather SLR scrip. At least they have producing assets with history you can analyse. Most of the value of GMD ex Gwalia is RF's reputation.
To be honest while they are at it SLR should acquire the Atlantic assets. Probably have a better chance of negotiating with the lunatics in charge of NS.
That would then leave SBM as a pure play on Simberi. Run for cash on the oxides and then either bite the bullet to develop the Sulphide project or sell to a PNG exposed peer.
There's no excuse for SBM not to engage now.Frankly I'd rather...
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