1): 50% was the previous JV now terminated, it’s no way locked in for any new partner… original target before SSW JV was signed was to sell 35% of the project south basin reserve/product in subscription. I would imagine that (35%) could be the starting point again for the new deal, at the projects current NPV (not the companies MC).
2): the company and the project are two different items in play. The company wasn’t for sale, there are takeover protections in place for the company, the projects NPV is not reflected by the companies MC (currently anyway).
3): this did not catch the board out by surprise, they knew this was a possible outcome (where the confidence in announcement likely comes from) and could have prepared accordingly. We will see how that plays out soon enough.
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