I think you're right walbrook. Selling up to 50% of the project should mean we get a cash injection to begin the first phase of construction (rail) as stated in the presentation.
Selling 50% of the company will dilute the equity and hence result in lower sp, which I don't think will gel well with shareholders including the board (whom also hold equities). As best interest goes I think selling a portion of the project is a wise idea, providing sdl with cash for further investments or project start up costs.
SDL Price at posting:
35.5¢ Sentiment: LT Buy Disclosure: Held