A40 is one of the highest cost producers in the industry and...

A40 is one of the highest cost producers in the industry and probably need a Spod price of US$800 or above to make any margin in foreseeable future.
With the massive debt burden(compare to the size of its balance sheet) and mandatory interest payment, no way it will attract any premium, profit (if any) is minimum 3 to 4 years away.
The company is on the drip, some would said on "life support", even 1 in 20 , GXY shouldn't touch it with a barge pole unless a partner(s) is secured for SDV where excess funding is available.