The best thing for PCL would be for WDS to walk away. In the very short term there may be a fall in the SP but that is not certain. PCL could in relatively short term find a new JV partner on much better terms than the WDS option. At the time of the WDS option, PCL's back was definitely up against the wall and the BOD didn't have a lot of bargaining power. If I remember properly this was because the PCL BOD had been too slow in complying with all the necessary conditions to extend/renew the lease. If a new JV partner was to come in now, PCL is in a much stronger position.
PCL Price at posting:
1.6¢ Sentiment: Buy Disclosure: Held
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