My view is, and has been for some time, that the Chinese will be happy watching on as SDL implodes. This doesn't mean they have no interest in the project going forward.
From a corporate viewpoint, SDL is a mess. Disjointed share register, the Ukrainian with a large equity holding, convertible note holders as far as the eye can see. MOU's & partial off-take agreements swirling around. All rather complicated for anyone assessing a take over.
Why would the Chinese bother trying to take over or finance this when they can let it die, scoop up the tenements, and start afresh with a clean slate when the dust settles?
There's not real time pressure here, IO prices are low and no one else will fund the project. The Chinese will be happy to wait it out IMO.
Cheers!
SDL Price at posting:
0.3¢ Sentiment: None Disclosure: Not Held
