They will be waiting a while considering SDL has $70m+ in the bank and no debts to have to pay off. I personally think SDL could live off that balance for 3 years at an extreme minimum.
All the time they are waiting the price of IO will continue to rise as India bans exports, while risking that the position of strategic partner falls to a competing country, or worse still for China, another mining company. I doubt they would risk it to be honest.
SDL Price at posting:
15.0¢ Sentiment: Buy Disclosure: Held