Jefferies snares $US2b SNE project mandate, page-78

I probably see this all wrong, but the way this is evolving can easily look as if FAR could not get the finance for the SNE development, which imo would not entice WPL to make any move until PE is resolved. On the other hand, I could not imagine for a moment that Meridian or FARJOY would even consider 12 or 15 cps. The Funds maybe and Retail investors would not count for much. To take out FAR all together numbers FAR exceeding 30 cps would have to be bandied about to even come near previous off the cuff remarks by Nic Limb. The good thing is that FAR can be valued at what they have in the bag and after that a premium would have to be applied. But 12 to 15 cps after having reached 13cps twice over the last few years would be a stab in the back.