Noble and Indika's interest is waning:
http://uk.reuters.com/article/mergersNews/idUKHKG20800820090226
Today's announcement by Noble that they want to buy GCL definetly crosses them off the list as they won't have the money now. and Indika wont buy at a premium.
The right thing for the company to do is to sell Straits Asia at any price (even the current price), and focus on its metals + Madagascar coal. Madagascar coal still requires further payments of at least US60m if over 200Mt of a resource is defined. They got no hope of finding the money for this if Straits Asia isn't sold.
Also, the deal with SC for the convertible note indicates that they aren't desperate for the stake to be sold.
Good luck to people still holding and waiting for the arbitrage to close - it won't happen because they don't want to let go of their baby.
Noble and Indika's interest is...
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