same old problem, page-17

Robworld started this thread with the statement:

"They had originally been talking $2 and above which is why the majority of data room entrants turned their backs on the deal. If they are prepared to look at $1.50 now then I believe we might just break the historical deadlock."

I don't see the relevance of the "share price"- Sphere are looking to do a deal about ONE of their assets- not spruiking for a takeover..... I believe Sphere are looking at joint venturing the Guelb El Auoj project for $$$$ rather than looking for a takeover of the whole company- so share price comparisons are irrelevant...

If a deal is done, a cash injection to Sphere and SNIM (or at least a large free carry of development expenditure) will occur.

The previous deal to the Arabs involved much more money than the current market cap just for the Guelbs- all the other projects are running free.

If a deal is done the company will NOT be taken over, the Guelb project will be progressed - the value of that project will be vastly enhanced.

If a deal is not done Sphere have enough cash to keep going for a couple of years anyway - so then patience will be a virtue for shareholders- the assets will still be there!!!