sdl valuation, page-38

pricing valuation are pointless. the price will be what someone is prepared to pay for it - its called the free market. unless there is a counter-offer from another party i can't for the life of me see why hanlong would increase their offer - why bid against no-one? I believe the JV discussions are a dead duck which means GJ has two options - accept the hanlong offer of $0.50c or reject it. if he rejects it then he could be stuck with no jv partner so no finance. i think he is backed into a corner on this one because only the chinese have got the money to build this project and the chinese are dictating how they want it done - under hanlong ownership.