yes Clark that's what you would expect but the three other shareholders have each bid against each other so they come out with 100% rather than working together to offer the lowest possible price.
Either they want to keep it for themselves which they appear to have the funds to do, or there is a third party buyer waiting in the wings willing to pay more than $62m so they can flip for a good profit.
SRK bid $3.2m for the project and would have forfeited their loan of $33.8m so they effectively bid $37m for the remaining 50% of the project.
so no the project is not valued at zero as SRK believed $37m was enough to win the shootout. But all three other parties believed its worth more as evidenced by their higher offers.
SRK Price at posting:
15.5¢ Sentiment: Buy Disclosure: Held
