turning in their graves, page-23

bladerunner

I think that GJ and GC both knew the TO was going to fail last Nov-Dec. A glimmer of hope were the mining permits from both African countries that helped prolong the later termination of the TO.
Now after a long period of thinking and I have come to the conclusion that GJ and GC have indeed done a good job by managing the collapse in such a way that it is China that has more egg on their face in this deal.The main aim of GJ and GC was to preserve the .45c TO benchmark. Any future JV or TO will have to come up to this .45 benchmark.If China would have lobbed a lower bid ,that would have negatively affected this benchmark.
It is most unfortunate that this caused the SP to plummet but our benchmark has to date not moved and will in the future act as a measuring stick.

The other benefit of this is that any new bidder or partner can now enter at a low that would also dilute or weaken the muscle of hanlong (china).

These are just my thoughts and the current SP and trades may validate my assumptions.

We should all step back a bit and let things play out and not attack SDL management for short term movement in the SP.This may indeed be one of the strategies to attract new interest .

GL TW