RE: Not Long Now24 Jan 2024 07:00
It's taken 14 months (and counting) because MC and, more importantly, JM, want a good price. MC has said they could have sold very quickly if they were willing to accept a lower price. Now, whether they get the price that they are looking for is another question, but that's why the sale process has taken so long.
Surrey's timeline may well be correct, regardless if it has come from MC or not. Certainly I think it's fair to say that most of us feel the time has come to wrap it up. There's no point continuing the sales process forever if no higher offers are going to emerge.
Very low chance of a failure IMO. What would that even mean in practice? No sale at all at any price? That seems highly unlikely to me. There is clearly a number of parties who are interested in the project and there are already 3 offers on the table, but possibly not at the price JM would like.
But there are really only 3 options in practice - extend the sales process yet further, choose a point in time, possibly only known to himself, to accept the best offer currently available, or build it himself.
No way he's a miner IMO. That's a long road and he has other things to do. You could argue that either extending the process or accepting a low offer could be seen as a failure, but it's unlikely that either of those would seriously hit the SP, at least, no more than we've become accustomed to already.
It's gone on so long, it's easy to think it'll never happen, but one day there'll be an RNS and that will be that. I'd expect that RNS to say that there is a concrete offer at such-and-such a price, which the BoD are reccommending to investers. On that day, I'd expect the SP to climb to a little below that proposed sale price - a small discount to allow for the chances of the sale not materialising. Thus, you would not need to wait for the whole thing to be finalised and the proceeds distributed if you just wanted to bank the return up to that point.
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