management sucks? right...that wasn't a particularly...

management sucks? right...that wasn't a particularly constructive post in response to a genuine question.

For what it's worth, the profit on the sale will be in the order of $90M based on a sale price around $130M total and a cost base of ~$10M entry at the time of the SBS deal and around $30M spent on the project. (sorry if my numbers are out, but that is about the order of magnitude)

My view is that management cant 'suck' that badly to triple/quadruple their/our money in 3 years or so.

The reason that the current SP is sitting well below the implied cash backing is that there is a risk that the deal wont go through, in which case the co is left in a difficult spot having wasted half a year and still being in a position of having to raise capital etc etc. Obviously that isnt the plan, and management will be working bloody hard to get the deal done and the money in the bank.