The upside will prevail, page-2

If only they had adequate contingencies in place ....

To think the funders mandate changed on a whim is a bit misguided. It was clear they had concerns about the deal hence the number of CPs in place it was in other words not a done deal. The fact they belatedly tried to organise funding last minute shows how misguided they were in thinking the options would be excised.

I suggest if the project is so appealing they would not have accepted such a conditional offer of finance in the first place. I would expect all interested parties smell blood in the water and do not expect a better offer to be found. That being said the SP is such that a fairly bad finance deal has likely been factored into the SP. one thing mgmt could do is own up to their mistakes which have cost shareholders many millions of dollars.