I would envisage that the D&C bidding $27.5mn has a buyer...

I would envisage that the D&C bidding $27.5mn has a buyer (looking at the area I would guess Chinese) and they will fip the project across to the new buyer who will see their purchase as a bargain.

So SRK gains by receiving cash and loan repayments that are a multiple of the current MC.

D&C gains by making a profit on the flip.

The Chinese gain by getting a strategic asset at a very good price.

So who loses?

Longer term SRK does but not developping the project over the next 5 years or so.

So a potential longer term opportunity loss for SRK but a huge ST gain which should leave the company with a huge cash pile.

Anyone for a substantial cashback payment to shareholders once the dust settles?

All personal conjecture and definitely imo.

So ST we are due a re-rating while we await the conclusion of this saga.

EB