RE:Reality: the fact that you didn't get a buyout announcement,Agree that the ask may be too much... nobody likes to by somebody elses problems. I think Terry MacGibbon likely didn't want to sell his baby. Nobody likes giving up their first born.
Once he was sidelined it was easier to get the boards to agree on the strategic review = Put TMAC up for sale.
There is no question its a great property but everyone is gun-shy of the problems. Hence there is no quick sale with a premium. Potential purchasors all smell blood in the water. They will let the company sink further before coming in with a rescue bid.Its unlikely to be a premium to the current price.