I don't think anyone has claimed 40c is an acceptable offer, I think maybe we're assuming things here in our arguments.
I also do not believe that anyone outside of the BoD or Kobald knows what the offer on the table is, and I suspect that an actual value has not yet been offered and it's likely an agreed ballpark range that they are now negotiating on.
For the record that's just my belief, not based on solid info, but you know, I stick my nose in the wind as much as possible.
From the signed MoU we all saw, I would make the assumption that both parties are reasonably confident they can eventually agree on the terms, including the price, and I do not believe Nigel and his team would ever sell us out.
It's down to leverage and the art of the deal imo.
Sure we might speculate that Kobald would pay up to $5 if they had to, or that AVZ would take $1 if they had to, so who blinks first?
If Kobald is the only one offering, they can offer the minimum.
Maybe AVZ say no thank you and Kobald say ok ok, we'll pay more.
Or maybe they just tell AVZ the offer stands, and now Nigel has to find another trick to play... who knows.
It's ok to speculate on price, but once people start making demands or threats then things are just getting stupid and emotional.
Let's just wait and see what kind of offer is yet to be made. It might be ok after all.