I find it interesting that a lot of the long time members of the board that urged patience and tolerance for management are now openly voicing their frustration with them. The key change seems to be that ES actually expressed a timeline for a decision on monetization earlier this year. The time has almost passed and looks very unlikely to be met. So where does that leave us.

Frankly it's status quo. Everyone should realize that CF has no interest in actually advancing any of its projects. They are waiting for the next super cycle to make an easy sale. Nothing else makes sense. Do the bare minimum to keep the regulators off their backs all the while diluting the sp to force out the minority shareholders. The last three pp's were undersubscribed which confirms the markets mistrust of management. 

If CF sells SC it will be on Tecks timeline. CF will never ROFO. I think we are already being set up for waiting another year to unlock more value. That will cause a lot more people to leave and then management will scoop up shares on the openmarket when they are cents on the dollar; or worse announce a reverse split sometime next year and watch those shares tumble into the toilet.

I hope I am completely wrong and my lottery ticket comes through next year. However I doubt it. Everything is just my opinion.