It is not quite true that there was "no interest". The news release reads in part:
"While a number of existing and potential shareholders have expressed strong support, the Company has been unable to raise sufficient funds on terms which the Board considers to be acceptable.
Sterling will therefore pursue alternative means of ensuring that the Company is appropriately funded."
I agree the situation is unfortunate, but the game is far from over. Success at Eugenia will go a long way in settling those issues. Failure at Eugenia would be problematic...