Ann: Binding Transaction Implementation Deed with SQM, page-71

Why? are you willing to take on all the risk for CHANCE you will 100-200% your money at $3.50, in 3-4 years? take the offer and move on.

the opportunity cost for tying up your capital holding azure fire that long for a further 1-2x is not worth it.

that is in a scenario you don't see capex blow outs, net risk, resource disappointment or commodity price affecting the SP negatively (which is unavoidable) to think everything listed above will not impact SP negatively is naive.