What is your exit plan?, page-10

takeovers are generally paid at a premium otherwise there is no incentive for shareholders to sell apart from potentially being managed by a better company.

see cardinal resources (gold in Africa) went from being I think 40c to being bought at a $1.20 premium (someone might want to fact check final numbers. needless to say was around 40c to a dollar odd in terms of takeover.

JORC milestone will attract different investors

mine development will attract a new crowd of investors

first gold pour will attract new crowd

climbing these milestones usually results in larger entities taking larger positions in the company as it is systematically derisked.

edit the lassonde curve is also a good tool to use on entry/exit points however I would say PDI hasn't really adhered to this model that well so far probably due to sovereign risk.