RRL have basically paid $1,125 per Reserve oz for their 30% share in Tropicana ($900M divided by their share of Tropicana Reserves which is 0.8Moz). That's extremely expensive, and I honestly can't figure out the logic.
Discovery costs for explorers can range from $5-$25 per/oz, so we're talking a multiple factor premium for them to basically buy a share of Tropicana production, but also the costs of production and overheads that go with it.
I don't if other alternatives were considered, but for context the entire MC of Bellevue Gold is less than what Regis paid for a third of Tropicana.
Ann: Quarterly Activities Report, page-85
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