Well I'm totally unclear then what you are saying, is it that somewhere between 2 and 6x uplift is a shit sandwich or having to actually build the thing and live with it is a shit sandwich?
I guess my point is if you are expecting 10x then that's a long and very high risk road that may fall over 100's of time before you get there (as if you get that kind of value a TO will most likely be off the table unless you got in before the first discovery, even then that's rare and most likely you are relying on the business becoming the next NST etc.), just look at the number of failures in the last 5 years Dacian, Gascoyne, Millenium, Eastern Goldfields jury is out on Calidus; the only one that comes to mind that's done ok is Capricorn and even then not everyone will agree. Like I said it's easy to make a bird in the hand a turd, sometime the bird in the hand is a gift. Comes down to risk tolerance I guess, this isn't and EGA discussion but I was pretty happy with the EGA deal in hindsight, if I got more of those I'd be pretty damn happy.
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