Galileo, I like your thinking. Only problem I can see is that...

Galileo, I like your thinking. Only problem I can see is that they have some sort of arrangement in the contract that any takeover price has to be offered on the value of what is in the ground (maybe I haven't got that quite right?).

HOWEVER, what if they let the contract lapse by not spending their required 5 million in one year? With the contract null and void, they could offer a takeover at whatever price they wanted.