Ok here's my thoughts. Some good some bad, but I remain overall...

Ok here's my thoughts. Some good some bad, but I remain overall very positive.

Cons (not all are full cons):

1. Obviously we are still somewhat diluted by this in terms of long term upside, a royalty is less cash in our pocket long term. Lesser of 2 evils of course since mining companies need to explore and raise.
2. The comments above about upside being limited with Taurus poking around refer to a few companies where things have not gone well. In the defence of Taurus, there are some good examples and everyone tends to focus on the negative ones.
3. Not all of this money is available upfront.
4. Read this line below and you can see they've been interested for a while as other posters suspect.
The 0.95% GOR, together with the historical 0.875% GOR over Storm acquired by Taurus from a third party
earlier this year, will give Taurus a total 1.825% GOR over Storm.

And now onto the positives:

1. This is proxy institutional investment. They would not pay for this royalty unless they were sure it's going to production. Also, going into production soon because there's the time coefficient on money. That money gets discounted the longer it's not in production so they are strongly aligned.
2. I doubt Taurus is here to screw us over because they bought the royalty earlier in the year and now want more. If you follow the incentive structure they benefit from helping us get online:
3. Further to that point, they appear to want the right to match any future royalty offers. This means we might see royalty bidding if we need to raise additional cash.
4. We're not diluted for our other 2 projects and it's a very huge premium raised to our current market cap if you look at it that way.
5. Despite comments on here, it seems permitting and studies are going full steam ahead exactly like Dave said and are not delayed.
6. The drilling program is being even more aggressively expanded so we can expect to see even more progress this year
7. Taurus is betting on a MRE expansion as well if you read between the lines
8. Contrary to some other posts around here, insinuating that DSO is not going ahead, this announcement completely disproves that. You won't be getting full permitting approved in the timeframe this deal wants for a regular mine. DSO? Completely possible. The entire deal is obviously structured around DSO coming online.

It's not a perfect announcement, but this is some seriously positive news. Bunn did get one thing right which was that the company needs to be even more aggressive in progressing this and it looks like Dave has come through.