Regarding the MRE, it can be provided anytime, it's simply just...

Regarding the MRE, it can be provided anytime, it's simply just output from the resource model. Obviously, they need alot more drills to ensure it's robustness, otherwise, there would be data gaps between alot of holes and the whole thing could be inferred. It'd be great to incorporate the full 30,000m into the MRE, just monitor the productivity with each ann.

I believe the performance shares structure remains the same, the change to the option agreement is purely related to the shareholding structure of the subsidiary private Chilean JV company which has no bearing to the share structure of the parent company which the performance shares impact.

If it was simply a matter of the extending out the FS time bar by a few months, that easily could have been negotiated, modified to extend the date out and the option of a negotiated agreement to acquire the remaining 20% still remain the same.

It really isn't that complicated. Without speculating on the finer details of such a material change. Like i said. Put yourself in the position of the Vendor. You had the option of an early pay day to negotiate a buyout of your remaining 20% (be it whatever value, for simplicity sake, assume $20 Mil). Under the terms of the new agreement, contribute or dilute!, if TSO decided to commit more capital after the agreed 12 month forward plan, not only did you pass on an pay day of $20 Mil, you now need to contribute 15% or 30% of future capital or risk losing most your stake in the project. If TSO's plan is to spend $100 Mil, you'd be fcked. Means you are just going to be out of pocket. Seems like a bad deal to me, that is unless you had some kind of assurance that no future capital would be expended after the initial forward plan and that there is a genuine chance of an acquisition. It is ONLY IN THIS SCENARIO would the Vendor be better off. People only look after themselves. Follow the money.

Now, fair value is a massive TBA, it is really all down to the size, quality of the resource and the financials metrics from the scoping study. We don't have to wait long, just a few months and we will have our first pass of the MRE & Scoping Study & it's only 9 months till Q4!!!

Only thing we can do is hope every drill from now continue to hit to good stuff. We need this to be big with some good grades.