I get it, but lets think about this: why would you pay a premium...

I get it, but lets think about this: why would you pay a premium for a i/o project when prices are at all time highs? If its something they already own and can develop in a short time frame for relatively low cost it could be worthwhile. FEX costs are a lot, lot higher than the big i/o coys. It just isnt too sustainable if/when the i/o price drops.

If they did acquire a new project, there's also the time taken to ramp up. By the time this happens you would be expecting the i/o pricing to cool by then.

If we're talking about a new project for a different resource, sure again but reminder that anything takes time to ramp and the last thing you want to do is overpay for a hyped project/resource.

In any case interested to see what happens!