"The value at Kangan on the upside is potentially massive."
I read in one of @cosmoman's links that the Implied Project Value for Kangan is CAD$992 million...
https://secure.kaiserresearch.com/s3/CompanyProfile.asp?ReportID=711428
PIO has a 30% stake in this with zero effort now. One could almost say it has turned into a passive investment. PIO was paid 'loose corporate change' to not have to drill and define a JORC, lodge and gain all necessary approvals and permits, conduct a PFS/DFS, while including ancillary costs up to the decision to mine.
Personally IMO that's just good business and @lockitt's "outlaws who rob a bank and get greedy" was a spot on cracking analogy.
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