Ann: Pilbara Minerals Reaches Agreement with Mineral Resources,MIN-PLS.AX, page-204

Ummm that is why it is called a Net Present Value calculation. Of course year 35 means basically nothing (in fact at a discount rate of 10% year 35 adds 5.7% of that years saving to the NPV calc). The fact that all of the NPV's I gave you above are greater than $50m means the IRR of all of those options is positive. Are you actually trying to school me and tell me I am wrong? This is an assessment of whole of company cashflows. Maybe you should learn a bit more before coming guns blazing that we all don't know what we are talking about.

The only contention imo of the issue is we paid for it with dilution. I would have preferred they raised $50m via a renounceable rights issue to current holders so that we could avoid dilution if we chose and handed MIN $50m in cash. Guess what I doubt that deal would have got over the line. The linking of the companies is more important to MIN than the dollar value of the shares, I guarantee it.