My response is simply what would their share price be if they discovered Haverion themselves & developed it 100%.
We'll never know but would suggest much more than it is now with probably several large suiters on their doorstep wanting to buy them.
There is also considerable loss of control in the process, you are on the larger partners timetable for development/drilling....if they choose not to drill for a year due to other priorities the shareholders in the smaller partner are left high & dry.
Seen it 100 times before & its not for me.
Cheers
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