So say we got a $1b takeover now, approximately $8 a...

So say we got a $1b takeover now, approximately $8 a share.
That's about half the current value of the project as it stands barring any commodity price increases, super pit study, additional resources added, any new drilling success or additional value adding additions.
So realistically assuming we don't see much luck adding additional value, getting about half the value but 5 years earlier without all the risks of getting this project to production seems like a good deal to me.

Even getting to production (unlikely by ourselves) is not guaranteed $16 sp, look at CAI and their disastrous performance after getting their much smaller mine to production. Things can go wrong, budgets go over, we would if trying to finance capex even if spilt with a jv partner likely have to do a cap raise to partially fund it on top of either streaming and or debt.
I would be shocked if we got $1b at this stage, I reckon even $700m might get approved by top 20 as a good return for those that have only held a couple years