The way the world works is that the owner of an undeveloped...

The way the world works is that the owner of an undeveloped asset should be prepared to pay a fair price (penalty) to cash out, de risk. To me, based on this project (jurisdiction, grade, maturity, costs, etc) a 50% discount to NPV is fair.
The .27 number which you keep referring to is irrelevant in large part, although I understand why you keep mentioning it. In short the deal offered is that EGA trades approx 95.5% of Rothsay for 4.5% of SLR's assets. So we do keep some exposure to Rothsay, around 4.5%. Need to be convinced that 4.5% of SLR is an attractive swap for Rothsay, Based on the little I have read on the assets, they are not exactly low cost long life.
Finally, its clear that the "big insto" wanted a liquidity opportunity for its interest and was prepared to accept the 70% discount to achieve this. I (like most other shareholders) already have liquidity so will need a higher price to trade into SLR.

Good bye