Even in terms of a partnership etc. Any Arrangement that...

Even in terms of a partnership etc. Any Arrangement that involves some level of equity ownership of the mine, the deal will be priced in at a level well above this price.

Even a 100/200% premium for a J/V etc. where SDL cedes some ownership of the mine will still be considered 'low', yet at current prices is easy money.

I think the only downside risk is if that the world leaves the resource stranded and never mines them. This seems quite unlikely to me, but I guess you never do really know.