look at the incentives.

Some argue the imminent NMDC buy in price must be sky high. Cooler heads urge caution in the short term.

So who is right? Well look at the motivations. Sharon's position has been cemented in the company by NMDC, during which time she will be expected to add significantly to the sp. As they both will have interests in LCY, Sharon's and NMDC's interests converge. Both will want LCY's sp to head north fast.

I will go out on a limb and draw the conclusion that NMDC have basically said to Sharon, why risk asking for more than the independent valuation amount now when after when we're on board we will support you in letting the sp better reflect everyone's aspirations. I'm sure Sharon can wait a few more months for the value of her share of LCY to skyrocket on the back of drilling and deal making.

Why would she risk squeezing NMDC too hard right now, for no greater reward in the longer term?

As shareholders we will be no worse off in the longer term. Everyone wins.