A JV is the most likely scenario but a buyout is definately a...

A JV is the most likely scenario but a buyout is definately a possibility due to our low MC.

Would love to see JV then takeover the end result would be much higher

JV = SP goes to 15c+
TO = SP goes to 50c+

500m mc for AVQ is a great deal ( probably too cheap) down this path I'd be valuing it at 1b just for Isobel. Any good decent numbers out of QB and Guada can pile on a heap more $$$ especially if SBM wants a deal

TO (now) = SP goes to 25c

Need to look into tax advantage of script for script. It may be still tax free