50-60% premium to s/p. In my experience this the very very norm...

50-60% premium to s/p. In my experience this the very very norm in terms of T/O offers.

people need to realise that no one ever paid full NPV for a project if they do they're usually not smart investments.

Unsure whether this was the 1 T/O offer which was non binding which is now a formal offer or if it's the preferred outcome from the 7 on the table.

irrespectively it opens the door for the counter bidding. anything over $1 is 1000% ROI so won't lose too much sleep.

always more money to be made taking things further down the track. that's the case since you start as an explorer. what you also take is more risk and that's why things trade at discounts to their NPV's.

The T/O is fair in the sense it's about where you'd see 90%+ of offers land in my experience since investing.

may not be the final outcome either, but im hardly complaining about a 60% re-rate inbound and almost locked in value at that range.

going to be an interesting few weeks.

SF2TH