Some More Food for Thought - Why is BOA Different?

Over the past few years,IGO has entered into numerous agreements with junior and sometimes cash strapped explorers, whereby IGO will fund ongoing exploration in return for a share of the spoils. To name just a few of the JV's:
Buxton Resources Classic Minerals Matsa Resources Arrow Minerals Carawine Resources
Orion Minerals Rumble Resources Legend Mining Metals X Antipa Minerals Creasy Group (+$5m cash and $15M IGO shares)

In a few of those deals IGO would start with 51% of the project and build up to 70% but with the rest, they started with 70% of the projects in return for their exploration work. Some deals also saw IGO take share placements for up to 19% of company share capital.
So I ask - why is BOA different and only offered a lump sum of $50M upon declaration of a JORC resource instead of retaining a 30% share? From memory IGO purchased Nova and Bollinger from Sirius for $1,800M. Now I ask you - what would be better for BOA - $50M or 30% of $1,800M??

IGO has had Boadicea on its radar for a few years and has now seen an opportunistic time to make a play for them. Both IGO and Mr Creasy play their cards closer to the chest than Kenny Rogers. We still don't know much about Silver Knight and Mr Creasy also holds some well positioned leases above BOA at Symonds Hill under the name of Bolgart Plains. Of course Mr Creasy is doing nothing wrong - he is a private investor and doesn't have to share his news with the world.
IGO has sunk a few deep exploration drill holes very close to the border of BOA's Symonds Hill lease but it would be fair to expect that whatever was found, could be kept under wraps until a deal is done with BOA.
The market has already spoken and BOA's share price is now back to the same level as it was before this offer was announced. I still don't think this offer is a good outcome for BOA shareholders and while it might not count for much, I will be voting accordingly. If the offer is approved, my strategy will be to sell BOA and buy IGO.
IGO want BOA's leases but must pay more than their current miserly offer.