Assuming that fair value is based on NAV (8%), at this point, would increasing the after-tax NPV by (e.g. 50%) really make a big difference for shareholders?

Buyout could be based on many criterias:

• Current NAV based on 21 year mine life ($210M US)
• NAV increase based on copper at $3.75 US ($120M US)
• Remaining reserves & exploration potential (e.g. $100M US)
• Value of carried interest (e.g. $50M US)
• Milestone payments ($40M CA)
• Other

Assuming our PEA package with JV terms are currently worth around $500M US for our 25%... increasing the NPV (8%) by another 50% would only bump the total buyout by maybe another $100M US? 

If that's the case, waiting 2-3 years after the PEA for maybe an additional 20% does not seem to offer a very good ROI.  

I was willing to wait 1 year for that 20%-30% increase, but now, it does not please me to wait any further.  I'd prefer fair value "as is" and make that 20%-30% elsewhere with less risk.

IMO.

MoneyK