The problem with selling 10% of the project for $20 Million is it values the whole project at $200 M or $3.33 per share. I would be more than pissed at the BOD if they accepted such an offer. I think that would open the door for very loe bid hostile takeovers.

I for one have no problem accepting that, with a solid PEA in hand, a miner would not want 100% of this property for a reasonable price. Don't forget they often pay with stock (or a good portion thereof) so it is not like they are out 100's of millions in cash reserves. The second thing to note is that the value of the project may very well attract the more unconvential miners, the specialists so to speak - ones whose names we are not all that familiar with.

If the PEA shows a NPV of $2B why would you sell 10% for 20 Million? If they go the strategic partner route, the partner will need to put in a fair price.