nmaycock,

A. They don't need to spend anything, that's the piont. I will paraphrase what I said earlier, if they can't find an acceptable JV partner, they can back out and it won't cost them a cent. Further, they have almost three years to make that determination. How could they ask for a better deal?

B. Why was this gem of a deal served up on a platter for LBSU by Briscoe? This is just conjecture on my part, but I happen to believe after observing Briscoe for a few years, he is an upfront guy who is CEO of MEO and is doing his extreme best to further the interests of MEO and it's stockholders including himself. If you consider that naive, so be it.

C. Lastly, that phrase is just a manner of speaking to describe my surprise at why you could criticize what I believe is a "puffball deal". But, good luck to you anyway in your investing endeavors.