RE:RE:RE:Turquoise Hill Earn-ins are a death knell for existing shareholders with the dilution and time frame involved. Listen to Paul again: first, no JVs and he was quick to correct Matt (Crux Investor) this isn't an earn-in. Second, it's not that a smaller footprint isn't an option, but it lowers IRR and NPV. Newmont heap leach? Maybe, but there's no indication they're involved. Also, many companies have internal benchmarks for projects at much lower prices.
Barrick wants 20% IRR at sub 1500 gold, for instance (spare us the 9 paragraph response, Haywood). I'm not saying this is right or wrong, but we have to optimize economics to the broadest audience possible.
Again, IMO our best option today is sell Casino and spinout Ana, Canadian Creek, et al.
I'm firmly against entering permitting as solo owner/operator.