A bird in the hand...
toriddog,
Do you want to wait 6 years for payday when the fuel cell technology is steadily improving, and research continues into extracting U from ocean water? Breeder reactors use 1/6 as much U per GW at least in theory. Thorium? Who knows? Another tsunami?
My point is that one day uranium, which I personally believe in as a reliable, safe and relatively clean source of steady baseload power for the whole world, will find itself where oil is now. Squarely in the sights of the Greens, and about to be at least partly supplanted by something newer, cleaner and safer. This is called time risk. We don't know when some big news will kick U to the curb.
I would gladly take the famous $3.00/share today rather than a 10-bagger in 6 years from where we find ourselves. 6 years is almost time to double something much more conservative.
I know there isn't anybody offering even $1.20 now, but if an updated 43-101 shows RRR at 150M lb U3O8, 2 years of a smaller drilling program and cash conservation could easily get us to 3 bucks. We're waiting for the U rebound either way, right? Put your proceeds of sale into Cameco or UPC, ride the U wave, and there's your 10-bagger in less than 6 years, with less risk.
RRR will sell, and not for the 75 cents or so DML is offering. It's too late for a new ratio too; I thought that would be sufficient to sway me and other No voters. Problem is, the DML SP will drop proportionately and the advantage will be lost. The only rescue for this deal is a decent cash offer from DML, and that won't happen. And the more details about salaries, retention bonuses etc come to light, the uglier the underside of this rock looks.
I doubt that I'll change your mind, but I'll say that a Yes vote for the reason you give of a bigger payoff in 6 years suggests that you're a really hard-core gambler. Good luck.