RE:Somebody likes the shares enough to trade cash flowI agree, FVAN has to confidence to buy back the royalty, and the NSR holder gets shares that they have to hold for 4 months. They must have confidence in the share value plus they will get access to cash sooner (if they decide to sell some shares) than if they had to wait for a mine to be operating.
The other benefit is now FVAN can turn around and sell some future production to raise cash if they need to (without further dilution). To some mining royalty/streaming company, or to anyone who wants to lock in a future supply of vanadium.