RE:Hypothetical In terms of fiduciary duty to the shareholders, remember their marching orders are not just to generate value for us but rather to maximize value for us.
Here's the thing about any future acquisition, the suitor (good chance it is RIO) will have to make nice and play ball with the BoD. Sure, they could do an end around, attempting to bypass the BoD, but in a hostile takeover event the BoD will direct the shareholders to reject - so it would be a total waste of time for any suitor to try to pull a fast one on us.
Yes, the BoD likely has a minimum (likely $10+ USD per share) before they will even entertain the possibility of an acquisition. But, the current PEA to be released and possibly a future one IF warranted would need to unlock the value we are dealing with. At that point, various metrics such as what the normal price per ounce in the ground or NPV per share or other such metric would be utilized in order to iron out a fair price for us shareholders. Let's start with $10 and then double it to take into account the value of the resource. I think most of us would have no problem voting yes to $20, assuming inflation doesn't get out of hand in the interim.