RE:RE:RE:RE:RE:RE:RE:OK, Something going on ?True Sooner, it to a certain extent depends on one's personal point of view that takes into account personal cirucmstances, goals and expectations.
If you are a day-trader, you are concerned about entry and exit points and how long it takes to get to your pre-determined exit price. The traders are the polar opposite of investors, they are only worried about immediate or near-immediate gratification and then it is onto the next big score. To them the concept of "dead money" is frustrating and they tend to have little to no patience.
Investors (at least in the junior sphere) anticipate what a potential buyout price could be in the future and then attempt to time entry points in order to maximize the # of baggers the investment may ultimately yield. Time is a wild card as one never knows how long it will take. It is what I like to call "landmine investing", you get in at a good price and then you wait until the triggers are tripped prior to the run up to a buyout. Set it and forget it, no need to get upset about the timelines, they will take care of themselves.
As for Newmont, you do have to take into consideration the reinvested dividends, so it is not just a matter of the share price in isolation being lower than what it was 37 years ago. As for Sandeep, he is I am sure cognizant of the HNW individuals who have been with the WRN story for a decade or more. Maximizing their value also maximizes his.
Sage advice to Sandeep would be to split the difference: one half for me and one half for thee. Take the NPV (considering the current metals market circumstances & outlook during negotiating) and split it. I"ve said that many times. The NPV only continues to increase with inflation and global monetary demand for gold. Waiting is only going to make the payout that much more lucrative.