I would wait until finance was locked personally. Given the gold...

I would wait until finance was locked personally. Given the gold macro climate this announcement probably won't move the needle as much as it deserves. Taking over a fully financed project would be a less risky move. Eshmun's version of taking it out post construction is less risky again but comes at a cost. If someone noteable who has been there, done that makes the move and backs themselves to get construction done then post finance is the time in my opinion. 50% premium to current is still well below NPV and might get the ball moving even if it wasn't accepted.