Bennett, I say No to a member of board for the natives as am against them owning 10% or more of any project.
As someone here said earlir, ownership means they pay share to develop the company and I say good luck with obtaining that money. If they wany ownership then buy the shares like every one else.

And Cupcake Thank You for posting that Voisey example of 3% royalty. Yes that as a maximum would be fair by me.
Been There, would that satisfy you?

As for buy out offer now, 20 bucks is too much to expect as a start but it better be at least 5.

We would say No and then the haggling could begin.