Well, Aves & Fair, I'm sorry but I asked MB, LS and CT this question specifically at the AGM. "It seems we have changed direction from a complete cash out to licensing. Is that accurate?"

MB answered quickly saying not at all. I understood him to say that both could part of a monetization strategy.

Certainly, this was not my initial impression given other previous discussions and other NRs. Regardless, it was my perception that MB and others did a re-take on their initial plan to simply cash out. I believe MB implied he and others had listened to new involved stakeholders (eg AC) and were now considering other options after new, vibrant input from these people.

Nothing wrong with listening and altering plans if deemed more appropriate. My feel was it had nothing to do with no suitor coming to the plate directly after a few initial meetings. These meetings may have even confirmed the thoughts of the new stakeholders. Could be incorrect but thats how I took the discussions with MB and LS.