Richard has no need for money.
His gross income from all areas is millions of dollars a year.
However, a place on the BOD of FQM would be attractive and continue his legacy. Also, it would be much less burdensome. Pascalls made a promise to the Panamanian Government to work with PTQ as opposed to the HT/takeover approach of Inmet. If something does develop I imagine PTQ will remain as it is a very good vehicle for FCF into large Panamanian equity holders for many years. In any case, large stockholders, including management that itself has direct and indirect ownership of above 25%, will be protected. There has been rumored before about a small cash payment to PTQ stockholders, combined with some sort of warrant to be used after FQM is in production in 2016,when cap/ex is over and money is flowing. This would probably pass muster with a majority of stockholders for many reasons, not the least of which is tax implications. FQM likes to do its engineering in house, but has pledged to work with local businesses in Panama for the actual work. This is similar to their pattern world wide. There is really no advantage to discard the PTQ brand. Interesting topic, thanks for passing the rumor along.
At least this is better to speculate about during the doldrums, than one man's definition of mid-tier vs. another's!! LOL.
AI
