Ann: Oropesa Tin Project Optimisation Study, page-37

What is fair and what will get control are two different things.An opportunistic buyer will have overvalued paper and could easily afford to pay 3 or 4 times potential cash flow which would be $400 million or around $2.50 a share.
But while prices remain at these levels I would not expect a bid of much more than $1.25 which would likely be rejected by management but get a very big position.The sooner a raider moves the better the likely result for them because I expect ELT to attract serious buying as the larger broking houses come on board.
A good comparison is KGL which last year fell to around 10 cents before being discovered.ELT is much more attractive in that the capital costs are much lower and the returns higher yet it is selling at half KGL,s value which has increased five times over the past year.
Please show me another resource stock in the world offering potential $100 million pa returns on a $80 million capex in an established first world mining jurisdiction.