The prospect of a takeover now is interesting. The value, NPV, as per DFS is roughly $5 billion. Our market cap now is about $100 million. Because shareholders have reached the point where they will not believe anything will happen until it happens, there must be a good chance one of the big boys (eg, BHP, RIO and a few others who can afford it) could pick us up quickly with a $500 million offer - if they wanted us. My opinion, is that such an offer would quickly get a majority holding (over 50%) but there might be some difficulty getting the 90% needed to force absolute ownership.
How many here would accept an offer of 40c to 60c?
Timelines, page-31
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