MGT TAKEOVER?? TARGET 4B Tonnes iron ore, page-466

I am really struggling to see the hype on this stock. My concerns are:

1. Cash in the bank
2. Just starting prefeasabilty (Years aways from production)
3. Iron ore price, and the ability of competitors to produce large tonnes with very small to no margins for a substantial length of time. (They did this previously when the price dropped)
4. The huge amount of capital required to get this project to producing.
5. The huge amount of time between now and project producing.

The only explaination I can see for the huge run is due it being hyped on all platforms, or possibly and unlikely an unannounced deal. Will continue to watch and hopefully be proven wrong for everyones sake.