Ann: Project Approval and Business Licence Receiv, page-13

re: Ann: Project Approval and Business Licenc... 180 million shares
$25 Net Profit ( 50% of company's projection )
gives EPS of approx 14c . say PE of 15 = SP $2.10

Providing no hiccups $2 is minimum. Given the small market cap i wouldn't expect any takeover until production is well and truly in full force. IMO larger player would rather pay premium to see everything is up & running.
My guess is the keen buyin on the last few mornings is partly due to overseas investors.