Lack of a DFS for the new setup (Speewah, Vanadium focus, back to Darwin, who knows what size and type of processing plant is now being envisioned, etc etc) would be a big drawback for any company looking to takeover TNG. As would lack of a firm capital costing and environmental approval. Another company might take the punt if they could get it very cheap but there are lots of unknowns and risks that would make a bid unlikely ATM, IMO. Having said that, $750m is 50c a share. (That’s a wildly optimistic figure plucked out of my bottom BTW - a lot more work is needed to get to that sort of possible valuation.) Long term worth a lot more, IMO, but I’d be tempted to grab 50c and run.
