Red Metal Banter, page-423

A "double", as @PhillW nominates as a hypothetical temptation, would certainly attract some takers, but if a suitor waits for further met test results and favourable resource expansion drilling results, we'll be there (or should be there) in a flash anyway.

A buyer would have to offer much more for RDM than that! It's only about 35c/share and as you and others have stated here already, between RDM's own prospects, but in combination with its MMA ownership, 35c wouldn't come within cooee. 3 times that would still be a spectacularly good punt for a big mining house .... and that's without any further results.
... With good results from either or both camps ... and go 3 times at least, again!

I'm not sure of the mechanisms a company (can) employs to deflect unwanted takeovers, but I daresay the brains trust is onto it.