Take over premium ?, page-152

I have been reflecting on following statement in Barry Fitzgerald’s above article:

“Absent a meltdown in the gold price, which would close off the bid option for Ramelius anyway, the value story at Spartan is set to increase with he pending resource update. So any bid is going to have to be well north of $1 a share, well north.”

Is he suggesting that SPR’s SP will see another significant SP gain when the updated MRE is released by stating “ANY BID IS GOING TO HAVE TO BE a WELL NORTH of $1 a share, WELL NORTH” ?

There are probably plenty of other interpretations.

Personally I am not convinced there will be a significant positive reaction to a favourable updated MRE give the SP has increased by about 80% since the CR (ie about 2 months) and we may instead see, what is commonly referred to as ‘buy the rumour see the fact’.