Newmont are really the only major likely to bid. They already...

Newmont are really the only major likely to bid. They already own 14% of RRL and Australasian gold production is threatened (Jundee only has a couple of years minelife left, Boddington is underperforming and Batu Hijua is threatened by sovereign risk). Organic growth let alone reserve replacement is near-on impossible for large companies. So... Newmont will likely do what most large companies do: wait until RRL have done all the hardwork, i.e. permitting, planning, design and construction, and then launch a bid at twice the price they could have if they'd done it 12 months sooner.