BGL have stated repeatedly for well over a year now - that their...

BGL have stated repeatedly for well over a year now - that their plan is to build their own mine.

BGL are obviously a plum takeover target for a mid tier miner, but the BGL Board and mngmt know they can build their own highly profitable mine at Bellevue, and I believe they would be highly resistive to any T/O bids, anyway it's certainly my hope that they would be, (but as I said above mngmt are on the record several times saying that they plan to develop Bellevue themselves).

We already know the mineralization and metallurgy are the same as previously mined at Bellevue.
There is 28,000mtrs of existing U/G mine development in close proximity to the new discoveries, good existing infrastructure. BGL have had no trouble raising money, and had $32m at end Sept

BGL are still making new discoveries and have 20km of strike potential which is largely un-tested.

Why any holder would want to see BGL taken over is beyond my understanding, as things stand right now.
BGL is IMO one of the prime junior goldies on the ASX, and if developed has the potential to be "highly" profitable, and many multiples of current price. In a strong POG environment I believe BGL would not have trouble getting debt financing to build mine and plant, this would limit S/H'er dilution

I know the DFS is still to come, but based on what we know so far, there are very strong reasons for positive outcomes when the DFS is presented (in the meantime I'm very happy with mngmts current exploration strategy); gold is off the boil at the moment and may go lower over the next few months, but IMO new all time highs in gold are pretty much baked in over the next few years.

Junior goldies are mostly getting beaten up at the moment, this could continue into next year, but if you have the money this could be a good time to accumulate shares in some good value junior goldminers.