The amount of ppl stating that the big fish would be looking at MCR and PAN is laughable.
If they were juicy takeover targets it would have happened already. This has been circling around since the IGO takeover of SIR (and long before I might add).
The big difference, is that Nova is going to be very low cost production, large tonnage, exceptional grades, big ore deposit in one location.
You look at the Kambalda ore bodies, and by their very definition are small tonnage, high grade, hard to find, expensive to mine deposits.
The reason the juniors are mining the Kambalda deposits is because they run such lean operations they can actually make a profit.
The mid-tiers and majors would not make money on these deposits and they know it. They understand where there is a market niche and this is one of those areas. A mid-tier company taking over MCR or PAN would bring lots of additional cost from over the top safety programs, hr, operational policies, operational excellence, etc, etc, etc.
The target sizes that the mid-tiers and majors want are several hundred thousand tonnes of contained metal, good grades, amenable to large throughput operations. This is not the characteristics of these deposits.
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