Don't pin your faith in any takeover. Playing that game is...

Don't pin your faith in any takeover. Playing that game is fraught with danger because if that is the reason for you buying in you never know when you're wrong and start to sell when your uncertain if it doesn't happen quick enough. Rather look to the fundamentals which at this stage would be the resource figure. From about 60 million tonne previously and 45,000 metres of drill results out they could prove up up to 400 million tonnnes. At $3/Tonne that would give them a market cap of $1.2 billion which is exactly where they sit currently. The fact that that is early drilling on only 10% of their land suggests that whatever they come up with could probably be multiplied by 5 to get a rough minimum final resource. So if they have 400 million tonne the sp has the potential to go to $40.
With a road show in UK and North America coming up there will be the chance for the company to sell new instos on the story. It's not a hard one to sell and every other road show they've done has created a lot of interest with a corresponding lift in the share price.
Fingers crossed!!