any takeover will be for wa1, not enr in my view. What they have...

any takeover will be for wa1, not enr in my view. What they have is not economic, so why pay an incredibly inflated price already for extra resource when the main acquisition (if it happened) has an enormous life of mine already and you can't just ramp up production to any old number as the demand has to be there. It isn't yet. Given wa1 is far from fully explored, they would just buy it and continue to explore and expand the resource whilst progressing and putting it into production. They have time... the market demand needs to grow and so too will wa1's defined resource... but there is zero reason for a suitor to go grabbing at all the niobium they can find/see. Enr will likely drop back significantly in market cap over time as people realise they don't have an economic resource (unless of course they hit the motherload... but then m&a isn't like tattslotto, you usually buy what you know is there not what you hope).
there will be no fairytale m&a for enr on my view. Not with what they have currently shown anyway.