I disagree. You are implying that a successful bid will go...

I disagree. You are implying that a successful bid will go through at a bit over $1.20. If a 3rd player is involved, as appears to be the case, who is to know how high this thing will get bid to? You're downside is $1.20, you're upside in my opinion is ... what ... anyones guess ... up to $1.50? Over $2??? Doesn't anyone remember WMC? Or any of the other recent takeovers?

Tethyan ALREADY has unveiled the 25th largest copper resource in the world and they have hardly scratched the surface. No doubt these players have crunched the numbers and compared it to the small market cap of TYC.