Latin Resources Target Price Raised 80% to A$0.45/Share by Canaccord Genuity, page-16

That is possible. The explorer morphs to producer, but during that time almost the entire board will change. Massively different skillset required and of course RIO and BHP boards get it wrong - often. The bigger they are the more they waste. RIO with aluminum and BHP with shale just two examples.

If they can pull off the transition, then good on them - it would be fantastic to see wealth continue to be generated for years to come for shareholders who were early to the party. This is one of my biggest holdings so I am not trying to bag the Company and I am still accumulating. Everyone has their price and the majors will want to squeeze out the competition, so I still favour takeover - at well over $1.