They are an attractive target - especially if you were say...

They are an attractive target - especially if you were say sharing a massive iron ore deposit with them already....

They have cash in the bank - check.

They have 30% of a near active iron ore mine - check

They have an extremely large lithium deposit - check

They have a cash generating drilling business - check

They have competent management - check

Now that the oppies have been exercised this - at least on paper and away from the more global economic picture - should be on its way up rapidly.

If I were a cashed up iron ore player - I'd be on the drawing board right now to work out how to take them over.

Thats just how the spec end of town works - survival of the fittest.