$85m would def not be for a takeover. That wouldnt be enough to buy a house in Peppermint Grove my friend let alone another Iron Ore company.
Its simply going to cost them $85m plus for pre feasibility then full BFS.
Its come out of left field and a lot of mums and dads have been sucked in here.
However look on the bright side its a massive resource with a lot of potential.
Fingers crossed for a decent night in the US.