Takeover imminent?It sure feels to me like serious negotiations are in the works right now between AZ and South32. South32 announces the will be acquiring an additional 15M shares. They start out good taking a couple 1M and 500k blocks from willing sellers. Then it looked like the big blocks dried up so they went to the open market but soon realized they would drive the price well over $4 with that strategy, so why not just strike now with the takeout at a lower takeout price while they have the maximum advantage over Glencore and the other big boys in terms of privileged information. Waiting for feasibility would be a huge mistake for South32 as would put the other majors on an equal playing field and result in a bidding war against much deeper pockets. Waiting also risks a spike in the price of Zinc which many are predicting and surely they have their own in-house projections. The lack of volume and tight trading range of the last couple weeks supports this theory as all insiders including South32 would be locked out of trading during such negotiations. Jon Doody said a major could acquire at ~ $6.25, pay the capex, and still achieve an IRR above 20%. And this is an old projection before the recent expansion drilling and without any value given to Central or the rest of property. At a stock price of $3.30 they know they can steal this for $6 as would be an 82% premium likely causing competitors to back away at this stage. Based on all of this I am calling for a $6 South32 offer by the end of 2017. Management will endorse and so will I. Management will look good for getting an 82% premium on the stock price. And South32 will be smiling ear to ear knowing what a deal they got. Everyone wins! Except the shorts of course - get out alive while you still can.