RE:gameofbonesYes, good post, thank you.
I have come to realize, as this guy states towards the end of his article, that this has not been taken out yet because Warke doesn't want it taken out yet. Insiders control more than 50% of the company so any low ball bid is not possible.
The best zinc deposit in the world bar none, future world class silver district (likely only second to Fresnillo), key manganese deposit of national interest that currently receives no value.. that will change and when it does you can all but guarantee timely federal permits for the whole property!
I thought South32 would take us out before Christmas but now I realize an imminent South32 takeout is unlikely. When you are very confident in what you have ('best deposit in the world bar none') you don't sell the asset before you reveal all the details to the world via FS. Post FS the bidding war will begin and South32 will likely be priced out.
New prediction: Takeout in bidding war at $15 CAD between July and December 2018.
Rationale: NAV at today's metal prices currently is around $4B. Say this will increase by a conservative 10% with additonal work on FS. Given further Taylor upside, Central upside, overall property upside and bidding war we will get offered 1.2x NAV (inline with other world class deposits). Zinc/lead/silver prices will all be higher at time of takeout then they are today.