Some Perspective
An example of a 2012 takeover to put StockExpertPro's takeover comments in perspective:
Prodigy Gold was offerd a 54% premium by Argonaut Gold.
Prodigy Gold reported results from a NI 43-101 compliant Preliminary Economic Assessment (PEA) of its 100% owned Magino mine gold project in northern Ontario. Highlights of the PEA included a Pre-tax Net Present Value (NPV) of $351 million at a 5% discount rate generating an Internal Rate of Return (IRR) of 49%, with a payback period of 1.8 years.
As it happens, Prodigy was taken over for virtually 100% of their PEA NPV.
Could something similar happen with WOF? Who knows what Brian is working on now.
November 6th, 2012, WOF updated it's Sangdong project NPV to US$535 million, with an IRR of 65.6%. This looks like a better, more valuable, and more profitable project than Prodigy Gold's Magino project.
Does that mean we could expect something like a 100% of NPV takeover offer like they got? Something in the area of $500 million perhaps? If so, WOF's FD share total of 368,546,083 shares would actually value the company, I should say, the Sangdong project alone, at $1.35 per share. Far higher than the 60 cents to a dollar that you are thinking about.
However, nobody gets takeover offers for more than 100%. Certainly not these days. Even Prodigy was only offered a 54% premium. Essentially, this tells me that WOF is very cheap, and if someone is trying to hold the share price down in order to set a 20 day baseline price, then they are trying to steal the company for something very likely in the high .30s or low .40s per FD share. I.e. a premium in the range of 50% to 75% higher than the current price.
Essentially I agree that a takeover offer is a possibilty, but I also think you are dreaming to think it will come in the .60 to 1.00 range.
Now, if we were to have the financing announced instead, then I could easily see WOF moving up into the .60 to 1.00 range by the end of the year.
Until one of these thing actually take place, I'm afraid will will very likely be treading water in the .20s to .30s for a while.