RE: seek strategic alternatives to maximize shareI was very surprised. DFR on the cusp of some very high-impact wells that could "transform" this story (i.e., NAV going from $2.75 to over $5.00 by year-end).
However, juniors across the board are in the crapper. And the smaller ones even crappier. Equity capital closed for many firms (or imprident to issue equity below asset value) - so growth is capital constrained in general.
The Board is looking to open up discussions thinking a merger with another firm will create a larger firm that will have more economies of scale and greater market attention (i.e., hoping for better valuation). That said the process will be ongoing. DFR still drilling some high impact wells over the next 2-3 months. Hopefully a major success or two will catapult the share price - making any deal more attractive.
Whether they are up for sale or not it will be the success of ist next few wells that will have a dramtic impact on its share price.