RE:RE:Warrants bought by IsnerI agree. Even if IMG approached MXI for a buyout today, I can't see them accepting less than .50. We already know that Diakha is very valuable even without a 43-101, and as you suggest, there are other prospective targets on the JV plus the highly prospective Karita.
It's not likely to see a bidding war for MXI shares with IMG involved in the bidding because IMG is too tangled up in MXI with 50% of the JV and 20% of the company so outside parties wouldn't be interested in a hostile partner. However, if IMG wanted to monetize the JV, then it would be possible for multiple companies to bid for MXI if they can get IMG's share of the JV too. I can certainly see Randgold interested in the whole thing, including Boto and no doubt IMG would want some bidding happening. If IMG was going to package it up to sell, it would make more sense for them to buy MXI first, then market the whole thing.
Where MXI would have a great opportunity for a bidding war would be on Karita which they own 100%. If it turns out to be a big deposit there (say 3 million oz + ), then it would be very attractive as a standalone, low cost mine and multiple parties could be interested in bidding on it, including IMG.