RE:What's next?No "one-size-fits-all" answer. Some companies get buyout offers and try to maximize the buyout price and the company gets acquired. Others raise capital (often called a "bought deal," which can be either new shares to the public or a "private placement" to an institution or other large investor), with the goal of advancing the project to production. For example, PGM is a mine development company that is expected to have a fully operating mine within the next few months. So PGM is very likelty to be a real miner. No way to know what will happen at BNCH.