rbc says outperform $1.80 target, page-6

Thanks Hussy.

I totally agree about the takeover play and hope it doesn't happen (unless the price is right of coarse). Would be good to see a junior stick to its guns and run the full race for a change.

PIR magmt aren't in a possition where they'll have to bend to just any old offer, far from it, with cash in the bank and a very robust PFS in the pocket.

Randgold are reportedly building a warchest for an acquisition, so I can't see how they could possibly go past PIR for a bid , given the proximity, deposit quality and the market cap is sub $250mil. Question is , what could they afford to offer that would even see the light of day ?? I can't see PIR mangmt selling this for under $500million (if that!)