news on the way, page-14

At a conservative estimate the Cyclone zircon value alone is ~$1.70 per share. In full operation the projected annual return per share should be in the vicinity of ~ 6c. Apply whatever PE you like but I would guess 50c/share when in operation would be a fair valustion. The Chinese already control the company so in the absence of another buyer my guess is they'll offer in the vicinity of 30 to 60% above market . However if the Chinese that control it now wanted to cash out they would shove the price north of 50c/share. As directors they have a legal fiduciary obligation and that's the only thing that could freighten them .