The second half of 2017 produced a profit of $34.1 million for...

The second half of 2017 produced a profit of $34.1 million for mining and $42.1 million for smelting, plus $24.2 million for marketing/logistics. Total for the 2nd half = $100.4 million.
Last year the highest Mn ore price was at the end of 2017 at US$6.68/dmtu and started at US$5.87/dmtu.
This year its closer to US$7.00/mtu average. We already know the CMSB profits for the first quarter showing OMH with a AUD$36.5 million and x 2 = $73 million for the half year. Even using the same mining and marketing profit will result in a minimum of $ 131.3 million profit.
OMH is definitely a takeover target, with the OM Sarawak being a ripe cherry ready for picking as well as the 26% stake in Ntsimbintle (Tshipi). I'd doubt whether any offer near $1.50 would be considered although $2.50 to $2.75 is a possibility. With the problems Chinese smelters are having with environmental controls and escalating power costs then OM Sarawak is definitely a takeover target.