In this market and the way it is, you would be stupid to let go of PIR for $500m (~$1.50). I can't see anyone offering over $500m, so would call that a max price.
I would be more than happy for management to keep doing what they are doing. By mid 2014 we should have a DFS that shows us what we have and what we offer in terms of value.
Hope PIR take this to production, but would maybe change my mind if $3 was offered ... maybe (but that ain't happening in this market).
PIR Price at posting:
69.0¢ Sentiment: None Disclosure: Held