Good sign all this director buying and blackout rules suggest...

Good sign all this director buying and blackout rules suggest maybe no raise or blockbuster news for a while and they have the fresh convertivle note rollover. You'd think cobalt would have to be on ice with CLA's met work, so only immediate expense is revision of the DFS. 

The original offer for Parker Range was $100m cash and up to $80m of royalties, assuming port access locked in. From what I could see, longer term price assumptions were US82c dmtu with an $0.80c XR. So at a basic level, it's any capex/opex savings from revised DFS and any change in XR vs a lower iron ore price and higher opex costs like diesel.