Anything can happen but the chance of a takeover now is remote. The land transfer needs to be done before a company will pay the proper price for NCU
The second half of 2013 is more likely.
Management has a duty now to beat back any advances to buy us until we can see the true value.
We should then be good for 20 cents in the ground as a price, not including by products. The question becomes whether that price applies only to reserves or to measured and indicated as well