RCF as a financial suitor may indeed make a take-over bid or in fact have to make a take-over bid if they exercise to above 30%. A strategic bidder will normally pay a far better price than a financial one. It would be obscure to think of the fact that RCF takes the entire company, then to sell it off to an industry player. Obscure as it would trigger a proxy which would again costs endless time, however if they make the bid it better be good, otherwise their reputation is gone and would involve Major derogation risk to themselves. However if they do it to trigger the other suitors to start bidding as well, they still have control as to how much needs to be on the table before changing hands. 30th of June can be extended again and again, I think Bob Rae has come up with the answer already, in my view it is gonna be changed hands before extension date as set. Too much going for it now. Bob very clear on Marten Falls, in the lead and already proactive to pursue their position. They must have been horrified, an East-West road leaving them aside, while they are the closest FN to the ROF. Thrilled with this news. We do Not see a lot of free warrants given with flow-through shares in the entire market these days, more easy to raise Capital. If anonymous is RCF holding back the price, they may have less shares than one thinks, having sold along the way, if they kept the shares and added while capping it, we need a good lawyer to safeguard any offer under the belt being too low ball. Small chance this is going cheap now.