"My rational is that at these prices no miner could convince their BOD to buy the company for what it is worth (at least $1B)

Tidal, can you elaborate on your rational? Where you're getting your information from? There are a lot of companies out there with very deep pockets. "at these prices" Are you referring to the current share price? I don't think a miner is looking at the value based on the share price, they look at the value and economics of the resource. Are you forgetting Voisey Bay? I am of the belief that the current share price will have no bearing on the value of this company.