Once the market wakes up to the idea that there may be a takeover bid, I think we will see the SP rise. We will probably also see a SP rise if favourable assay results from the 3 good holes come out.
Now, if this takeover comes from within the ROF junior companies, I don't think there will be much of a rise, just enough to make it less attractive due to spending of exploration funds on acquisition.
But, if the bid comes from a major, this will boost the SP of every company working in the ROF. Why? This would be the confirmation to the market that there is something of interest for a major here, and the market will want to ensure that they get a piece of that pie.
In the end, however, I have my doubts that there will be any takeovers. It is too costly for any of the juniors (NOT included, regardless of their $45mil cash) and the market will not be happy to see companies using exploration money on acquisition. They will remeber that the next time there is a PP...
And, it is still too early for a major to show their hands, with less than 1% of the ROF explored. Now, if the rumours of $15Bil worth of Chromite turn up to be true, this could really change the picture and a major might just take the plunge.
I think it will be a race for lab results from PRB vs 43-101 for NOT Chrome.
