I wouldn't worry about a bidding war today or tomorrow but maybe later this year IMO. By then share price could be (will likely be) significantly higher than it is today. I would also venture to guess if and when any bid is formally made it will not be insulting to management or shareholders. Majors don't usually mess around when it comes to acquiring new ounces... they know what it is worth and they usually pay what it is worth... or at least in the ballpark.