I think it is doubtful that HPQ could ever be sold to anyone but PYR unless PYR wanted it to be. Except for the mining interests Most of the value in HPQ is under the HPQ Nano umbrella which PYR has 50% claim to therefore PYR could easily out bid any other offer. Plus PYR has ownership of 14% of HPQ Silcon.

The new fumed silica venture appears not to be under the Nano umbrella. I don't think the exact financial arrangements on this have been finalized but I doubt they will weaken PYR's position.