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Some True Safe Havens Are Still (Surprisingly) Undervalued

What about Mr Kaiser being happy to see PAL shares go to 1 dollar, and then making another offer for another 30 or 40% that cannot be refused?
PAL can mine and stockpile rather than sell unhedged in the spot market, just like it did for one quarter under the previous CEO, giving Mr Kaiser a low share price. Will this be the policy of the new CEO?

Or will he opt for negotiating new hedges?

The operating word is caution, because if PAL cannot borrow, there may be another dilutive sale of equity.

In the long run, I agree that Mr Kaiser will have a very lucrative investment indeed.