Their known resources have changed significantly over that period, hence the rise in price.
From discovering a big metals deposit, to proving it up with further drilling and then attaining all the necessary licences. Mining takes time and lots of it!
I think calling it a speculative bubble is wrong. Whether a deal happens or not, the assets in the ground are proven and their value is significantly higher than £1.1Billion. If there is no deal EUA can mine it themselves.
This is of course a high risk stock, so if you’re not comfortable with where things are I wouldn’t invest…