RE: $1.60 is where this will end up getting takenLikely good advice Medicine Hat. If this is going to be sold, your rationale makes sense. I still think (Hope?) that the management here is thinking long term and their plans have been decimated by the markets over the past year - And that is 2010 they'll be back on track and in 2011 we'll be looking at a very different scenario.
I've been through this type of thing as well. I expected Driscoll and the team to try to take it private at about $1.60 - $1.80 - A defensible price - Hence the continual buying. I almost expect to be ripped off by majority shareholders!
Problem now becomes the smell around the company. A failed takeover, management who isn't communicative and rable rousing shareholders with their own agendas does not a happy story make.