Wait and See Market! Years ago there was a good premium on shares like these. Today just the opposite. We will see the share price climb post event not pre-event. A good deal of the fun money is long gone from investors portfolios and therefore we loose the speculative premiums paid in the past.
60 cents or $1 may very well come for PTA shareholders. But there will be little doubt in the market about the value of the company before we see it.
Of course another player may see the value and make an offer. Relax and enjoy the game. PTA has good cash flow and an encouraging track record drilling.
Still patiently holding.