Would like to see it hit...$ 1.50 before any offers come in.
That way a 30% premium takes us to $ 2.
Potential suitors know two things:
1. The closer to production, the higher the takeout price (time value of money and all)
2. The higher the PoG goes, the greater the cash flow and the greater the ROI and therefor the higher the takeout price.
Personally I think much more than $ 2 is (and will be) justified. More a question of what key insiders think is a fair return for all their toil and trouble.
MM