An offer was not made to date because there was no resource estimate. ....But now that there is one, it's magnitude has put the potential bidders in a tough position.....with the looming shortage they need to nail down some feed/supply but the price of FCU just went way up.....they know that the resource will expand to 150M lbs soon and the price will go even higher.....so they need to act soon or the price will go even higher......but the questions are:

1. Will the shareholders accept a low offer now when the resource is likely to grow? Not likely.
2. Will an offer at this point spark a bidding war? One would think so.
3. So considering this, how high do you go with an offer?

The price of U3O8 may be low now but everyone knows there will be upward supply pressure going forward. So is the current price really all that relative to what the value of a shallow deposit like triple R is today? I suggest not that much. Besides it won't be mined for a while anyway so we are looking at future valuations anyway.

A 10 bagger suggests $12 per share. That seems a little high but $5 would not be out of the question IMHO. All of this suggests there will be an offer sooner rather than later.