On other boards there seems to be a great deal of bashing of Beartooth's management. The financials for the company were posted on SEDAR (www.sedar.com) show that the company has written down most of their investment in the Stillwater project.
Some posters claim that they have made complaints to the SEC and Canadian regulators with repect to the merger.
The overall concencus, I have gathered, is that the merger will be accepted. but realy I do not know.
In short there is a great deal of uncertainty, which helps explain why the stock is trading arround $0.01-$0.02
Good Luck