I posted the following guess back in July, for the pool that was then running:

At $6-$7 per share, I get to retire. Obviously I'm hoping for those numbers. But I just can't see why we get what we are "worth" when, due to the macro situation, every other companies' shares are trading at a huge discount to what they are "worth", including Teck's. Can somebody explain why we are the exception? $3.45 November 1st.

As far as I can recall, nobody had a satisfactory answer to why CUU would attract an offer based on what the resource is "worth". It's still all about market conditions. And market conditions are arguably worse now than in July and they are getting worse with the approach of the fiscal cliff. So my guess is now quite a bit less than $3.45, down to a $2.50 per share buyout. But I acknowledge that to be a highly speculative number and I'm increasingly concerned that this investment will be a total washout. There's something wrong here and no amount of wishful thinking on my part changes that.

It is no excuse for the company to say they are precluded by a NDA from making any form of announcement to assuage the anxiety of long term loyal shareholders. If they are bound by such an agreement, they failed in their duty to shareholders by agreeing to that term.

I recognize that this opinion is in conflict with most of the experts who post here. I hope they are right and I am wrong. This will probably be considered, by some, to be bashing. But in fairness, we are all speculating and it is simply irresponsible for me to simply speculate on positive reasons for all of these delays.