As a first take over offer it would not surprise me if it was as low as 2$.
Needless to say, that would not be offered as a real take over price but to snag a few shares and as a feeler.
My average now is approx. 1.97$ so I would not be pleased with such an offer.
As a second ( and a more reasonable first) offer I would expect between 2.75 and 3$. This based on recent financings. Again I would not be happy but if forced to sell I would not complain much. Such is life, it stinks at times.

More appropriate would be offers between 3 and 4$. This would represent a bit of a premium on trades over the past year. At this price I would not laugh but consider a fair attempt.
Would I sell? Only my short term trades but the long hold - definitely not.

To sell all I need at least 5$ and that is with the present native issues still not solved.
Should the native issues be done with, 10$+ or go away.

Now with the AT12 drill results out I am fairly confident and buoyed that AT12 is liklely to be near another Eagle, and the Eagle's Nest will end up somewhere in the 15 to 20 million tons range.

So am hoping that 15$ is about the only fair price to pay for this company, all it's assets and prospects.