Rapidrob "My needs are small, just a little profit somewhere, please."
That is what a prospective buyer wants to see, a few holders that would part with their shares on the first offer. ( I suspect your 'little' is not as little as some may assume, cheers.)

Whether your needs are small or great, the offer should represent fair value and most of our shares should go at such. I can understand someone and even I will part with about 10 percent of my hold early on to get some profits just in case the buyout falls through and I might not get any profits ( see my reference to Chinese below).

BUT, and it is a large but, I expect and intend to hold out to at least 5$.
Eagle's Nest alone at most basic price is worth at least 3$, other finds about a buck and other properties another buck.
Then there is the buyout premium for me to part with my hold.

Unlike some guesstimators of under 2$ for a first offer, I suspect that the first one will be 2 or a bit over ( a feeler nothing more). I do not expect any of the long holders to bite on that.
Though, there will be a few short term traders that would sell a portion at that price especially if they have substantial holds obtained near the $1.20 range.

For instance:
Chinese could make an offer and if not accepted are likely to go away. They tend to be realistic at start so take it or leave it.

Cliffs, and the like, are more likely to make a second improved offer after an initial rejection, say upper 2$ to low 3. This is based on the evaluations made by instos last year.
Should there be another interested entity then we can expect many offers ( 5$+, sky the limit? ) before the dust settles.