you are totally right, PAAs did great harm to Orko Silver. But the thing is, La Preciosa is one of the biggest pure silver properties in the world. The thing is all known and developed projects are exploited until 2020.
To say it frankly, I doubt that Orko want to explore La Preciosa further big way. I guess they are satisfied whith that what they have and want to sell it now at the current level of resources with much blue sky potential.
My guess is that also Cope & Co. expect and consider a buyout price at least at $5 or $6 per share as fair. They should deny any offer below that because with rising silver prices we also could get $10 in medium term.