I too am a little perplexed as to the trading range that we haved been boxed in for the past month or so. I suspect that there have been quite a few shares washed back in forth with certainly some accumulation.
As others have opined here, Gary has spoken publically about a likely takeover in an effort to move the share price for obvious reasons. To our chagrin, it obviously hasn't worked. Is the market anticipating much of the same in terms of historically missed commitments / deadlines or does the market recognize that AMEC holds the key? I am not suggesting that any of the eight C/A partners will require AMEC to complete the forthcoming PEA before they would be comfortable making an offer. I personally do not beleive that this will be the case. What I am suggesting is that OK's management and our advisors, BMO Capital are shrewd enough to understand that any offer tabled and accepted would have to have a closing date that is beyond the completion and release date of AMEC's scheduled February/13 PEA. I am not certain what the legalities are with respect the length of closing dates on acquisition deals but 60 days does not appear to be out of the norm.
If the above is part of OK's strategy (I would quite frankly believe it to be asinine otherwise) then it would be apparent that OK at this point does not have a level of comfort that the updated PEA will be ready for release by February 12/13. This could change any day and when it does, we will certainly break form the trading range that has prevailed.
Orko is in the driver's seat here. We all know that we have a unique and very desirable asset. I cannot foresee the acceptance of a "lowball" offer (plunk in your own definition) without having the ability to further solidify what the value of the asset is with the release of the PEA.
IMO, we are a pretty tightly coiled spring with the word from AMEC as the catalyst to release the pent up energy.