Hard to say where the offering will be. $5 is certainly plausible. We need the analyst to amend his prior figures to accommodate the Brazil deal when that "officially" closes. That could easily drive the offering prize higher.
Some of the earlier poster have mentioned the company can not repatriate funds from the Indonesian site. If this is truly the case then this bodes well for a higher offering price since the company will need more funds for the other projects.
The reason it can't be a low offering: 1. Would not have enough shares in the O/S. Only 39M O/S left after Brazil consideration factored. 2. NASDAQ/NYSE has a minimal bid.
Now the company could do a Reverse Split to Qualify for minimum bid but that would not change the current 6 Million Market cap.
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