$4 million revenue this year

I'm so confused and dont really know what to do...

I bought this stock over 10 years ago at 16 cents and have held during this time with the belief that they will eventually take off. This is the first year that they actually make some money and now the vultures are circling. MAS have mined 32,000 tonnes as 2 x trial batches and have received $4.341 million in revenue. They plan to mine 300,000 tonnes per annum = $31 million per annum = approx 4.8 cents per share per annum.

I have now had 2 phone calls from MAS representatives and one this weekend from Mighty River representitives asking am I getting on board with MIN or am I voting to get rid of the current board.

My problem is that the current offer by MIN appears that they are getting MAS for a bargain at 12 cents. Mighty River and Auvex also want it but have not counter offered and wish to go down the get rid of the current board path, which does not give me any confidence that the share price will go up if they take control.

All parties involved have made this very confusing for the ordinary shareholder. My questions:
1) Why have the current board accepted the initial takeover offer at around 10 cents? This appears too low.
2) Why has there been no counter offer by the other parties?

Can anyone shed some more light on this?