You are better off selling then accepting Metallica's offer with...

You are better off selling then accepting Metallica's offer with the current surge in QOL's price unless you really like MLM (and would like them in your portfolio). I'm even thinking of holding QOL and taking part in the rights issue. I could average down massively for little money and I can seriously see QOL continuing with the $2 million it will raise (needs commodity prices to be in its favour of course). It still has a $30-$40 million processing plant as an asset and is currently only valued at $3.5 million. I believe it will at least hit my averaged price in the future so I can sell out.

There is still about 45% of shares floating out there (about 104 million), so illiquidity shouldn't be a problem (like it is for OUM, unless there is massive acceptances just before the close date of MLM's offer, which by the increased volume in recent days I don't think there will be as people are probably buying for the rights issue).