That is a fair analysis. Lets remember that several funds like Sprott own a big hunk of ARU and even did a PP at $37 not too long ago ($9 split), they would have to be onside with the arrangement.

I am just taking a look at K and given gold production and cost number sfor the2008/2009, they look very undervalued. Having said that, if they are undervalued these funds can just buy K so that leads me to believe that this is in fact an initial bid to get the process open.