Personally, I never expected $25 per share ($100 presplit) because something inside my head always thought that there would be a MODERATE discount for the political situation. And I have posted already my thoughts about this being a poker game. But other posts make me wonder as well if this is just not a sell-out.

BUT, the funds and even Patrick have a much larger stake in this than us - that is what I keep going back to. The Board approved the deal and Patrick would only have one vote on that, the others such as Bee and Warman have a vested interest in a higher price.

I may be totally wrong but I think this bid was simply to wake up anyone who was lurking. Obviously, parties with CA's would be throwing around numbers in a 'theoretical scenario' to the Board. I have been involved in a few buyouts and mergers (speaking in terms of my work not investments) and the way it works is rather simple (finished one off earlier this year). Company A simply asks, theoritically what it would take to buy Company B, if it were for sale of course. A few numbers are tossed about and the game is on.

IF, K was the ONLY Company to actually come to the table then I would be shocked. Every significant producer in the world knows about every significant deposit in the world - the resources, the cost estimates, the value. Resource Companies are always looking to grow both reserves and production.

I think though, in order for a good bidding war to work for us, we would need 2 other parties, not just one. If only one emrges, K may just stand aside.

Well, the only truly good news we know for sure is - we all will not have to wait long.