I just received a copy of Kinross's Offer to Purchase from TD Waterhouse. By scanning through it quickly I can summarize the following:
1. This Offer to Purchase is supposed to have an accompanying "Letter of Transmittal" - for us to cast our votes on the deal. Oh, well, my personal ownership information is missing, plus this letter is also missing. Maybe TD jumped the gun and sending this document out. That's all I got - a bad omen for Kinross, I hope.
2. There is no comment what so ever on the mining law, WFT, political stability of Ecuador etc. Very strange for Kinross to take such a huge leap of faith without knowing if Ecuador will nationalize FDN shortly thereafter (for crying loud).
3. No update on the potential reserves either. They still mention the 13.7 million oz. of gold and 22 million oz. of silver - all old news.
In short, NOTHING. You might as well read the press release, it tells you more, and without the headache from reading all the legal gibberish. And we are supposed to vote on that!!!!
Give me a break. How can we determine the truth value of our ARU shares on this document!!
Kinross wants my vote - it's "HELL NO".