* Value of the Kinross bid for ARU has declined - we have seen
the value of the Kinross bid for ARU drop from $8.20 to $6.04 per share
in the past few weeks. Although Kinross is only issuing 8% of its share
capital for the bid, along with a drop in gold price, the market appears
to be making a statement regarding the political risk being taken on in
Ecuador.

One can't really fault the Kinross holders for failing to see the bigger picture when our own management (contrary to every other miner in-country) also now feels it it risky.

If you don't already have a stake in Ecuador, you don't have much incentive to get at the full facts, as we here have done. Comments from the other miners support our position, but if Kinross holders want to sell, more power to them. Anything that gets us out of the swamp is fine by me.

ebear

BTW, welcome back Kerrisdale.