ebear, i'm a little slow on the uptake. does this mean that the 15 million shares given to kinross, and any other shares that kinross may own (not including those tendered) do not count toward the 90% threshold,

That's correct. The 90% cannot include shares held by the acquirer. So, subtract the number of shares Kinross owns from the total of undiluted shares, and if 90% of what remains are tendered, the next step is compulsory acquisition.

ok, now i think i got it. the 123 million shares that were tendered leave them just short of 90%, and they can't buy shares to reach that threshold. it's a long shot, but we'll find out for sure tomorrow.

beat to quarters!

a ship-of-the-line has drawn up alongside us, and we have one last battle to fight. everyone wear your red shirt because we're going to need all hands on deck.