Doug is asking for 1.9 billion. I wonder what the counter offer is? How much more than Rusoro's past offer of $1 a share could it be?

Fung threw out a $2 billion dollar arbitration figure for KRY....I'd use that a starting point to calculate a buyout price for GRZ based on Fung's view of reality and then de-rate both numbers to reflect a 30 cent shareprice.

Fung's 2 billion translates roughly into 5 bucks\share. We're not going from thirty cents to five bucks on a buyout....ain't gonna happen. Chose your de-rating factor. An optimistic de-rating factor of 60% applied to Fung's 2 billion dollar figure would translate to 2 bucks\share for a buyout. For the sake of argument let's assume that the Las Brisas asset is worth (in arbitration) half of what Las Cristinas is worth. That would mean Brisas would only be worth 1 buck\share. Ballinger has already rejected this in favor of rolling the dice in arbitration. Therefore (if you assume that both KRY & GRZ will be bought out), there are at least a couple of possibilities:

1. Ballinger gets paid more (dollars\ounce) than KRY...so if KRY gets 2 bucks\share, GRZ might get $1.50\share since GRZ is already well on the path to arbitration.

2. KRY & GRZ both get more....say $2.50\share for KRY and $1.50\share for GRZ.