Sketch, I agree it was cheap, plus also a brilliant move for a mid-sized gold company or major for that matter but it's not that common for bidding wars in precious metal company acquisitions. I would rate the possibility as no more than 20-25% that a competing bid emerges especially given the unknowns about Ecuador that still exist and the history of unpredictable actions by this government. Most companies that have the balls to strike as Kinross has, tend to win the day. Also a paper deal means no capital gains tax for Canadian investors so this gives full leverage on capital in a very savvy and growing Kinross.

The truth is that ARU has a truly oustanding world class developing discovery in a politically unpredicatble environment and that's what Kinross is exploiting. My guess is Kinross has spent considerable time getting committments from the Ecuadorian government for weeks or months and no other company can catchup, this would be common for third world situations.

Fortunately we have our own outstanding world class developing discovery (ECU Silver) in a much less risky political environment with a NAFTA agreement and with a very strong shareholder base. But I do agree with some others, and have for a long time, that our greatest risk is being taken out before our time. Management as well as existing shareholders are charged with making sure this doesn't happen to ECU and I would rate the responsibility at 50/50, after all it is our company.