I am not saying there is no risk and I am not advocating buying ARU here. I am just saying that the offer on the table is not a good comparison to what should be expected for that quality of property.

In the interest of full disclosure.

I do own shares in ARU but not as many as I used too. I saw a lot of risk when they started talking about 70% royalties and pared down my holdings accordingly. I did buy some back in the low 4.00 range just before the offer but I do not hold anywhere near as much as I used to.