The M&A activity continues. Here is a China company making an offer in Brazil.

** China's Shandong Gold Group, the parent of Shandong Gold Mining and a big gold producer, has made a $1 billion offer to fully acquire Brazil's Jaguar Mining , two sources familiar with the matter told Reuters on Wednesday.

There is lots of cash out there, the Chinese owns property bordering our Tesoro, is it just a matter of time before they express interest in our holding?