i too would like to see aem buy fdn, but i don't think it will be them. i e-mailed their cfo after pdac, and he said the company is risk-averse. they buy smaller projects that they can use their expertise on to grow shareholder value. so they normally make acquistions in safe political jurisdictions in the range of 10-15% of their market cap, and they don't want to bet the company on any one acquisition.

that's their policy, it has served them well, and they are unlikely to change it. he said "unlikely," not impossible. but even given the recent increase in aem's value, i doubt they will risk 50% of their market cap to trade half a share for fdn. most likely fdn will be gobbled up by some bloated major that really doesn't deserve it.