aru adopted a shareholder rights plan (i.e. poison pill) way back at the 2006 agm, shortly after the discovery hole. i don't remember all of the details, but it kicks in when someone acquires 20% of the outstanding shares. at that point all current shareholders are given a right to buy shares at a discount to the current share price that day.
i think it is a 1/3 discount. so if evil barrick comes along and acquires 20% of aru, and offers a "generous" takeover price of $9, then all of the shareholders have (i believe) 60 days to acquire up to as many shares as they already have at $6. this won't matter much for the punter who owns 100 shares of aru, but if sprott asset management exercises its right to buy another 10 million shares at $6, this becomes a much more expensive proposition for barrick, or whoever makes a lowball offer, and also makes it much more difficult to end up with 51% of the outshanding shares. they don't call it a poison pill for nothing.
if anyone can remember the details better, please let us know.