About as much as I like thinly veiled inuendo.

Well, in your whole reply we can agree on this one statement. I do not care for thinly veiled inuendo either.

I will take it from this statement of yours (Do I expect to get 22? Not really,) that your reply to my question of what ARU will be taken out at is < $22.

Please correct me if I have interpreted the peculiar phrasing of your answer wrongly.

At this stage, I once again see an offer of $60 otherwise I would not have stated so at this time. But then, I also understand the politics and mining better than most,having actually worked in such countries.

Who said that we were in competion?

It seemed to me that my analysis had been called into question. I just cared to hear your commentary. Though I did not see any hard numbers on your part as to why you believe the deposit is worth $22 in a takeover at this stage.

Do you have any such figures to back that up or is that just your gut feeling?

In my opinion, do not hold you breath hoping for a joint venture between ARU and Equador to develop FDN. The likelyhood of that is about as much as IF ungulates become airborne.

Regards,

F.F.