There is a chinese proverb I beleive that says ( may you be cursed to live in interesting times )

Well these last couple of years certainly have been interesting for ARU investors, in my opinion any way.

It appears that a bunch of our board members are no longer part of management. How convenient, I guess now non of them will have to report what they actually do with there shares and options.

Having looked carefully at Kinross news release it would appear in my opinion that the 15,000,000 shares gifted to them by our management at 4.50 are included in the total number of shares but are not voteable.

I certainly would like to see the whole agreement that was signed into under this P.P.

If that is the case, then if management decides to not tender there shares to this offer for some reason, this only gives K aprox. 66% of the shares by my calculations. That falls short of the 66.66 they need.

Then there is the question of whether or not Kinross really has total control of the shares they say they do.

You see in my opinion, when tendereing shares there is what is called a soft lock-up and a hard lock-up. If you tender your shares with no restictions this is called a hard lock-up and you have no recourse if the acquiring company desides to take them up. However, it you tendered you shares under a soft lock-up, then the acquiring company can only take them up after meeting the specific conditions of the tendering party.

Most major shareholders and funds in my opinion rarely tender there shares as far as I know under a hard lock-up, but under a soft lock-up. If the major shareholders entered into soft lock-up agreements with regards to ARU, then I would certainly like to know what they were.

Since Kinross has extended the deadline to tender your shares. Then it is still possible in my opinion that certain large holders may be able to withdraw there support depending on conditions set down in any soft lock-up.

Perhaps if some very good news were to come out between now and the final deadline hahahahahahahahaha.

The above in my opinion is just the way I see things.

This B.B. is really giving me some good possible material for the intregue book outline I am thinking of coming up with.

All my posts are just thoughts from a person out in hahahahahahaha land though. Hahahahahahaha.

Regards,

F.F.