I plugged the numbers in and at 50% volitility of Kinross SP it comes out to $4.71, at 75% volitility it comes out at $7.78.

I expect these warrants will initially trade below $2.50, maybe even $2.00 if they do I will be buying them up.

Thank you BritNick for posting some useful information amidst all the noise and flag waving coming from the mail room.

Warrants and shares.

This is a valid topic of discussion for all of us who have to deal with the fact that we're going to be owning shares and warrants in Kinross somewhere down the road.

If you believe by holding out that you won't end up owning them, then you're playing a long shot IMO, but I'll defend your right to that view, and will support you by not tendering until forced to. This is also a valid topic of discussion.

Legal measures taken to address the obvious wrong that's been committed here is also a valid topic for discussion.

There are large sums of money at stake here and people need a board free of distractions and polemics to calculate their next move. Anything else at this point is a waste of our time, and after 2 1/2 years in this stock I'm not in the mood to have my time wasted.

Now, does anyone have baseline projections for the value of Kinross w/ FDN, less the Russian holdings? Looking forward, I see those Russian holdings going poof, one way or another. Maybe K can salvage some value and get out with their shirt?What does this mean to us, if we choose to hold a portion of K, and/or the warrants as a spec?

I for one, plan to hold some of this stock, but not all of it. I am overexposed if I keep all of it (as I expect many of us are) so how do we unload without taking a hit? Do we write covered calls? Buy puts? Is there a trade we can set up to lock in the price until we have a clearer picture of the direction things will take, both in Ecuador and in the market at large?

Start thinking along these lines people, because whether or not you want them, or believe you'll get them, K shares and warrants are now part of the equation. That is, unless you like to operate without a plan B. I don't.

ebear