Good points Aita..
I'll be a reluctant K shareholder for all the reasons you mentioned + the odour that reeks from management's tactics in the ARU takeover.
One positive of being a reluctant K shareholder is that I won't be falling in love with this company and will be selling off my holdings as the SP pops with the crooks in Ecuador announcing favorable laws, etc. Hopefully the Russian assets won't implode before this happens.
Still NOT tendering!!