Ok as a recent example let's consider Kinross' takeover of Aurelian last year in an environement in which media created the impression that Ecuador had considerable political risk. I am not saying VZ is the same as Ecuador but at the time the public was very wary of mining in the region due to Correa's decision to suspend all mining operations for a period of 6 months.

ARU's Frutal Del Note: 13.7M oz

Takeover Price: USD $870M

So the final per oz price was USD $63.50

Using this rather conservative valuation and applying it to KRY we get a take over price of $1.073 Billion or approx $3.64 per share.

Please remember that ARU shareholders felt that the deposit was stolen from them on the cheap due to the perceived political risk at the time. Basically the ARU Board of Directors sold the shareholders out. There's plenty written on this including some videos if you care to check them out:

Aurelian Resources Take Over Part One
http://www.youtube.com/watch?v=vD8nT...

Betrayed: the story of Aurelian Resources
http://www.youtube.com/watch?v=4vLwL...

Hitler's reaction to Aurelian buyout
http://www.youtube.com/watch?v=TDKRL...

Gold Wars: The Battle for Aurelian Resources
http://www.youtube.com/watch?v=cQjIY...

In any case, I would not sell out for anything less than $3.64 based on this story..