I just spent 2 plus hrs reading and calculating. Months ago I printed out the K Q&A letter but because I knew I was in a deficit position so no need to submit a Tax Election, I intended to read it at Tax time. Besides you and I established the method of establishing our prices mos ago or so we thought but do Ph K Assistance: 1-866-930-4912 between 8:00AM-5:00PM EST for confirmation of what I now think is the correct method as I still haven't read this excessively worded letter in detail. I merely picked out the Q&A that I was interested in. I tried to contact K for verification just now but whoever mans the ph was out.

For each ARU sh we recd 0.317 shs and 0.1429 Wt. Kinross determined ARU FMV on 29Sept08 = $5.91 Where did K get this fig as it's not a Closing price of any significant date ie end of Aug, 15Sept or 29Sept08.

See #14 in this letter: ARU shs were converted to K on 29Sept08 @ $17.10 and Wts @ $3.41 ARU shs were converted to K on 15Sept08 @ $13.80 and Wts @ can't find.

Your Example using MY method: ARU 2000 shs Cost of $8,405. 2000 X .317 = 634 Shs and 2000 X .1429 = 285 Wts.

You have 634 shs X $17.10 = $10,858.50 Plus 285 Wts X $3.41 = $971.85

Total Value to you: Shs $10,858.50 + Wts $971.86 = $11.830.36 Less your Cost $8,405. = 2008 Capital Gain ... $3,425.36.

Without checking I'm presuming this fig is likely close to your calculation is it not? I'm being rushed so don't want to check back. Gads this took ages to do at a busy time but I just had to do it after seeing your Post. I'd appreciate you pulling this apart AFTER reading the K Q&A letter. I posted a nbr of times for help from the "Smart Guys" prior to reading the Q&A letter, being after you and I played with the figs but not one response was recvd. This whole K transaction has been a great big PITA since inception and continues to be even now being greeted this morning with NI Dilution. I had my chance to get out yesterday at $24. and knew I should take the opportunity to do so but ... likely due to greed, I let myself get sidetracked and totally missed seeing it go through $24.50. It sure sold off at the Close $23.11 - makes one wonder if the NI was leaked and/or being distributed to or an acceptable price being discussed with the Institutions. Nothing surprises me anymore.