Interesting.

"This feature, which is in addition to the ability of an Insider to proceed with a "Permitted Bid" or with prior approval of the board of directors of MAG without triggering the rights plan, gives shareholders the ability to decide whether or not to tender to Fresnillo's proposed offer through a process that is fair and not coercive. A copy of the amended rights plan is available under MAG's profile on SEDAR at www.sedar.com."

So it looks like we are all free to put up our middle finger to Fres' offer without sacrificing the share structure.