Probably... but I hope it's not going to be such a ridiculous price like Underworld Resources...

Brett has got 6.7 mio ounces... based on a in-the-ground-value multiple of 10-20%, the takeover value would have to lie somewhere between 670 mio and 1340 mio US dollar based on a 1000 USD gold price which is conservative (which would be SP between 5.6 and 11.2 dollar US/CAD... conservatively speaking! Brett has 120 mio shares FD).

Since Kinross sucks big time and because their core business is high street robbery... I think their offer will be way less. They will probably state they offer a premium (on a very undervaluated stock, which then is still undervaluated!).

And in this quick and dirty valuation I didn't even take a Real Option valuation into consideration. In a real option valuation, the variance and the standard deviation (in this case of the gold price) are actually your friend. So the more fluctuation in the price the better it is. If you look at the gold price over the last 5-7 years you'll see what I mean. In a real option valuation a premium of 30-50% is likely feasible regarding the variance and the standard deviation of the gold price over this period. And you can be sure the brainy guys at Kinross know this, and this kind of valuation practices!

In all.... people who think a takeover SP just north of 3 maybe 4 really have to think twice... if they agree there being robbed.... BIG TIME!

GLTA