Not investment advice, please do your own DD.

I don't have your exact post from the time but I believe you had originally worded it that an institution had been buying shares.

At least that's the way I took Marla's comment at the time. In this case I can almost guarantee that it was Dundee or BMO. If you want to be rewarded with highly lucrative banking deals you have to go in the market and support the price during times of weakness. You then make sure the company knows its you supporting them.

Where as if a Major is building a position, the last thing they would do is tell Aurelian as there is nothing to be gained at all from that ...it makes their hand weaker if anything should they sit down to negotiate at a later time.

The original confidentiality agreements had a 5% standstill clause. There is no doubt in my mind that several Majors are sitting on up to 5% of the shares out. Even if they have decided that they don't want us for whatever reason, I can't see them tendering...

My bet remains at 30% tendered. Question is does:

a. Kinross walk away.

b. Kinross extend the bid leaving the terms the same.

c. Does Kinross extend a higher bid.

d. Does our whiteknight show up.

We will know by Thursday morning...

Regards,

Buck