Yamana takeover.My belief is that, while Kinross did not need the additonal capital it just recently raised, it did so for a reason. Because it can, and because valuation of gold miners are extremely low......to the point where it is financially more prudent to buy a miner with good reserves like Yamana with positive cash flow, than it is to buy a company with huge reserves but have to build the mine from scratch.
So what I think will happen is that, Kinross will wait for Yamana's Q4/2008 earnings report, and put in a bid to takeover Yamana for about $13-$14 a share.