Re: Drilling Comparisons ARU/EVGAt the bottom is the takeout offer and valuation of ARU when Kinross offered.
Sorry forgot to paste it in..
Another take over that caught our attention was the Kinross Gold Corp (K-TSX-) and Aurelian Resources Inc (ARU-TSX-V) business arrangement where Kinross has offered to buy 100% of all of the outstanding shares of Aurelian, valued at $1.2 billion. The offer amounts to 0.317 of a Kinross common share, plus 0.1429 of a warrant, with each warrant entitling the holder to acquire on Kinross common share with an exercise price of $32 per Kinross common share and will expire five years after execution of the arrangement. Aurelian own the Fruta del Norte gold deposit in Ecuador with an inferred mineral resource estimated to be 58.9 million tonnes grading 7.23 grams per tonne or 13.7 million ounces of contained gold and 22.4 million ounces of contained silver at a grade of 11.8 g/t. At the moment Ecuador is not the most popular country in South America in terms of security of tenure. However Kinross must have assured itself that Ecuador will become user friendly and that proceeding with this take over will lead to a successful relationship with the government. Aurelian stock has seen its stock see-saw these past months due to the uncertainty of Ecuadorian politics. The Kinross takeover bid took Aurelian stock from under 4 dollars to over $7 then backed off to over $6 in late July.