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Kinross Gold Corporation Message Board

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  • mroleandn2000 mroleandn2000 Aug 3, 2010 7:50 AM Flag


    So, you think that the RedBack shareholders will vote no?

    That's what all the buzz was a year or so back when Kinross bought out Aurelian. "The shareholders will vote "NO!", etc., etc., etc.

    For Kinross to announce this, they've probably already locked up more than 50% of the shares from the largest RedBack shareholders, the rest of the shares are just going for the ride.

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    • Yes it is possible that the Reback shareholders will vote yes. But Kinross shareholders will vote no. I was assuming the no vote since Kinross shares will drop to the price that the market perceive as fair value for the Red Back Mining shares. The premium will disappear. Also Kinross's float will ballon to over 1 billion shares. Barrick with 900 million shares is trading at $40 and they mine 8 million ounces a year. There is no growth potential with that amount of shares since in 5 years they will be half of Barrick current production. The most the shares will be worth is $20 if it were trading today.

    • ....Having been a ARU shareholder at the time that Kinross bought it...I would have to say that everything that you have stated is probably a fact!

      Kinross had the "deal" with Aurelian all sown up before any votes took place! Kinross was basically a silent J.V. partner that already had many shares...and had that ARU management in their "pockets" with big payoff deals in place!!

      We, the retail share holders, (who had profited greatly in the Early days of the Bonanza discovery) fought like hell to not be "bought" ...but it was all an exercise in frustration, because it was a deal that was already done in the Company's "back room"!!

      Best Regards,...I hope this deal fails soon, so that the share price can rise some...then I might make my way to the "exit door"!!
      Long for Cash

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