true bootleg - my assumptions are based on one kcn share for 14...

true bootleg - my assumptions are based on one kcn share for 14 andean shares - and of course i may have been a bit presumptuous in assuming that kcn would reach the 25% mark, at which point this offer would be valid. as far as being able to sell your andean shares at 34.5c, then a few sahreholders might be able to do that, but it was only at the end of the day, that 127,000 shares were traded at that level - and no doubt, the only reason why they traded at that level, was because kcn were trading at a higher level, which dragged along the andean shareprice. indeed, if you fully read an earlier post, of mine, you will see that i commented that the premium was approx 8.5% from time to time. indeed, at about 2.30 on friday, kcn was trading at about $5.10, and andean was trading at 33.5 - or $4.69 for comparative purposes against kcn (14 for 1).

the question that an andean shareholder should ask themselves - is what would the andean share price be, without the bid. immediately prior to the bid being made, andean was trading at about 32c. for comparative purposes, ncm were then trading at about

frankly, i do not want the bid to succeed, but if it does, then i sure hope that there is a lot more gold on the andean tenements, than what has been indicated to date. with 13% of the company, then there is no chance of another bid succeeding, without kcn agreeing to the terms - which would mean a hefty premium - and that premium would simply be too much

just looking at the last cash flow figures. andean spent approx $4m in 6 months, and has about $4.4m in the kitty. three months have gone, since those numbers, and my guess is that they only have about $2m in the kitty, which will be spent by the end of september. i seem to recall that I read somewhere that they want to get an extra two rigs - which of course is a great move, as the percentage of funds, spent on administration, will be less, with the higher rate of exploration spending - but this means more $$$$$ to be spent on exploration drilling (which is a real plus) - but it simply means that the company will have to raise more funds - mmmm - maybe a placement of 20m shares at 30c. capital raisings will, no doubt continue for a long time