Ann: Board and Management Changes at Kin, page-12

You might be right, but I think It possible Delphi can outwait GMD because they are a private investor and can hold Kin and keep funding it while GMD is under pressure from high expectations and large amounts invested in a promise of Leonora consolidation. Kin would be desperate if not for Delphi, sure. I think Delphi get underestimated, maybe because they are private and don’t have to explain themselves. But I might be guessing wrong, I realize that. I just think it is a mistake to think they are share traders. From their perspective the Kin resource keeps growing while they get to own more and more of it for less and less $. I think that EV based on $190 is their view, whatever the SP. Delphi blocked the GMD takeover for a reason. I don’t think they are going to just give up.