Ann: Change in substantial holding from ALK, page-15

I agree, I think SBM will eventually want this project and ALK are investors. So at what price would ALK sell their shares to SBM? How much of a hurry are SBM to put in a bid? The sooner they do it, the lower their takeover price, but they want to wait for the next round of drilling. I could be wrong, ALK seem to be hedging their bets, because if the next rounds of drilling show something spectacular, then ALK will take out GMD - it's a good hedge position for ALK, very smart, and they have CAI also to do the same with. I sold my ALK shares far too early, now hanging on GMD to see what happens, but if they go past 12c then it will be tempting to sell from my 2 cent average. The problem is, what to invest the money in, after selling, there are almost no gold stocks left with low valuations, so I'll just hang in here for a while now.

Gw